NAPLES, FL -- (Marketwired) -- 06/11/14 -- FTE Networks, Inc. (PINKSHEETS: FTNW), a premier provider of fiber and wireless infrastructure services in the telecommunications vertical, today announced that it has been awarded a multi-state agreement with a US based, Fortune 500 major network integrator for the installation of FTTX solutions and customer premise infrastructure. FTE expects total revenue under this agreement to be at least $1 million over the next 12 months.
These new contracts will expand FTE's service offerings in Washington and Utah.
"The ability for us to win these new contacts and expand our business proves our ability to execute on our strategic initiatives. Our business continues to expand and FTE Networks is becoming a leading service provider for the telecommunications and technology industries," said Michael Palleschi, FTE's Chief Executive Officer. "As we build our brand and business, we believe our shareholder value will reflect our success and we look forward to incremental value increases as FTNW secures new contracts and recognizes existing contract revenue."
About FTE Networks, Inc.
FTE Networks is a vertically integrated company with an international footprint. Since its inception, FTE Networks has steadily advanced its management, operational and technical capabilities to become a leading provider of services to the telecommunications and wireless sector with a focus on turnkey solutions. FTE Networks provides a comprehensive array of services centered on quality, efficiency and customer service.
Forward Looking Statements
This release may contain forward-looking statements relating to the business of FTNW. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. These statements involve risks and uncertainties that may cause actual results to differ materially from those anticipated, believed, estimated or expected. These risks and uncertainties are described in detail in our filings with the Securities and Exchange Commission. Forward-looking statements are based on FTNW's current expectations and beliefs concerning future developments and their potential effects on FTNW. There is no assurance that future developments affecting FTNW will be those anticipated by FTNW. FTNW undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
Source: FTE Networks, Inc.
Released June 11, 2014