Yahoo Finance Comtech Unit Completes $2.2 Million Order
Comtech Telecomm. Corp. (NASDAQ: CMTL) revealed that its subsidiary, Telecommunication Systems, Inc. has completed a contract worth about $2.2 million with the completion of installation. The order was in respect of offering location-based services solutions to a mobile network operator situated in Southeast Asia.
Comtech's President and CEO, Stanton Sloane, commented "Comtech has over two decades of experience in the location-based services market delivering innovative advanced communication solutions to wireless operators that are designed to help them attract new customers, enhance revenue streams as well as meet their public safety needs."
The CEO said further, "Adding this mobile network operator to our customer portfolio is a testament to the versatility and scalability of our global location-based services platform."
The company indicated that it brings every component required to locate any user device in any type of network and deliver that location to public safety service agencies. The company added that the mobile network operator could now monetize its investment by offering its subscribers with value-added, revenue-generating commercial services like public safety, workforce management, and mobile advertising solutions.
On Tuesday, the stock traded higher by 1.16 percent.
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