Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of communications solutions and services, announced today that the Company has been awarded multiple contracts from a US Government agency valued at $5.0 million. The contracts include options which if exercised would bring the combined value of the contracts up to $7.8 million. Mike Plourde, Globecomm’s Vice President of System Products, said: “We are proud to have been selected and entrusted with the provisioning of mission-critical equipment in support of a host of Warfighters via these Task Orders. We take pride in always providing quality, cost-effective solutions to all of our customers, but there is no higher honor to support the men and women out there on the front lines.” In addition, Globecomm has agreed to a third period of performance completion date extension to its U.S. Army World-Wide Satellite Systems (WWSS) Indefinite Delivery Indefinite Quantity (IDIQ) contract. Initially issued as a five-year, $5 billion multiple awards contract in 2006, the period of performance completion date was last extended through July 27, 2013 and is now extended to March 31, 2014. The WWSS program is managed by the Project Manager Warfighter Information Network-Tactical (PM WIN-T) Program Management Office. Globecomm will continue to offer its systems integration and product development services providing turn-key communications solutions worldwide in support of a wide variety of US Army missions. Dwight Hunsicker, Globecomm’s Vice President of Government Business, said: “This period of performance completion date extension provides Globecomm with the ability to continue providing much-needed equipment to PM WIN-T in support a wide variety of mission requirements required of their End-Users until other contract vehicles like Global Tactical Advanced Communications Systems (GTACS) are awarded.” 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.