SUISUN, CA--(Marketwired - Jan 17, 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 $1.5 million new contracts signings in December 2016. Since April 30, 2016, the end of the Company's last fiscal year, backlog has increased 31.3% to $17.3 million as of December 31, 2016.
Sebastian Giordano, Chief Executive Officer of WPCS, commented, "Long-standing relationships with current customers and change orders on existing projects continue to fuel steady growth in our business and were the predominant sources of December's new contract signings, including:
- $715,000 for wireless remediation cabling at a top medical center; and,
- $205,000 for running cable for a paging and security system at a major hospital.
We believe that our growing backlog, the Company's highest levels since July 31, 2014, bodes well for potential future revenue as we head into the latter part of fiscal 2017."
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.