LONGWOOD, Fla., Oct. 03, 2019 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc. (OTCQB: SGSI) (the “Company” or “Spectrum”), a leading single-source provider of next-generation communications network infrastructure and maintenance solutions, today announced that it recently received $3.3 million in new contract awards across all operating subsidiaries.
The new contract awards are composed of work orders from both new and existing clients, who are building upon prior work orders awarded to Spectrum in the past. The work orders are predominantly for infrastructure projects as carriers upgrade their networks in advance of the rollout of 5G in the United States.
“We continue to see strong demand for our professional services, as more and more clients realize the need for additional professional and technical staff to support ongoing projects,” said Roger Ponder, Chief Executive Officer of Spectrum Global Solutions. “Our enterprise solutions vertical continues to win new projects in support of our client’s network expansions and modifications.
“Our recently signed contract with a tier 1 infrastructure aggregator has already begun to generate purchase orders for professional engineering and design services for a new 5G network in a major metropolitan area. In addition, we have received new purchase orders for DAS installations at a number of high profile indoor facilities as well as work orders for tower audits, investigations and improvements with a major utility for their multi-state communications network. As our sales pipeline continues to grow, month over month, we see tremendous upside as we move through the balance of 2019 and into 2020,” concluded Ponder.
About Spectrum Global Solutions
Spectrum Global Solutions (OTCQB: SGSI) is a leading single-source provider of next-generation communications network infrastructure and maintenance solutions. Spectrum’s highly scalable platform model, proven out through engagements with tier-1 network operators in the United States, Canada and the Caribbean, uniquely allows for the bundling of disparate services with a single provider, simplifying network deployment and maintenance with a comprehensive, cost-competitive one-stop-shop solution. For more information about the Company and its technologies visit the Company’s public filings at www.SEC.gov or the Company’s website at https://SpectrumGlobalSolutions.com/
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
Greg Falesnik or Luke Zimmerman
MZ Group – MZ North America