Globecomm Awarded Two Contracts From US Government Customers Valued at $12.8 Million; Options Bring Potential Total Contract Values up to $66.6 Million

 

September 8, 2011

 

Globecomm Systems Inc.  a leading global provider of communications solutions and services, announced today that the Company has been awarded two contracts from the US Government customers valued at $12.8 million. One contract includes options, which if exercised would bring the total contract value up to $61.3 million or both contracts up to $66.6 million. The Company anticipates the majority of the revenue on these contracts being recognized in the current fiscal year ending June 30th 2012.

 

Under the terms of the first contract, Globecomm will provide program management and related services for delivery of advanced satellite modem technology. Under the second contract Globecomm will provision satellite modem equipment and related services.

 

Thomas Coyle, Senior Vice President and General Manager of Globecomm Systems Inc., said: "We are very pleased with these new awards, building upon our recent awards for management and provision of advanced satellite communication solutions for several US Government customers. While the competitive landscape for these new procurements dictated a reduction from our normally demonstrated margins, we are excited to have the opportunity to continue as major supplier to the US Government in the latest modem technology"