Globecomm Awarded $2.5 Million In Follow-On Contracts

By | October 16, 2003 | Uncategorized

Hauppauge, N.Y.-based satellite communications provider Globecomm Systems [Nasdaq: GCOM] has won two follow-on contracts from existing customers that have an aggregate value of $2.5 million. In July, the company inked an $8.3 million contract from 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 deal, the customer has exercised $1.6 million of follow-on options and has the right to exercise an additional $25.1 million, Globecomm officials said. Under the second contract, an existing international customer has selected Globecomm to expand their network by providing a turnkey 8.1 meter antenna, which includes all related equipment, spares, installation, project management and commissioning.

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