NAPLES, Fla., April 11, 2018 (GLOBE NEWSWIRE) -- FTE Networks, Inc. (NYSE American:FTNW) , a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and intelligent buildings, today announced that it has been awarded new projects totaling approximately $24.3 million, bringing its year-to-date total to approximately $133 million. These new contracts further strengthen the Company’s upward growth trajectory, and are expected to have a positive impact on earnings.
The newly acquired customer project portfolio includes companies in the communications, technology, REIT, and hedge fund industries. Additionally, the Company continues to be awarded re-occurring infrastructure projects in strategic markets across the United States under existing master service agreements, through which FTE helps create intelligent workplaces by providing state-of-the-art technology, infrastructure and fit-out services. Several of these new and re-occurring awards are with marquee customers in the coveted New York City metro region, bolstering the Company’s market presence, visibility, and enhancing its prospects for further expansion. FTE expects to complete these projects over the next 12 months.
Michael Palleschi, President and CEO of FTE Networks, stated, “Year-to-date, FTE has continued to secure new contract awards from an increasingly prestigious client base, including global, tier one clients, Fortune 100/500 companies and top-ranking REITs. Our recently announced preliminary backlog of approximately $434 million at December 31, 2017 underscores the underlying strength of our business and further validates the market’s adoption of FTE’s product and service suite that spans multiple growth market segments. By offering our complementary services that provide state-of-the-art technology and infrastructure solutions that enable the edge, we are well positioned to meet the increasing demands for intelligent work spaces.”
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.
