NAPLES, FL --(Marketwired - October 28, 2016) - FTE Networks, Inc. (OTCQX: FTNW) ("FTE" or the "Company"), a leading network infrastructure and managed services provider to the technology and communications industries, today announced that it has signed a services agreement with a next generation Competitive Local Exchange Carrier (CLEC) allowing it to expand its existing fiber infrastructure services in the East and Midwest Regions of the US, supporting the company's continued increase in revenue and improving its gross margins.
High demand for infrastructure services, due to several large telecom providers and major ISPs modernizing infrastructure, continues to strengthen FTE's presence and adds to pipeline growth capability and market opportunity valued at approximately $170 million in revenues through 2019.
Anthony Sirotka, Chief Business Development Officer of FTE Networks (FTNW), commented, "This reiterates the strength of the network infrastructure market and investment in fiber expansion to support customers' increasing demand for high bandwidth access to data. New technologies and the growing penetration of cloud computing, smart grids and e-learning, are continuing to drive the Fiber market growth between 2015 and 2025."
"The growth in demand for bandwidth -- both wired and wireless -- is not slowing. Both consumers and businesses are using more and more data to enable their social lives, find their entertainment, support their customers, and chat with family and friends," says Iain Gillott, President and Founder of iGR, based in Austin TX. "More and more fiber is needed to support the networks that consumers and businesses rely on. Whether the fiber is to a residence, a business or a cell tower, fiber is critical to operators' ability to support their customers."
About FTE Networks, Inc.
FTE Networks is on the leading edge of network transformation helping communications service providers, government and enterprise customers evolve their networks to meet advancing technology requirements via network infrastructure, and edge computing solutions to quickly enhance service innovation and deliver new revenue streams. With a focus on smart design, open architectures and consistent standards, along with expertise in building, operating, and maintaining networks, FTE solves complex network and system challenges that reduce costs and deployment time to accelerate delivery and optimize performance of network infrastructure. Operating five (5) industry segments; Data Center Infrastructure, Fiber Optics, Wireless Integration, Network Engineering, and Compute to the Edge, FTE Networks is headquartered in Naples, Florida, with offices throughout the United States and Europe. For more information, please visit: www.ftenet.com.
This release may contain forward-looking statements relating to the business of FTE. All statements other than historical facts are forward-looking statements, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. These statements involve risks and uncertainties that may cause actual results to differ materially from those anticipated, believed, estimated or expected. These risks and uncertainties are described in detail in our filings with the Securities and Exchange Commission. Forward-looking statements are based on FTE's current expectations and beliefs concerning future developments and their potential effects on FTE. There is no assurance that future developments affecting FTE will be those anticipated by FTE. FTE undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.