$2.3 Miilion in New contracts awarded to SGSI LONG
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Posted On: 07/10/2018 9:53:40 AM
$2.3 Miilion in New contracts awarded to SGSI LONGWOOD, Fla., July 10, 2018 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc., (SGSI) (“Spectrum” or the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network services and staffing solutions to the service provider (carrier) and corporate enterprise markets, is thrilled to announce that it has received over $2.3 Million in new contract awards set to be realized during Q3 and Q4 2018 reporting periods.
Roger Ponder, CEO, commented, "Our customers continue to deploy new network services and expand their coverage and offerings. Spectrum is able to support these deployments through our full suite of services across the nation. We are now targeting a pipeline of new opportunities with a revenue potential in excess of $135 million.”
The newest contract awards include network audit, fiber deployment, structured cabling, fiber and small cell design services, and staffing solutions to support next generation wireless and wireline services across the United States. Management notes that this new work has already commenced through the Company’s AW Solutions and ADEX subsidiaries.
This announcement follows a number of significant positive steps for the company over recent months, including nearly $8.8 million in new contract awards since April 1, approval by a Tier 1 wireless carrier for implementation of proprietary drone-based structural mapping technology services, and a major streamlining of the mechanical structure of the company’s issued equity through a reduction in outstanding common stock by over 216 million shares.
Mr. Ponder added: “We continue to track extremely favorably as we head into what is shaping up to be a strong back half of the year, with our gross revenue run rate topping $30 million on an annual basis for 2018 on average profit margins exceeding 25%. We will continue to aggressively seek to deliver income, value, and growth to our shareholders both organically and through strategic acquisitions and partnerships.”
About Sp
Roger Ponder, CEO, commented, "Our customers continue to deploy new network services and expand their coverage and offerings. Spectrum is able to support these deployments through our full suite of services across the nation. We are now targeting a pipeline of new opportunities with a revenue potential in excess of $135 million.”
The newest contract awards include network audit, fiber deployment, structured cabling, fiber and small cell design services, and staffing solutions to support next generation wireless and wireline services across the United States. Management notes that this new work has already commenced through the Company’s AW Solutions and ADEX subsidiaries.
This announcement follows a number of significant positive steps for the company over recent months, including nearly $8.8 million in new contract awards since April 1, approval by a Tier 1 wireless carrier for implementation of proprietary drone-based structural mapping technology services, and a major streamlining of the mechanical structure of the company’s issued equity through a reduction in outstanding common stock by over 216 million shares.
Mr. Ponder added: “We continue to track extremely favorably as we head into what is shaping up to be a strong back half of the year, with our gross revenue run rate topping $30 million on an annual basis for 2018 on average profit margins exceeding 25%. We will continue to aggressively seek to deliver income, value, and growth to our shareholders both organically and through strategic acquisitions and partnerships.”
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