FTE Networks Expands Fiber Infrastructure Services Business in
the East & Midwest Regions
Signs Services Agreement with Next Generation CLEC
NAPLES, FL -- October 28, 2016 -- InvestorsHub NewsWire --
FTE Networks, Inc. (OTCQX:FTNW)
("FTE" or the "Company"), a leading network infrastructure and
managed services provider to the technology and communications
industries, today announced that it has signed a services agreement
with a next generation Competitive Local Exchange Carrier (CLEC)
allowing it to expand its existing fiber infrastructure services in
the East and Midwest Regions of the US, supporting the companys
continued increase in revenue and improving its gross margins.
High demand for infrastructure services, due to several large
telecom providers and major ISPs modernizing infrastructure,
continues to strengthen FTEs presence and adds to pipeline growth
capability and market opportunity valued at approximately $170
million in revenues through 2019.
Anthony Sirotka, Chief Business Development Officer of FTE
Networks (FTNW),
commented, "This reiterates the strength of the network
infrastructure market and investment in fiber expansion to support
customers increasing demand for high bandwidth access to data. New
technologies and the growing penetration of cloud computing, smart
grids and e-learning, are continuing to drive the Fiber market
growth between 2015 and 2025.
The growth in demand for bandwidth both wired and wireless is
not slowing. Both consumers and businesses are using more and more
data to enable their social lives, find their entertainment,
support their customers, and chat with family and friends, says
Iain Gillott, president and founder of iGR, based in Austin TX.
More and more fiber is needed to support the networks that
consumers and businesses rely on. Whether the fiber is to a
residence, a business or a cell tower, fiber is critical to
operators ability to support their customers.
About FTE Networks, Inc.
FTE Networks is on the leading edge of network transformation
helping communications service providers, government and enterprise
customers evolve their networks to meet advancing technology
requirements via network infrastructure, and edge computing
solutions to quickly enhance service innovation and deliver new
revenue streams. With a focus on smart design, open architectures
and consistent standards, along with expertise in building,
operating, and maintaining networks, FTE solves complex network and
system challenges that reduce costs and deployment time to
accelerate delivery and optimize performance of network
infrastructure. Operating five (5) industry segments; Data Center
Infrastructure, Fiber Optics, Wireless Integration, Network
Engineering, and Compute to the Edge, FTE Networks is headquartered
in Naples, Florida, with offices throughout the United States and
Europe. For more information, please visit: www.ftenet.com.
Forward Looking Statements
This release may contain forward-looking statements relating to
the business of FTE. All statements other than historical facts are
forward-looking statements, which can be identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions. 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. Forward-looking statements
are based on FTE's current expectations and beliefs concerning
future developments and their potential effects on FTE. 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 as a result of
new information, future events or otherwise, except as required
under applicable securities laws.
Contacts:
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
OTCQX:FTNW
Investor Relations:
Natalya Rudman
Crescendo Communications, LLC
(212) 671-1020, Ext: 304
ftnw@crescendo-ir.com