Globecomm Wins Follow-On Contract

Globecomm Systems Inc. [GCOM] inked a follow-on contract from an existing, unidentified customer for $1.9 million. The first contract, signed in July 2003, was worth $8.3 million and was sought by what has been described as a “global multilateral organization” that is using the gear for fixed and transportable earth-station terminals. The contract included $26.7 million in follow-on options; with this deal, the company has exercised about $9 million in follow-on options thus far.