SOURCE: WPCS International Incorporated

WPCS International Incorporated

December 06, 2016 08:31 ET

WPCS Announces $2.6 Million in New Contracts During November

Backlog as of October 31, 2016 totaled $17.0 Million, an increase of 29% as compared to April 30, 2016

SUISUN, CA--(Marketwired - Dec 6, 2016) - 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 $2.6 million in new contracts during November 2016.

According to Sebastian Giordano, Chief Executive Officer of WPCS, "With these new contracts, we continue to demonstrate consistent growth in our business. Our final total backlog as of the second quarter ended October 31, 2016 was $17.0 million, an increase of approximately 29% as compared to $13.2 million as of our fiscal year end April 30, 2016."

The two most significant contracts secured in November included:

  • $1.46 million audio-visual equipment and integration project related to scheduling boards that serve eleven San Francisco transportation systems; and,

  • $480,000 sole source contract with the Department of Public Health & Department of Public Works allowing WPCS to do business directly with the City of San Francisco.

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 in California and Texas. 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.

Contact Information

  • COMPANY CONTACT

    Mr. David Allen
    Chief Financial Officer
    WPCS International Incorporated
    Phone: 707.759.6008
    Email: Email Contact

    INVESTOR CONTACT

    Mr. Valter Pinto
    Partner
    Capital Markets Group, LLC
    Phone: 914.669.0222 x201
    Email: Email Contact
    www.CapMarketsGroup.com