FTE Networks Provides Corporate Update

FTE Networks (NYSEA:FTNW) in a shareholder update said that IT is the fastest growing segment in the global economy and that the company is positioned well to take advantage of it.

FTE Networks, a leading provider of innovative technology solutions for smart platforms said that the company offers an unparalleled operational platform with unlimited growth potential.

As quoted in the press release:

According to Cisco Systems, demand for increased internet speed will grow by 300% over the next four years. Our business lines complement and enhance one another to provide end-to-end solutions to clients facing these increasing demands for bandwidth.

Our business is predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of innovative projects and services. We work with Fortune 100 and 500 companies, including some of the world’s leading corporations.

We currently service five markets, broken out below, that are anticipated to grow to $576B by 2021, according to research firm Markets and Markets:

• The In-Building Wireless Market is forecasted to grow at 28% from $4.8 billion in 2015 to $16 billion in 2020.
• The Global Smart Buildings Market is forecasted to grow at 30% from $7 billion in 2014 to $36 billion in 2020.
• The Network Infrastructure (Fiber) Market is forecasted to grow from $130 billion in 2017 to $150 billion in 2021.
• The Data Center Market is forecasted to grow from $130 billion in 2017 to $170 billion in 2021.
• Our fifth and largest market, US Commercial Construction, is a $204 billion market forecasted to grow at 10% per year.

Infrastructure Segment Provides Foundation and Financial Resources

We continue to build a very strong brand with our infrastructure segment. The frequency of current contracts being expanded upon, or project wins from both new and existing customers, is increasing. This is a great trend to see and is a byproduct of our commitment to delivering projects on time and to specifications. While our backlog can fluctuate substantially from one day to the next based on project timing and new contract execution, our ability to win new business has never been stronger as evidenced by approximately $302 million of new contracts secured this year through the month of July. This puts us on pace to meet and potentially exceed our year-end objectives while also laying a solid foundation going into 2019.

Outlook….

As I mentioned earlier, we are on track to meet or exceed our guidance of $350 million in revenues, $30 million in adjusted EBITDA and bringing 30 buildings on net for 2018. While this is a great accomplishment, it represents only the start of what we aim to achieve. We have ambitious goals, we are seeing great tangible progress validating our vision, and we expect great things to come.

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