InterCloud Systems Inc. (ICLD)

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InterCloud Systems Awarded New Contracts Valued At Over $2 Million
GlobeNewswire
Jun 9, 2017

SHREWSBURY, N.J., June 09, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (OTC:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced that it was recently awarded over $2 million in new contracts for professional services for new and existing customers. A majority of the work is expected to begin immediately.

Mark Munro, CEO of InterCloud Systems stated, "Over the last six months, we have divested ourselves of non-core assets and strengthened our balance sheet. The Company's remaining assets produced over $52 million in revenue during 2016. In addition to our divestments, we have significantly reduced our operating expenses with the goal of operating on a cash flow positive basis."

Mark Munro added, "Notwithstanding these divestments and cost-cutting measures, we are continuing to drive revenue through our remaining subsidiaries and develop partnerships for our NFVgrid platform. As we complete our business restructuring, we will soon be in a position to partner with and acquire new assets that are better suited for growth in a cash flow positive environment."


About InterCloud Systems, Inc.

InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud's website at www.intercloudsys.com.

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