August 4, 2011
HAUPPAUGE, N.Y., Aug 04, 2011 (BUSINESS WIRE) — Globecomm Systems Inc. GCOM -2.57% , a leading global provider of communications solutions and services, announced today that the Company has been awarded a contract from a U.S. Government Agency. The contract is valued at $74.1 million with options for additional quantities and services. Globecomm will lead this effort for the U.S. Government providing program management and services. The L-3 Narda Satellite Networks (L-3 Narda), division of L-3 Communications will work with Globecomm as a subcontractor.
Thomas Coyle, Senior Vice President and General Manager of Globecomm Systems Inc., said: “This is a very important contract for Globecomm and we are very pleased to be working with L-3 Narda to further extend our relationship from other projects. While the competitive landscape for this procurement dictated a reduction from our normally demonstrated margins, we are excited to have the opportunity to become a major supplier in a new market and to work closely with L-3.“
Gene Kelly, President of L-3 Narda, said: “Narda provides a wide array of transit cased transportable tactical earth stations, antennas and electronics subsystems for the US Government. We are very proud to be part of the Globecomm team to provide this vital capability.”
About L-3 Narda Satellite Networks
Hauppauge-based L-3 Narda Satellite Networks is a leading global satellite communications systems and services provider, offering systems and services used in satellite transmission of voice, video and data. To learn more about L-3 Narda Satellite Networks, please visit the company’s web site at http://www.L-3com.com/satellitenetworks .
Headquartered in New York City, L-3 Communications employs approximately 61,000 people worldwide and is a prime contractor in C(3)ISR (Command, Control, Communications, Intelligence, Surveillance and Reconnaissance) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms. The company reported 2010 sales of $15.7 billion. To learn more about L-3, please visit the company’s website at http://www.L-3com.com .
About Globecomm Systems
Globecomm Systems Inc., or Globecomm, is a leading global provider of satellite-based managed network solutions. Employing our expertise in emerging communication technologies we are able to offer a comprehensive suite of system integration, system products, and network services enabling a complete end-to-end solution for our customers. We believe our integrated approach of in-house design and engineering expertise combined with a world-class global network and our 24 by 7 network operating centers provides us a unique competitive advantage. We are now taking this value proposition to selective vertical markets, including government, wireless, media, enterprise, and maritime. As a network solution provider we leverage our global network to provide customers managed access services to the United States Internet backbone, video content, the public switched telephone network or their corporate headquarters, or government offices. We currently have customers for which we are providing such services in the United States, Europe, South America, Africa, the Middle East, and Asia.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Maryland, New Jersey, Virginia, the Netherlands, South Africa, Hong Kong, Germany, Singapore, the United Arab Emirates and Afghanistan.
This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward looking statements are based on management’s current expectations and observations. You should not place undue reliance on our forward-looking statements because the matters they describe are subject to certain risks, uncertainties and assumptions that are difficult to predict. Our forward-looking statements are based on the information currently available to us and speak only as of the date of this press release. Over time, our actual results, performance or achievements may differ from those expressed or implied by our forward-looking statements, and such difference might be significant and materially adverse to our security holders. We have identified some of the important factors that could cause future events to differ from our current expectations and they are described in our most recent Annual Report on Form 10-K and most recent Quarterly Report of Form 10-Q, including without limitation under the captions ”Risk Factors” and ”Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and in other documents that we may file with the SEC, all of which you should review carefully. Please consider our forward-looking statements in light of those risks as you read this press release.
SOURCE: Globecomm Systems Inc.
For Globecomm Investor Relations information: Matthew Byron, 631-457-1301 Senior Vice President, Corporate Office IR/M&A firstname.lastname@example.org or Company Information: Globecomm Systems Inc. 45 Oser Avenue Hauppauge, NY 11788 Phone: 631-231-9800; Fax: 631-231-1557