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NAPLES, FL -- (Marketwired) -- 06/13/17 --
FTE Networks, Inc. (OTCQX: FTNW) ("FTE" or the "Company"), a leading network infrastructure solutions provider in the technology and communications industries, today announced that it has been awarded a new contract by a Fortune 2016 Global 500 telecom company for Inside Plant work. This contract with a major telecommunications network integrator is potentially valued up to $1.5 million over the next twelve months. Work is expected to commence in the second half of 2017.
According to Michael Palleschi, President and Chief Executive Officer of FTE, the project, at a major single-tenant commercial facility in the Midwest, includes significant cabling work and installation of distributed antenna systems (DAS), an in-building wireless solution.
"The growth momentum that FTE is experiencing in our Inside Plant work reflects our ability to consistently deliver high-quality work throughout all aspects of a project," Mr. Palleschi said. "Our services and deployment techniques represent a clear differentiator for us in the marketplace, and we're seeing continued strong interest in our offering among top-tier telecom companies. This particular client is a Fortune 2016 Global 500 company we've worked with previously. They chose to work with us again because of their first-hand experience of the peerless quality of our services, our performance, our transparency and our commitment to deadlines."
About FTE Networks, Inc.
FTE Networks, Inc. (OTCQX: FTNW) is a leading network infrastructure solutions provider to the technology and communications sectors. FTE's three complementary businesses are: FTE Networks Services (network infrastructure solutions); CrossLayer, Inc. (managed network services with first-of-its-kind advanced network and cloud platform and technology), and Benchmark Builders, Inc. (construction management), which provides end-to-end design, build and support solutions for state-of-the-art networks and commercial properties to create the most transformative smart platforms and buildings. FTEs businesses are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of innovative projects and services. The company works with Fortune 100/500 companies, including some of the world's leading communications services providers FTE Networks and its subsidiaries operate 8 Lines of Business, including Data Center Infrastructure, Fiber Optics, Wireless Integration, Network Engineering, Internet Service Provider, Construction Management, General Contracting, and Pre-Construction Services. With approximately 200+ employees, FTE and its entities have operations in 17 states. For more information, please visit www.ftenet.com.
This release may contain forward-looking statements, relating to the business of FTE, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements other than historical facts are forward-looking statements, which can be identified by the use of words such as: "potential," believes," "expects," "opportunity," "strategy," "upcoming," "intend," "plan" and similar expressions and/or references to future periods.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on FTE's current expectations, beliefs and assumptions regarding future developments and their potential effects on FTE. 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. Furthermore, 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 written or oral, that may be made from time-to-time, whether as a result of new information, future events, or otherwise, except as required under applicable securities laws.
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FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
Source: FTE Networks, Inc.
Released June 13, 2017