Globecomm Systems Inc., a global provider of end-to-end satellite-based communications solutions, today announced that it has been awarded multiple contracts from an existing customer valued at approximately $1.9 million.
On July 1, 2003, Globecomm announced the receipt of an $8.3 million contract from the customer, a global multilateral organization, for fixed and transportable earth station terminals, which included $26.7 million in follow-on options. Under the terms of that contract, the customer previously exercised $10.4 million in follow-on options, has now exercised an additional $1.3 million and has the right to exercise an additional $15.0 million.
Under a separate Indefinite Delivery/Indefinite Quantity contract, this customer previously exercised $0.3 million, has now exercised an additional $0.6 million and has the right to exercise an additional $0.8 million.
About Globecomm Systems
Globecomm Systems Inc. provides end-to-end value-added satellite-based communication solutions by leveraging its core satellite ground segment systems and network capabilities, with satellite communication services capabilities that are generally provided by its wholly-owned subsidiary, NetSat Express, Inc. The solutions Globecomm and NetSat offer include general contracted complex communications networks, militarized commercial off the shelf products and services, voice over Internet Protocol (VOIP), video broadcast, business recovery, satellite-based terrestrial restoral, content delivery and other networks on a global basis. Both Globecomm Systems' and NetSat Express' customers include communications service providers, commercial enterprises, Internet Service Providers, content providers and government entities.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Washington D.C., Hong Kong, the United Kingdom and the United Arab Emirates.
Certain of the statements contained in this press release may be deemed forward-looking statements. Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from these statements and matters include risks and other factors detailed, from time to time, in the Company's reports filed with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended June 30, 2004 and its Quarterly Reports on Form 10-Q, which the Company urges investors to consider. These risks and other factors include, but are not limited to, general political and economic instability in the United States and abroad, as well as uncertainties regarding follow on orders from any particular customer.