FTE Networks Awarded New Contracts Totaling $42.7 Million

FTE Networks (NYSEA:FTNW) announced that its infrastructure segment has been awarded approximately $42.7 million in new projects in June 2018.

FTE networks, a leading provider of innovative technology oriented solutions for smart platforms, network infrastructure and intelligent buildings said that the company has an year-to-date of approximately $240.5 million in new projects.

As quoted in the press release:

The new contract awards cover a variety of infrastructure projects, including two premier international law firms, a New York City government agency, and leading cable and telecommunications carriers.

“June was an excellent month in terms of new contract wins, bringing our second quarter to a successful close.  We have increased confidence in our goals and are on target for meeting our 2018 stated objectives.  We continue to enjoy a healthy backlog and believe that these new awards highlight the strength in our brand,” said Michael Palleschi, President and CEO of FTE Network.

Mr. Palleschi further added, “Market strength within our infrastructure segment continues to support our technology segment. FTE’s innovative CrossLayer technology provides carrier-grade in-building wireless connectivity services that enable intelligent buildings.  We offer property owners a new approach, combining technology and infrastructure services, thereby positioning us to rapidly expand our market share in both business segments.”

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