FTE Networks Awarded New Infrastructure Contracts Totaling Approximately $141.4 Million in August and September
New contract wins bring year-to-date total to $442.8 million; Company expects continued momentum
NAPLES, Fla., Oct. 02, 2018 (GLOBE NEWSWIRE) -- , Inc. (NYSE American: FTNW) ("FTE" or the "Company"), a leading provider of innovative technology solutions for smart platforms, network infrastructure and intelligent buildings, today announced that it has been awarded approximately $141.4 million in new infrastructure projects in August and September of 2018, bringing the Company’s year-to-date total to approximately $442.8 million.
The new contract awards to FTE and its subsidiaries cover a variety of infrastructure projects, with significant customers including a globally recognized technology leader and a major cable and telecommunications company. Projects to be performed under the contracts include interior buildouts as well as technology and smart device deployments, primarily at locations throughout the Northeast. Work associated with these new contract wins is largely expected to be completed within the next 12-18 months.
Michael Palleschi, President and Chief Executive Officer of FTE Networks commented, “I am extremely pleased with our recent infrastructure project award performance. I think it is important to note that while a significant portion of the projects represent reoccurring work with existing customers, we have added new highly recognizable brands to our list of clients as well. This reflects the strong operational reputation we have built in the industry and is a byproduct of our commitment to deliver projects on time and to specifications. Our strategic vision to create and maintain the entire in-building ecosystem, from design through implementation of data systems and intelligent networks, continues to be well-accepted by the market. We have a great deal of momentum right now across all segments, and we expect that to continue into the fourth quarter and beyond.”
About FTE Networks, Inc.
FTE Networks, Inc. ("FTNW") is a leading provider of innovation technology. We enable adaptive and efficient smart network connectivity platforms, infrastructure and buildings. FTE provides end-to-end design, build, and support solutions for state-of-the-art networks, data centers, residential and commercial properties. We create transformative smart platforms and buildings. FTE's services are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of leading edge projects and services. The Company works with Fortune 100/500 companies, including some of the world's leading Telecommunications and IT Services Providers as well as REITs and Media Providers.
Forward-Looking Statements
This release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “expect,” “reflects,” “vision,” “well-accepted,” “momentum” and similar references to future periods. Examples of forward-looking statements in this release may include, without limitation, statements and forecasts regarding our continued operational performance; statements and forecasts regarding how these new contract awards signal increased market acceptance of our products and service offerings; our ability to successfully leverage these newly awarded contracts to increase our market share; and other matters that involve known or unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to differ materially from results expressed or implied by this release. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and market trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. These risk factors and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, our Form 10-K’s, Form 10-Q’s and Form 8-K’s. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
For more information, please contact:
Investor Contact:
Mike Cole
MZ Group
Phone: (949) 259-4988
Email:
Corporate Contact:
Kirstin Gooldy
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
