Benzinga | Oct 4, 2021 10:20AM EDT

Comtech Scoops $125M Multi-Year Federal Cyber Training Contract

* Comtech Telecommunications Corp (NASDAQ:CMTL) secured a five-year single award IDIQ contract renewal with Firm Fixed Price (FFP) and Time and Materials (T&M) delivery orders in Q1 FY22 valued at $125 million from the Federal Government for the Joint Cyber Analysis Course (JCAC) Training solutions.

* The first delivery order on the IDIQ contract was received and funded $1.4 million to date.

* "This contract renewal acknowledges our proven track record of excellence in developing and delivering complex cybersecurity operations training at the scale and demanding operational tempo required by our Federal Government customers," said Comtech Chair and CEO Fred Kornberg.

* Price Action: CMTL shares traded lower by 0.59% at $26.00 on the last check Monday.