LONGWOOD, Fla., May 17, 2018 (GLOBE NEWSWIRE) -- -- Spectrum Global Solutions, Inc., (OTC:SGSI) (the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network services and solutions to the service provider (carrier) and corporate enterprise markets, has received over $1.5 Million in new contract awards. The customer orders include network audit and deployment services to support next generation wireless and wireline services across the nation. This work has commenced through our AW Solutions and ADEX subsidiaries, and the revenue will be realized through Q3 and Q4 of 2018.
Roger Ponder, CEO said, " We continue to build upon our backlog with significant new business. Our backlog of new business, contracts in hand where work has not started, currently exceeds $12 Million. Our pipeline of new opportunities we are pursuing exceeds $125 Million and is growing, as recent tax changes have spurred increased capital/infrastructure spending by major telecom carriers.”
Mr. Ponder added: “Spectrum, because of its suite of services, has a competitive advantage within the enterprise and service provider markets and is well positioned to take advantage of this increased capital spending by carriers. This increase in revenue and earnings should translate into value for our shareholders near and long term.
About Spectrum Global Solutions, Inc.:
Spectrum Global Solutions operates through its subsidiaries AW Solutions, ADEX Corp and Mantra Energy Alternatives. The Company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean.
The Company’s subsidiary Mantra Energy Alternatives develops electrochemical technologies designed to make profitable the reducing of greenhouse gas emissions. For more information about the Company and its technologies visit the Company’s public filings at SEC.gov.
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
Spectrum Global Solutions
561-672-7068
