|[September 28, 2004]
Globecomm Systems Receives Two U.S. Government Satellite Infrastructure Contracts Valued at Approximately $5.9 Million, Which Includes an Initial Award Under an Indefinite Delivery/Indefinite Quantity Contract
HAUPPAUGE, N.Y. --(Business Wire)-- Sept. 28, 2004 -- Globecomm Systems Inc. (NASDAQ: GCOM), a global provider of end-to-end value-added satellite-based communications solutions, today announced that the Company has been awarded two U.S. Government satellite infrastructure contracts valued at approximately $5.9 million, which includes an initial award under an indefinite delivery/indefinite quantity (IDIQ) contract.
David Hershberg, Chief Executive Officer and Chairman of Globecomm Systems Inc., said, "The government is increasingly using IDIQ and similar contract types to increase its procurement efficiency and allow it to capitalize on a commercial company's ability to respond quickly to changing government needs. These types of contracts can have a major impact on a company's financial results since multiple orders can be placed at any time during the multi-year term of the contract, and the total dollar value of the contract can be significantly increased from the initial award. Globecomm is pleased to have been selected for yet another of these multi-year contracts and we are continuing to pursue more of these opportunities."
About Globecomm Systems
Globecomm Systems Inc. provides end-to-end value-added satellite-based communication solutions by leveraging its core satellite ground segment systems and network capabilities, with the satellite communication services capabilities that are generally provided by its wholly-owned subsidiary, NetSat Express, Inc. The solutions Globecomm and NetSat offer include general contracted complex communication networks, militarized commercial off the shelf products and services, voice over Internet Protocol (VOIP), video broadcast, business recovery, satellite-based terrestrial restoral, content delivery and other networks on a global basis. Both Globecomm Systems' and NetSat Express' customers include communication service providers, commercial enterprises, Internet Service Providers, content providers and government entities.
Based in Hauppauge, New York, Globecomm Systems also maintains offices in Hong Kong, the United Kingdom and the United Arab Emirates.
Certain of the statements contained in this press release may be deemed forward-looking statements. Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from these statements and matters include risks and other factors detailed, from time to time, in the Company's reports filed with the Securities and Exchange Commission, including, but not limited to, the Company's Annual Reports on Form 10-K and its Quarterly Reports on Form 10-Q, which the Company urges investors to consider.
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