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NAPLES, FL -- (Marketwired) -- 12/27/16 -- FTE Networks, Inc. (OTCQX: FTNW) ("FTE" or the "Company"), a leading network infrastructure solutions provider to the technology and communications service provider industries, today announced a relocation of its Dallas office and warehouse facilities to larger quarters in Irving, Texas.
The new FTE location comes as a part of FTE's expansion and growth in the region, which has contributed to the company's current backlog of $55 million in annualized revenues and $166 million pipeline over the next three years.
Michael Palleschi, CEO and Chairman of the Board, FTE Networks, Inc., commented, "Over the last 12 months, FTE has seen expansion of its business in North Texas, specifically with tier one carriers and OEMs, as our clients realize considerable value from our expertise in designing and building state-of-the-art fiber networks."
The new location in the Dallas Metroplex sits on a 6-acre multi-tenant property that boasts 3,000 square feet of general office space, fenced yard, and a warehouse that includes a concrete entry ramp designed to accommodate trucks and heavy machinery and 3 equipment bays to enable large-scale equipment to be moved easily in and out of the building. The building's close proximity to DFW Airport and central to the Dallas/Fort Worth region will benefit customers, employees and suppliers.
"This new office space reflects not only the continued success of FTE, but also the strong collaboration across our operations in the region," said Lynn Martin, COO of FTE Networks, Inc. "The relocation supports the momentum of our growth and expansion, provides a better work environment for current and future staff, and underscores our commitment to both our customers and our employees."
About FTE Networks, Inc.
FTE Networks is on the leading edge of network transformation, helping communications service providers, government and enterprise customers evolve their networks to meet advancing technology requirements via network infrastructure, and edge computing solutions to quickly enhance service innovation and deliver new revenue streams. With a focus on smart design, open architectures and consistent standards, along with expertise in building, operating, and maintaining networks, FTE solves complex network and system challenges that reduce costs and deployment time to accelerate delivery and optimize performance of network infrastructure. Operating five (5) industry segments; Data Center Infrastructure, Fiber Optics, Wireless Integration, Network Engineering, and Compute to the Edge, FTE Networks is headquartered in Naples, Florida, with offices throughout the United States and Europe. For more information, please visit: www.ftenet.com.
Forward Looking Statements
This release may contain forward-looking statements relating to the business of FTE. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. These statements involve risks and uncertainties that may cause actual results to differ materially from those anticipated, believed, estimated or expected. These risks and uncertainties are described in detail in our filings with the Securities and Exchange Commission. Forward-looking statements are based on FTE's current expectations and beliefs concerning future developments and their potential effects on FTE. There is no assurance that future developments affecting FTE will be those anticipated by FTE. FTE undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
Crescendo Communications, LLC
(212) 671-1020, Ext: 304
Source: FTE Networks, Inc.
Released December 27, 2016