HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Jul.21, 2009-- Globecomm Systems Inc. (NASDAQ: GCOM), a leading provider of satellite-based communications infrastructure solutions and services on a global basis, today announced that the Company has received a contract modification from a major financial institution in the United States valued at $1.2 million.
Pursuant to the contract modification, Globecomm will migrate sites to the main network and continue to provide managed network solutions for the customer, including operations and maintenance of existing sites and daily network monitoring. Globecomm anticipates the completion of the contract in the Company's fiscal 2010 second quarter ending December 31, 2009.
Keith Hall, President and Chief Operating Officer of Globecomm Systems Inc., said: "The Company is excited to continue to grow and mature our partnership with this customer. We continue to develop our Life Cycle Services offering and look for ways to expand our customer base. This contract represents our success in bringing these products and services to the Enterprise Market. "
About Globecomm Systems
Globecomm Systems Inc. provides end-to-end value-added satellite-based communication products, services and solutions by leveraging its core satellite ground segment systems and network capabilities, with its satellite communication services capabilities. The products and services Globecomm offers include pre-engineered products, systems design and integration services, managed network services and life cycle support services. Globecomm's customers include communications service providers, commercial enterprises, broadcast and other media and content providers and government and government-related entities.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Washington, DC, Maryland, New Jersey, the Netherlands, 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 differences 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.
Source: Globecomm Systems Inc.
Globecomm Systems Inc.David Hershberg, 631-231-9800
Chairman and Chief Executive Officer
or
Matthew Byron, 631-457-1301
Vice President, Corporate Office
ir@globecommsystems.com
www.globecommsystems.com