NAPLES, Fla., May 01, 2018 (GLOBE NEWSWIRE) -- FTE Networks, Inc. (NYSE American:FTNW) ("FTE" or the "Company"), a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and intelligent buildings, today announced that it has been awarded approximately $28 million in new projects in April of 2018, bringing the Company’s year-to-date total to approximately $161 million. The new contract awards cover three separate projects with a leading shared office space provider that supplies its tenants with physical and virtual service offerings.
Michael Palleschi, President and CEO of FTE Networks, stated, “These new contracts reinforce the value that FTE’s suite of complementary technology and general contracting solutions can provide its clients, enabling them to meet increasing tenant demands for intelligent work spaces. Similar to our recently announced partnership with Industry City, FTE is well positioned to help build real estate developments as innovative ecosystems that benefit tenants and the wider community alike. We continue to see momentum in our business and expect our growing backlog to drive sustained expansion and sustainable shareholder value.”
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: “well positioned,” “expect,” “momentum,” and similar references to future periods. Examples of forward-looking statements in this release may include, without limitation, statements and forecasts regarding how these new contract awards signal greater and continued 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:
Steve Silver / Allison Soss
KCSA Strategic Communications
Phone: (212) 896-1220 / (212) 896-1267
Email: ssilver@kcsa.com / asoss@kcsa.com
Media Relations Contact:
Kate Tumino
KCSA Strategic Communications
Phone: (212) 896-1252
Email: ktumino@kcsa.com
Corporate Contact:
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
Released May 1, 2018
