SUISUN, CA--(Marketwired - Feb 28, 2017) - WPCS International Incorporated (NASDAQ: WPCS), a full-service low-voltage solutions provider in the business of developing, installing and servicing integrated structured cabling, audio-visual and security systems, today announced $1.1 million new contract signings in January 2017.
Sebastian Giordano, Chief Executive Officer of WPCS, commented, "Our current backlog remains steady at approximately $17.1 million, the Company's highest levels since July 31, 2014 and which demonstrates strong potential future revenue as we head into the latter part of fiscal 2017. The predominant sources of January's new contract signings, included:
- $700,000 for an audio-visual contract with an educational institution; and,
- $100,000 for a structured cabling project with an existing biotech customer.
Moreover, our new security products division generated approximately $75,000 in sales in January, its highest monthly total since it was launched earlier this fiscal year."
ABOUT WPCS INTERNATIONAL INCORPORATED
WPCS is a full-service, low-voltage solutions provider, installing and servicing integrated structured cabling, audio-visual and security systems for public services, healthcare, energy and corporate enterprise markets in the United States. The Company delivers end-to-end solutions, superior project management and best-in-class products and technology. For more information about WPCS, please visit www.wpcs.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including, but not limited to, statements with respect to the Company's future growth opportunities and strategic plan. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.