FTE NETWORKS ANNOUNCES $37.2
MILLION IN SEVERAL NEW BENCHMARK BUILDERS CONTRACT
AWARDS
Adds 200,000 Square Feet in Buildout to Expansive Portfolio of
Projects in Manhattan and surrounding New York City Markets
Naples, FL -- December 14, 2017 -- InvestorsHub NewsWire --
FTE
Networks, Inc. (NYSE
American: FTNW) ("FTE" or the "Company"), a leading
provider of innovative technology-oriented solutions for smart
platforms, network infrastructure and buildings, today announced
that its wholly owned subsidiary, Benchmark Builders, Inc.
(Benchmark), was awarded new interior build out and infrastructure
contracts valued at approximately $37.2 million.
Michael Palleschi, President and CEO of FTE Networks stated,
"These new contract awards further demonstrate the value and market
adoption of the Company's strategic solutions. The three
complimentary businesses - FTE Network Services, CrossLayer, Inc.,
and Benchmark Builders, Inc. provide superior skill and expertise
in creating intelligent, efficient, and sustainable smart network
connectivity platforms, infrastructure, and buildings. Our ability
to effectively integrate our service offerings and realize these
synergies provides significant benefits to our customers.
"I am excited about the Company's continued positive momentum
achieved during 2017. The synergistic operating benefits and the
Company's ability to provide general contracting solutions,
self-perform a large portion of the infrastructure build outs and
provide high margin technology solutions continue to positively
impact our growth and profitability. We believe these contract
awards will further strengthen our foundation and enable the
Company's continued growth and our ability to execute against the
Company's strategies in 2018." said Mr. Michael Palleschi,
President and CEO of FTE Networks.
"We are delighted at the market's acknowledgement of the
superior quality of service we provide. These awards demonstrate
our ability to retain existing customers and experience
re-occurring projects as well as attract new high caliber clients.
Our exceptional team continues to deliver on our commitment to
excellence to our customers." said Fred Sacramone, President of
Benchmark Builders, Inc.
About FTE Networks, Inc.
FTE Networks, Inc. ("FTNW"),
is a leading provider of innovative technology-oriented solutions
for smart platforms, network infrastructure and buildings. FTE's
three complementary businesses are FTE Network Services,
CrossLayer, Inc. and Benchmark Builders, Inc. Together they provide
end-to-end design, build and support solutions for state-of-the-art
networks and commercial properties to create the most
transformative smart platforms and buildings. FTE's businesses are
predicated on smart design and consistent standards that reduce
deployment costs and accelerate delivery of innovative projects and
services. The Company works with Fortune 100/500 companies,
including some of the world's leading communications services
providers. FTE Networks and its subsidiaries support multiple
services, including Data Center Infrastructure, Fiber Optics,
Wireless Integration, Network Engineering, Internet Service
Provider, General Contracting Management and General Contracting.
For more information, please visit www.ftenet.com.
Note on Forward-Looking Statements
This release may contain "forward-looking statements" within the
meaning of the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: "believe," "will,"
"growth," "contribute," "momentum," and similar references to
future periods. Examples of forward-looking statements in this
release may include, without limitation, statements and forecasts
we make regarding our financial performance and operating results,
including statements regarding the effect we believe these
contracts will have on our operating results; our strategies for
continued growth and market expansion; and other matters that
involve known or unknown risks, uncertainties and other factors
that may cause our results, levels of activity, performance or
achievements to differ materially from results expressed or implied
by this release.
Forward-looking statements are neither historical facts nor
assurances of future performance. Instead, they are based only on
our current beliefs, expectations, and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and market trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. These risk factors and others are
included from time to time in documents we file with the Securities
and Exchange Commission, including but not limited to, our Form
10-K's, Form 10-Q's and Form 8-K's. Our actual results and
financial condition may differ materially from those indicated in
the forward-looking statements. Accordingly, you should not place
undue reliance on these forward-looking statements. Any
forward-looking statement made by us in this update is based only
on information currently available to us and speaks only as of the
date on which it is made. We undertake no obligation to publicly
update any forward-looking statement, whether as a result of new
information, future developments or otherwise.
Media and Investor Relations:
FTE Networks, Inc.
999 Vanderbilt Beach Rd., Suite 601
Naples, FL 23108
(877) 850-4308
ir@ftenet.com
NYSE American: FTNW