FTE Networks Growth in Texas Leads to Office Move New Location
Underscores FTEs Commitment to Customers & Employees
NAPLES, FL -- December 27, 2016 -- InvestorsHub NewsWire
-- FTE Networks, Inc. (OTCQX:FTNW)
("FTE" or the "Company"), a leading network infrastructure
solutions provider to the technology and communications service
provider industries, today announced a relocation of its Dallas
office and warehouse facilities to larger quarters in Irving,
Texas.
The new FTE location comes as a part of FTEs expansion and
growth in the region, which has contributed to the companys current
backlog of $55 million in annualized revenues and $166 million
pipeline over the next three years.
Michael Palleschi, CEO and Chairman of the Board, FTE Networks,
Inc., commented, Over the last 12 months, FTE has seen expansion of
its business in North Texas, specifically with tier one carriers
and OEMs, as our clients realize considerable value from our
expertise in designing and building state-of-the-art fiber
networks.
The new location in the Dallas Metroplex sits on a 6-acre
multi-tenant property that boasts 3,000 square feet of general
office space, fenced yard, and a warehouse that includes a concrete
entry ramp designed to accommodate trucks and heavy machinery and 3
equipment bays to enable large-scale equipment to be moved easily
in and out of the building. The building's close proximity to DFW
Airport and central to the Dallas/Fort Worth region will benefit
customers, employees and suppliers.
This new office space reflects not only the continued success of
FTE, but also the strong collaboration across our operations in the
region, said Lynn Martin, COO of FTE Networks, Inc. The relocation
supports the momentum of our growth and expansion, provides a
better work environment for current and future staff, and
underscores our commitment to both our customers and our
employees."
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