CMTL

Comtech Telecomm. Corp. (Public, NASDAQ:CMTL) is tanking fast just moments ago ... they are down over 25% ... trading below $23. They have a 52-week range of 22.82 - 38.39 (and yes, the low was just now).

Here's the news:

Unsuccessful Offeror Letter for Blue Force Tracking-2 Program
Comtech Telecommunications Corp. Receives Unsuccessful Offeror Letter for
Blue Force Tracking-2 Program

MELVILLE, N.Y., July 21, 2010 (GLOBE NEWSWIRE) -- Comtech Telecommunications
Corp. (Nasdaq:CMTL) announced today that its Maryland-based subsidiary, Comtech
Mobile Datacom Corporation, has been advised by the U.S. Army Contracting
Command-CECOM Contracting Center that it was not selected as the program
manager and vendor for the Force XXI Battle Command Brigade and Below, Blue
Force Tracking 2 (FBCB2-BFT-2) program.

The Contracting Center also advised Comtech that an award was made to a
third-party vendor based on a total evaluated price of $249.9 million which is
approximately 50% lower than the total evaluated price of Comtech's BFT-2
proposal. This $249.9 million award implies that the BFT-2 program will spend
an average of approximately $41.7 million per year on BFT-2 services and
hardware based on a six-year anticipated roll-out.

Fred Kornberg, President and Chief Executive Officer of Comtech
Telecommunications Corp., said, "Given our proven performance during a war-time
environment, the performance capability of our BFT-HC transceiver and our
belief that Comtech offers a lower overall program risk to the U.S Army as well
as other factors, we anticipate protesting the award given to the third party."

Comtech's current BFT-1 contract of $384.0 million enables the U.S. Army to
place orders through December 2011. Total orders received to date against the
BFT-1 contract are $262.7 million. Comtech's existing BFT-1 program is expected
to generate approximately $50.0 million of revenue in fiscal 2010 of which
approximately $30.0 million relates to satellite network bandwidth and network
operational services. Assuming the BFT-2 contract award is not overturned,
Comtech anticipates that BFT-1 satellite network bandwidth and network
operational services will approximate $30.0 million in annual revenue for
fiscal 2011 and will decline thereafter through fiscal 2015. The ultimate
amount of BFT-1 revenue in any future fiscal year will likely depend on the
speed of the transition to the BFT-2 network and future U.S. Army operational
needs. In addition, the Company expects to continue to perform and generate
revenue under its current MTS contract as well as participate in the
solicitation process for the next-generation MTS contract.