Globecomm Retains Needham & Company to Explore Strategic Alternatives to Enhance Shareholder Value

  Globecomm Retains Needham & Company to Explore Strategic Alternatives to
  Enhance Shareholder Value

         Refines Expectations for 2013 Fiscal Year Financial Results

Business Wire

HAUPPAUGE, N.Y. -- January 14, 2013

Globecomm Systems Inc. (NASDAQ: GCOM), a leading communications solutions
provider, today announced that it has retained Needham & Company to act as its
financial advisor to review potential strategic alternatives to enhance
shareholder value. There can be no assurance that this process will result in
any transaction or any change in the Company’s overall structure or business
model.

In connection with the Company’s normal quarterly review process, the Company
has refined certain of its expectations regarding its financial results for
the fiscal year ending June 30, 2013. Its refined expectations are:

  *Consolidated revenues to be between $320 and $340 million compared to the
    prior expectations of between $340 and $360 million.
  *Services segment revenues to be between $200 and $210 million, unchanged
    from prior expectations.
  *GAAP diluted net income per common share to be between $0.66 and $0.71
    compared to the prior expectations of between $0.66 and $0.76.
  *Adjusted EBITDA to be between $40 and $42 million compared to the prior
    expectations of between $40 and $44 million.

The Company expects to release its financial results for the fiscal 2013
second quarter and the six months ended December 31, 2012 after the market
close on Wednesday, February 6, 2013.

Non-GAAP Measures

Adjusted EBITDA is a non-GAAP measure which represents net income before
interest income, interest expense, provision for income taxes, depreciation,
amortization expense, non-cash stock compensation expense and earn-out fair
value adjustments. Globecomm believes this provides greater transparency by
helping illustrate comparability between current and prior periods. Under an
accounting pronouncement on business combinations, changes to the fair value
of earn-out payments must be recognized in earnings. Therefore, the exclusion
of the earn-out fair value adjustments in the adjusted EBITDA calculation
provides better comparability.

Adjusted EBITDA does not represent cash flows as defined by GAAP. Globecomm
discloses adjusted EBITDA since it is a financial measure commonly used in its
industry. Because adjusted EBITDA facilitates internal comparisons of our
historical financial position and operating performance on a more consistent
basis, the Company also uses adjusted EBITDA in measuring performance relative
to that of our competitors and in evaluating acquisition opportunities. The
Company’s management regularly uses supplemental non-GAAP financial measures
internally to understand, manage and evaluate the Company’s business and make
operating decisions. Adjusted EBITDA is not meant to be considered a
substitute or replacement for net income as prepared in accordance with GAAP.
Adjusted EBITDA may not be comparable to other similarly titled measures of
other companies.

About Globecomm Systems

Globecomm Systems Inc., (“we”, “our”, “us” or “Globecomm”), is a leading
global communications solutions provider. Employing our expertise in emerging
communication technologies, including satellite and other transport mediums,
we are able to offer a comprehensive suite of system integration, system
products, and network services enabling a complete end-to-end solution for our
customers. We believe our integrated approach of in-house design and
engineering expertise combined with a world-class global network and our 24 by
7 network operating centers provides us a unique competitive advantage. We
focus this value proposition to selective vertical markets, including
government, wireless, media, enterprise, and maritime. As a communications
solutions provider we leverage our global network to provide customers managed
access services to the United States Internet backbone, video content, the
public switched telephone network or their corporate headquarters, or
government offices. We currently have customers for which we are providing
such services in the United States, Europe, South America, Africa, the Middle
East, and Asia.

Based in Hauppauge, New York, Globecomm Systems also maintains offices in
Maryland, New Jersey, Virginia, the Netherlands, South Africa, Hong Kong,
Germany, Singapore, the United Arab Emirates and Afghanistan.

This press release contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. These forward looking statements are based on management's current
expectations and observations. You should not place undue reliance on our
forward-looking statements because the matters they describe are subject to
certain risks, uncertainties and assumptions that are difficult to predict.
Our forward-looking statements are based on the information currently
available to us and speak only as of the date of this press release. Over
time, our actual results, performance or achievements may differ from those
expressed or implied by our forward-looking statements, and such difference
might be significant and materially adverse to our security holders.

We have identified some of the important factors that could cause future
events to differ from our current expectations and they are described in our
most recent Annual Report on Form 10-K, including without limitation under the
captions ''Risk Factors'' and ''Management's Discussion and Analysis of
Financial Condition and Results of Operations,'' and in other documents that
we may file with the SEC, all of which you should review carefully. Please
consider our forward-looking statements in light of those risks as you read
this press release.

Contact:

For Globecomm Investor Relations:
Matthew Byron, 631-457-1301
Senior Vice President, Corporate Office
ir@globecommsystems.com
or
For Globecomm Public Relations:
pr@globecommsystems.com
or
Company Information:
Globecomm Systems Inc.
631-231-9800
Fax: 631-231-1557
http://www.globecommsystems.com
 
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