Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of communications solutions and services, today announced that the Company has been awarded a contract from the US Navy’s Space and Naval Warfare Systems Center Atlantic, located in Charleston, SC, for commercial-off-the-shelf satellite network and communications equipment and other services. The indefinite-delivery/indefinite-quantity, firm-fixed-price, contract, has a base year value of up to $17 million, including four option years, which if exercised could bring the combined cumulative value of the multiple award contracts to an estimated $85 million, to be shared among the pool of awardees. Globecomm will compete with two other companies who were awarded similar contracts for individual delivery orders under the terms and conditions of the awarded contract. David Hershberg, Chief Executive Officer and Chairman of Globecomm Systems Inc., said: “This contract further deepens our support to a critical US Government organization charged with rapidly delivering solutions that enable information dominance for our country’s Naval, Joint, National and Coalition Warfighters. This prime contract leverages Globecomm's program management and satellite communications engineering know-how in developing, deploying and supporting state-of-the-art solutions in a manner that is mutually aligned with SPAWAR’s expectations regarding responsiveness, excellence, credibility and accountability.” 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.
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.