  We describe the full-time dynamics of modulational instability in F=1 spinor
Bose-Einstein condensates for the case of the integrable three-component model
associated with the matrix nonlinear Schroedinger equation. We obtain an exact
homoclinic solution of this model by employing the dressing method which we
generalize to the case of the higher-rank projectors. This homoclinic solution
describes the development of modulational instability beyond the linear regime,
and we show that the modulational instability demonstrates the reversal
property when the growth of the modulation amplitude is changed by its
exponential decay.
