FTE Networks Wins US$130 Million in New Contracts

FTE Networks (NYSEAmerican:FTNW) announced that it has been awarded US$129.6 million in new projects during the fourth quarter of 2018 which translates to US$572.4 million worth of contracts during 2018.

As quoted in the press release:

The new contract awards to FTE and its subsidiaries cover a variety of infrastructure projects, with prominent customers including a leading global investment and market management firm, 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 New York City and the surrounding boroughs. Work associated with these new contract wins is largely expected to be completed within the next 12-18 months.

“Closing 2018 with $572.4 million in new contract awards is an exceptional accomplishment,” commented Michael Palleschi, President and Chief Executive Officer of FTE Networks. “The ability to secure new customers and continue to secure awards within our existing client base illustrates our strong presence and reputation in the market. Our team continues to execute our strategic vision to create and maintain the entire in-building ecosystem, from design through implementation of data systems and intelligent networks. I am confident in our ability to continue this momentum into 2019.”

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