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
released a shareholder letter from Michael Palleschi, President and
CEO, providing an update on the Company’s activities and strategy
for growth in the future.
Dear Fellow Shareholders,
Happy New Year! Today I have the honor of
ringing the historic New York Stock Exchange (“NYSE”) opening bell.
To mark this occasion, I wanted to take the time to update our
valued shareholders on recent activities and plans for the
future. Since our last shareholder update in October 2017, we
have achieved several important milestones, making 2017 one of the
most transformative years in the history of our Company. With FTE’s
recent launch of our transformative technology powered by
CrossLayer and the successful integration of Benchmark Builders
into our previously existing FTE business, we believe our business
model provides us a competitive edge in the technology and
infrastructure market and will play a key role in driving our
growth in 2018 and beyond.
A Unique Business Model
FTE is a technology company that is leveraging
its market presence in the network infrastructure and general
contracting verticals as sales and operations channels for its
innovative edge computing technology. In addition to enabling
adaptive and efficient smart network connectivity platforms,
infrastructure, and buildings, FTE provides end-to-end design,
build, and support solutions for state-of-the-art networks, data
centers, and residential and commercial properties.
Our business is now comprised of three
complementary businesses whose combined operating benefits provide
cutting-edge technology solutions to our client base that includes
Fortune 100/500 companies, some of the world's leading
Telecommunications and IT Services Providers as well as REITs and
Media Providers, and, in turn, contributes to improved margins that
ultimately impact our growth and profitability.
With technology guiding all that we do, we are
confident in the path we are forging to offer unrivaled breadth and
quality of solutions to our customers.
A Transformational 2017
We believe our advancements in 2017 established
a strong foundation for our business to begin capitalizing on a
multi-prong growth opportunity that lies before us.
We integrated Benchmark Builders, a premier
general contractor, with a powerful industry brand and strong
presence in the New York City metropolitan market. We also
launched CrossLayer, our Edge Computing solution that efficiently
uses low-cost commodity servers that are scalable and upgradable
through open source software, facilitate new capabilities that
enable network, cloud, content and data to converge into a single
network platform in an environment that evolves with
technology.
We believe that our technology platform is
central to fully realizing the cross-company synergies and rapidly
penetrating our target markets. By leveraging our client base and
our network infrastructure operation we will support this growing
building network with integrated network services, cutting edge
technology, and facility management services, from conception to
completion – a disruptive solution.
As FTE continues to grow, we believe it is
important to build a culture of execution and delivering on the
Company’s stated corporate objectives. In our last shareholder
update, we shared our plans relative to an uplisting to a national
exchange. In our final pivotal moment in 2017, we had the
distinction of completing our uplisting and to see our common stock
begin trading on the NYSE American in December.
Uplisting to the NYSE American gives us a larger
platform for us to communicate our progress to a broader audience
and will enable us to expand and diversify our shareholder base.
Combined with our recently announced engagement of KCSA Strategic
Communications for Public and Investor Relations to support these
communication goals, we believe we are now better positioned to
attract a broader range of institutional investors.
Additionally, we continued to deliver on our
operational goals and add to our growing backlog by our
announcement of contract MSA awards with new and existing
customers. These awards not only served to expand and
strengthen our footprint in existing markets, they helped open a
few new markets as well.
Looking Ahead to 2018 and Beyond
We expect 2018 to be another year of tremendous
growth for FTE. Thanks to the successful integration of our
complementary businesses, we are now able to focus on our dynamic
growth strategy.
As we hope to have reinforced in this letter, we
believe FTE has a clear roadmap to delivering sustainable growth.
By leveraging our innovative technology as the foundation for our
expansion initiatives, we hope to realize the full benefits of our
three complementary businesses.
By performing many of our infrastructure
projects internally, we believe we will be in a position to
maximize profitability. Additionally, by marketing scalable and
upgradable technology to our existing client base, we anticipate
re-occurring revenues from clients with whom we expect to maintain
long-term relationships, building trust and continuing to provide
value through our technology solutions.
FTE plans to continue to invest in its
technology solutions and to protect these technologies by building
a robust patent estate around its key features. In addition, we
believe we are well positioned to support the market penetration
and sales efforts of our technology platform by making the required
investments to expand the sales channels and feed the growth.
We are confident that FTE will continue to
benefit from a strong market presence and customer recognition in
New York City, and believe that it is well positioned to
satisfy the market need, with access to more than 200 REITS and an
impressive reoccurring Fortune 100/500 customer portfolio that have
a national footprint.
All told, we are confident in our technology
focused business model. We look forward to building shareholder
value by expanding our client base, increasing profitability, and
reaching a broader and more institutional shareholder base with our
listing on the NYSE American.
Thank you for your continued commitment to FTE Networks. We look
forward to sharing our continued progress with you in 2018 and
beyond.
Sincerely,
Michael PalleschiPresident and CEO
About FTE Networks, Inc.FTE
Networks, Inc. ("FTNW") is a leading provider of innovation
technology. We enable adaptive and efficient smart network
connectivity platforms, infrastructure and buildings. FTE provides
end-to-end design, build, and support solutions for
state-of-the-art networks, data centers, residential and commercial
properties. We create transformative smart platforms and
buildings. FTE's services are predicated on smart design and
consistent standards that reduce deployment costs and accelerate
delivery of leading edge projects and services. The Company works
with Fortune 100/500 companies, including some of the world's
leading Telecommunications and IT Services Providers as well as
REITs and Media Providers.
For more information, please visit
www.ftenet.com.
Forward-Looking StatementsThis
press 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,”
“anticipate,” “confident,” “plans,” “expect,” 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 performance, our
plans and strategies for growth and market expansion as a result of
what we believe to be a unique business model and service
offerings, 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.
For more information, please
contact:
Investor Contact:Phil Carlson / Steve
SilverKCSA Strategic CommunicationsPhone: (212) 896-1233 / (212)
896-1220Email: pcarlson@kcsa.com / ssilver@kcsa.com
Media Relations Contact:Kate Tumino / Zoe
TobinKCSA Strategic CommunicationsPhone: (212) 896-1252 / (212)
896-1251Email: ktumino@kcsa.com / ztobin@kcsa.com
Corporate Contact: Kirstin
GooldyChief Compliance
OfficerFTE Networks, Inc. 999 Vanderbilt
Beach Rd., Suite 601 Naples, FL 23108 (877) 850-4308 ir@ftenet.com
NYSE American: FTNW
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