Key Developments For Globecomm Systems Inc
Globecomm Systems Inc (GCOM.O) (Nasdaq)
Globecomm Systems, Inc. Announces Award Of $17.7 Million U.S. Government Agency Contract To Provide Global SATCOM On The Move Communications
Globecomm Systems, Inc. announced that it has been awarded a contract from a U.S. Government Agency under the Commercial SATCOM Terminal Program (CSTP) which is part of the Project Manager (PM) Warfighter Information Network-Tactical (WIN-T) and Program Executive Office: Command, Control and Communications Tactical (PEO C3T) under the World Wide Satellite Systems (WWSS) Program to provide global SATCOM On-The Move (OTM) communications. The contract is valued at $17.7 million with options for significant additional quantities and services. Globecomm Systems will lead this effort for the U.S. Government providing program management and services.
Globecomm Systems, Inc. Issues FY 2010 Outlook In Line With Analysts' Estimates
Globecomm Systems, Inc. announced that for fiscal 2010, it expects consolidated revenues to be between $215-$225 million, GAAP earnings per diluted share (EPS) to be between $0.30-$0.35 and Adjusted EBITDA to be approximately $20 million. According to Reuters Estimates, analysts were expecting the Company to report revenues of $216 million, GAAP EPS of $0.32 and EBITDA of $19 million for the same period.
Globecomm Systems, Inc. To Introduce TomCat X-Band Satellite Terminal
Globecomm Systems, Inc. announced that it would introduce a new portable X-band satellite terminal. The TomCat X-Band terminal is a light-weight, man-transportable X-band satellite communications system.
Globecomm Systems, Inc. Announces Exercise Of $2.3 Million Contract Option By The U.S. Army For Continued Production Of Joint IP Modem
Globecomm Systems, Inc. announced that the U.S. Army has exercised a $2.3 million contract option for the continued production of the Joint IP Modem (JIPM). On November, 12, 2007, the Company announced that it had been awarded a contract from the U.S. Army`s Communications-Electronic Life Cycle Management Command under the Program Executive Office Enterprise Information Systems Project Manager Defense Communications and Army Transmission Systems` World Wide Satellite Systems program to provide the JIPM. The contract was initially valued at $9.9 million and included multiple options that if fully exercised over the next 16 months would value the contract at $87 million. The exercise of this option now brings the base contract to $17.7 million, with $69.3 million of options remaining over the next 16 months.
Globecomm Systems, Inc. Announces Infrastructure Contract From Government Agency Valued At $2.1 Million
Globecomm Systems, Inc. announced that it has received an infrastructure contract from a Government agency valued at $2.1 million. The contract scope includes a complete RF electronics upgrade to an existing 11 meter X band terminal system. The antenna drive and control system will be completely replaced with latest technology. The Company anticipates the completion of this contract in the Company's fiscal year 2011 first quarter ending September 30, 2010.
