FTE Networks Awarded New Contracts over $24.3 Million

FTE Networks (NYSE:FTNW), a leading provider of innovative technology-oriented solutions for smart platforms and network infrastructure announced that it has been awarded new projects totalling $24.3 million approximately. The company said that with the new orders, its year-to-date total is approximately $133 million.

As quoted in the press release:

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.

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.”

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