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.
Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of communications solutions and services, announced today that Showtime Networks Inc. has awarded the company a seven-year contract renewal. Globecomm will continue providing Showtime Networks with a managed services solution that supports the origination and broadcasting of over 40 channels. These include standard definition, high definition, MPEG 2 and MPEG 4, and video on demand via satellite and terrestrial means. Globecomm broadcast technicians maintain the on air availability of all channels 24/7, along with support of SHOWTIME CHAMPIONSHIP BOXING ® and other live events. Tim DeLaney, Senior Vice President, Network Operations, Showtime Networks Inc., said: “This seven-year contract renewal with Globecomm recognizes their superior performance, high on air availability and technical proficiency.” Andy Silberstein, Senior Vice President & General Manager of Globecomm Services, said: “We are pleased to have the opportunity to continue offering our managed media services to one of the industry’s premier content providers.” About Showtime Showtime Networks Inc. (SNI), a wholly-owned subsidiary of CBS Corporation, owns and operates the premium television networks SHOWTIME ®, THE MOVIE CHANNEL ™ and FLIX ®, as well as the multiplex channels SHOWTIME 2 ™, SHOWTIME ® SHOWCASE, SHOWTIME EXTREME ®, SHOWTIME BEYOND ®, SHOWTIME NEXT ®, SHOWTIME WOMEN ®, SHOWTIME FAMILY ZONE ® and THE MOVIE CHANNEL ™ XTRA. SNI also offers SHOWTIME HD ™, THE MOVIE CHANNEL ™ HD, SHOWTIME ON DEMAND ® and THE MOVIE CHANNEL ™ ON DEMAND, and the network's authentication service SHOWTIME ANYTIME ®. SNI also manages Smithsonian Networks, a joint venture between SNI and the Smithsonian Institution, which offers Smithsonian Channel ™. All SNI feeds provide enhanced sound using Dolby Digital 5.1. SNI markets and distributes sports and entertainment events for exhibition to subscribers on a pay-per-view basis through SHOWTIME PPV ®. 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.