FTNW should already be trading well above $10/Share!!!!!
NAPLES, Fla., Jan. 03, 2019 (GLOBE NEWSWIRE) -- FTE Networks, Inc. (NYSE American:FTNW) ("FTE" or the "Company"), a leading provider of innovative technology solutions for smart platforms, network infrastructure and intelligent buildings, and a Deloitte 2018 Technology Fast 500 Winner (#95), today announced that it has been awarded approximately $129.6 million in new infrastructure projects during the fourth quarter of 2018, bringing the Company's 2018 contract awards total to approximately $572.4 million.
The new contract awards to FTE and its subsidiaries cover a variety of infrastructure projects, with prominent customers including a leading global investment and market management firm, a globally recognized technology leader, and a major cable and telecommunications company. Projects to be performed under the contracts include interior buildouts as well as technology and smart device deployments, primarily at locations throughout New York City and the surrounding boroughs. Work associated with these new contract wins is largely expected to be completed within the next 12-18 months.
"Closing 2018 with $572.4 million in new contract awards is an exceptional accomplishment," commented Michael Palleschi, President and Chief Executive Officer of FTE Networks. "The ability to secure new customers and continue to secure awards within our existing client base illustrates our strong presence and reputation in the market. Our team continues to execute our strategic vision to create and maintain the entire in-building ecosystem, from design through implementation of data systems and intelligent networks. I am confident in our ability to continue this momentum into 2019."
