LONGWOOD, Florida, Oct. 25, 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 solutions to the service provider (carrier) and corporate enterprise markets, announced that it has received over $5.7 million in new contract awards during the third quarter 2018. These new customer orders are to provide professional services, project management, engineering design, network auditing, construction, installation and network upgrade services for new state of the art, next generation communications systems. The work commenced in the third quarter and the revenue will be realized in 2018 and into 2019.
Roger Ponder, CEO said; "We continue to see an increase in client orders, both here and in the Caribbean, for the pre-construction and construction services necessary to support future small cell densification, distributed antennas systems (DAS), fiber network expansions and 5G wireless technology projects. We also expect to see increased demand for our services because of recovery efforts from recent storms. With our new bank financing at our disposal we can more aggressively pursue this contract work being made available to us. With these latest contract awards, we are now tracking well over $35 million in annual revenue and moving closer to profitability.”
About Spectrum Global Solutions, Inc:
Spectrum Global Solutions operates through its subsidiaries AW Solutions and ADEX Corp. The Company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. For more information about the Company and its technologies visit the Company’s public filings at SEC.gov.
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