Tailwinds’ Take: the compelling nature of FTE’s smart building product, CrossLayer, is demonstrated by them winning over $80MM in new contracts already in 2018.
NAPLES, Fla., Feb. 15, 2018 (GLOBE NEWSWIRE) — FTE Networks, Inc. (NYSE American:FTNW) (“FTE” or the “Company”), a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and intelligent buildings, today announced that it was awarded a contract valued at approximately $36 Million.
FTE has secured a $36 Million award from one of the oldest and largest financial institutions in the U.S. to provide state-of-the-art technology, infrastructure and fit out services that support the enablement of future ready smart and innovative workspaces. The project, located in Manhattan, is anticipated to begin in the 1st Quarter and expected to complete over the next 18 months.
Michael Palleschi, President and CEO of FTE Networks, stated, “Our team continues to meet and exceed the expectations of our valued customers. Being awarded the contract by a marquee firm strengthens our ability to secure additional engagements with notable global companies located in one of the foremost markets. This award furthers our mission to transform tenant experiences and address increasing tenant demands for advanced technology solutions and high-speed internet. FTE is well positioned to meet the new design and future-ready requirements for smart building infrastructure. We continue to bolster our backlog, and these new contract awards are a testament to the hard work and dedication of the employees of FTE and its subsidiaries.”
About FTE Networks, Inc.
FTE Networks, Inc. (“FTNW”), FTE Networks, Inc. (“FTNW”) is a leading provider of innovation technology. We enable adaptive and efficient smart network connectivity platforms, infrastructure and buildings. FTE provides end-to-end design, build, and support solutions for state-of-the-art networks, data centers, residential and commercial properties. We create transformative smart platforms and buildings. FTE’s services are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of leading edge projects and services. The Company works with Fortune 100/500 companies, including some of the world’s leading Telecommunications and IT Services Providers as well as REITs and Media Providers.
Note on Forward-Looking Statements
This release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipated,” “expected,” and similar references to future periods. Examples of forward-looking statements in this release may include, without limitation, statements and forecasts we make regarding the estimated timeframe these projects will be completed by and our ability to leverage these newly awarded contracts to increase our market share in New York City Markets and elsewhere; our strategies for continued growth and strategic expansion in select markets; and other matters that involve known or unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to differ materially from results expressed or implied by this release. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and market trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. These risk factors and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, our Form 10-K’s, Form 10-Q’s and Form 8-K’s. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this update is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.
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