FTE Networks Awarded New Infrastructure Contracts Worth Over US$140 Million

FTE Networks (NYSEA:FTNW) announced that it has been awarded approximately US$141.4 million in new infrastructure projects in August and September of 2018.

The company’s said that it now has the year-to-date total contracts worth approximately US$442.8 million.

As quoted in the press release:

The new contract awards to FTE and its subsidiaries cover a variety of infrastructure projects, with significant customers including a globally recognized technology leader and a major cable and telecommunications company.  Projects to be performed under the contracts include interior buildouts as well as technology and smart device deployments, primarily at locations throughout the Northeast.  Work associated with these new contract wins is largely expected to be completed within the next 12-18 months.

Michael Palleschi, President and Chief Executive Officer of FTE Networks commented, “I am extremely pleased with our recent infrastructure project award performance.  I think it is important to note that while a significant portion of the projects represent reoccurring work with existing customers, we have added new highly recognizable brands to our list of clients as well.  This reflects the strong operational reputation we have built in the industry and is a byproduct of our commitment to deliver projects on time and to specifications.  Our strategic vision to create and maintain the entire in-building ecosystem, from design through implementation of data systems and intelligent networks, continues to be well-accepted by the market. We have a great deal of momentum right now across all segments, and we expect that to continue into the fourth quarter and beyond.”

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