[Satellite TODAY Insider 02-11-11] Globecomm Systems’ second quarter 2011 service revenues jumped 40.8 percent to $47.3 million, with consolidated revenues increasing 23.1 percent year-over-year to reach $70.2 million — a record intake for the company, Globecomm announced in its latest financial results, issued Feb. 10.
    Globecomm President and COO Keith Hall said the company’s strong performance during the quarter and even stronger mid-year position allows management to increase its full-year service revenue guidance from about $175 million to $180 million to $185 million. However, Hall said Globecast remains cautious due to an expected delay of shipments on a major contract until fiscal 2012 and is adjusting its full-year 2011 consolidated revenue guidance slightly downward to between $280 million and $295 million.
    “During the first six months of the year, our services segment exceeded our expectations and continues to drive top- and bottom-line results. The teams continue to execute well across the board, and we have seen promising indicators for the infrastructure segment for the balance of the year. We are also pleased with the progress of our wireless and media market initiatives, which we feel will spur organic growth in the years to come. We look forward to closing the year strong and setting the stage for fiscal 2012,” Hall said in a statement.
    The company also said it signed a NATO contract extension valued at $8.5 million to expand its communication services and onsite support for Globecomm’s previously deployed GPS-Based Force Tracking System (FTS). Globecomm has received about $44 million in contracts from NATO for the design and installation GPS FTS, bringing the combined contract value to about $52.5 million.
    FTS aims to provide NATO with high levels of tracking data and messaging traffic and enable NATO to identify the location of its personnel.

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