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|Globecomm Awarded $4.3 Million Infrastructure Contract from a Major Media & Entertainment Company|
HAUPPAUGE, N.Y., Aug 30, 2010 (BUSINESS WIRE) -- Globecomm Systems Inc. (NASDAQ: GCOM), a leading global provider of satellite-based communications infrastructure solutions and services, today announced that the Company has received a contract from a major media & entertainment company valued at $4.3 million.
Under the terms set forth in the contract, Globecomm will design and install a direct-to-home (DTH) satellite uplink and upgrade an existing uplink facility to enable the customer's growing business. Globecomm anticipates the completion of this contract in the Company's fiscal year 2011 fourth quarter ending June 2011.
Dov Cydulkin, Vice President of Asia Pacific, said: "We are pleased and honored to be selected by the customer for this challenging project. Our proven record in the DTH television business and in both RF and broadcast systems is viewed very favorably by the industry, establishing Globecomm as a major player in that field."
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 systems, 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, 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 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 provides specialized communications products to support its global service offerings for media, wireless, government, maritime and enterprise customers.
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