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On Friday, mobile communications technology company TeleCommunication Systems, Inc. (NASDAQ: TSYS ) announced that it has been awarded a $16.1 million contract to perform engineering work on the U.S. Marine Corps' Wireless Point to Point Link systems as part of the Pentagon's larger $5 billion World-Wide Satellite Systems (WWSS) contract.
TCS's role under the new contract will be to supply engineers to upgrade the USMC's control facilities, data centers, and tactical communications systems. While at $16.1 million, the contract amounts to about 3.3% of the revenues TCS generates in a year, no specific time frame was stated for when this work will be performed.
Despite the contract win, TeleCommunication Systems shares are trading lower Friday, down 1.7%, at $2.27.