Comtech snags $3.7 million in orders for friend-or-foe equipment
Fred Kornberg, president and chief executive at defense electronics contractor Comtech Telecommunications Corp. on May 15, 2003, in Melville. Credit: Newsday / Alejandra Villa
Melville-based Comtech Telecommunications Corp. has received orders totaling about $3.7 million from an unnamed U.S. manufacturer for high-powered amplifiers used in military systems that determine whether an aircraft is a friend or an enemy, the company said Wednesday.
The orders are part of a $6 million purchase agreement received by the company's Comtech PST subsidiary, also based in Melville. The balance of the orders are expected to be placed in the next 15 months, the company said in a news release.
Shares of Comtech, which is scheduled to report earnings on Thursday, rose 14 cents to $36.43 in trading late Wednesday morning.
In August, Comtech management acknowledged that the company had hired Citigroup Inc. as its adviser in exploring a possible merger or sale.
Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.
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