$ICLD InterCloud Systems Awarded Additional New Contracts Valued at Approximately $1.0 Million and Continues to Reduce Debt
NEW YORK, Dec. 01, 2016 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (OTCQB:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced that it was recently awarded approximately $1.0 million in new contracts for professional and managed services in connection with next generation network services for new and existing customers. A majority of the work is expected to begin immediately.
Separately, the Company reported the continued reduction of debt by more than $3.9 million since September 30, 2016, and over $20.6 million since June 30, 2016, as it followed its plans to further strengthen its balance sheet.
Mark Munro, CEO of InterCloud Systems stated: "We have continued to demonstrate our ability to overcome challenges in the equity markets and our determination to restore value to our shareholders. We will continue to push for positive cash flow, organic growth, profitability and a strengthened balance sheet."
