NEW YORK, Jan. 08, 2016 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (NASDAQ: ICLD ), a leading provider of cloud networking orchestration and automation solutions and services, today announced that during the last few weeks of the calendar year it was awarded over $2.3 million in new contracts for professional and managed services, as well as for the deployment of InterCloud’s DPoD, hyper-converged private cloud solution. All of these services are expected to begin shortly.
Mark Munro, CEO of InterCloud Systems stated: "Our sales organization closed out its best year ever with several large new contracts and over $7M in cash. Throughout the last twelve months our revenue and adjusted EBITDA growth has been significant over 2014. Management made tremendous strides during 2015 in integration savings, new industry leading cloud products and services rollouts, and several significant contract wins with some of the world's largest carriers. Our pipeline of sales opportunities remains at an all time high of over $149,000,000 and we have maintained a significant backlog of business to carry us into an exciting 2016. Our plans are to continue to build our cloud sales pipeline and backlog of recurring revenue. We have seen a major shift in enterprise and carrier customers willingness to deploy private cloud solutions with SDN (software defined network) and NFV (network function virtualization) at their core. The momentum is far greater than it was at the beginning of 2015 and our team is prepared to take advantage of this growth market this year and beyond."
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud's website at www.intercloudsys.com .
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
CONTACT: Investor Relations InterCloud Systems, Inc. 561-988-1988
