SUISUN, CA--(Marketwired - Sep 20, 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 that it added $3.8 million of new contracts in August 2016.
According to Sebastian Giordano, CEO of WPCS, "During July, our opportunity pipeline increased 53.6% from the prior month, driven by a series of new organic growth initiatives launched last fiscal year. Early indications demonstrated that such initiatives were, in fact, creating new business opportunities for us, as we announced in August that 33% of the $2.7 million in new contracts awarded WPCS during the first quarter of fiscal 2017 were as a direct result of these efforts. Now, we start Q2 with our single, largest new contract-signing month in nearly a year and a half, including:
- $2.2 million for distributed antenna systems for two major hospitals;
- $980k for audio-visual (AV) work for a large hospital; and,
- $350k for the installation of a paging and AV system for a major sports arena.
Our business development and operations team is doing an outstanding job in sourcing and securing new opportunities, expertly leveraging our outstanding reputation, long-standing customer relationships and expanded service offerings."
ABOUT WPCS INTERNATIONAL INCORPORATED
WPCS provides contracting services to the public services, healthcare, energy and corporate enterprise markets in the United States. For more information, 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.