FTE Networks Awarded New Contracts Totaling Approximately $42.7 Million

Infrastructure Segment Contract Awards to Date Total Approximately $240.5 Million

NAPLES, Fla., July 10, 2018 (GLOBE NEWSWIRE) -- FTE Networks, Inc. (NYSE American:FTNW) ("FTE" or the "Company"), a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and intelligent buildings, today announced that its infrastructure segment has been awarded approximately $42.7 million in new projects in June of 2018, bringing the Company’s year-to-date total to approximately $240.5 million. The new contract awards cover a variety of infrastructure projects, including two premier international law firms, a New York City government agency, and leading cable and telecommunications carriers.

“June was an excellent month in terms of new contract wins, bringing our second quarter to a successful close.  We have increased confidence in our goals and are on target for meeting our 2018 stated objectives.  We continue to enjoy a healthy backlog and believe that these new awards highlight the strength in our brand,” said Michael Palleschi, President and CEO of FTE Network.

Mr. Palleschi further added, “Market strength within our infrastructure segment continues to support our technology segment. FTE’s innovative CrossLayer technology provides carrier-grade in-building wireless connectivity services that enable intelligent buildings.  We offer property owners a new approach, combining technology and infrastructure services, thereby positioning us to rapidly expand our market share in both business segments.”

About FTE Networks, Inc. 

FTE Networks, Inc. ("FTNW") is a leading provider of innovation technology.  We enable adaptive and efficient smart network connectivity platforms, infrastructure and buildings. FTE provides end-to-end design, build, and support solutions for state-of-the-art networks, data centers, residential and commercial properties. We create transformative smart platforms and buildings. FTE's services are predicated on smart design and consistent standards that reduce deployment costs and accelerate delivery of leading edge projects and services. The Company works with Fortune 100/500 companies, including some of the world's leading Telecommunications and IT Services Providers as well as REITs and Media Providers.

Forward-Looking Statements 

This release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “believe,” “confidence,” “goals,” “target,” and similar references to future periods. Examples of forward-looking statements in this release may include, without limitation, statements and forecasts regarding our ability to successfully leverage these newly awarded contracts to increase our market share and meet our previously stated objectives; and our belief that new contract awards in one segment will lead to new contract awards in another segment, and other matters that involve known or unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to differ materially from results expressed or implied by this release. 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 market 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. These risk factors and others are included from time to time in documents we file with the Securities and Exchange Commission, including but not limited to, our Form 10-Ks, Form 10-Qs and Form 8-Ks. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. Any forward-looking statement made by us in this 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 as a result of new information, future developments or otherwise.

For more information, please contact:

Corporate Contact:
Kirstin Gooldy
FTE Networks, Inc.
Phone: (877) 850-4308
Email: ir@ftenet.com

Investor Contact:
Ted Haberfield
MZ Group
Phone: (760) 755-2716
Email: thaberfield@mzgroup.us 

Source: FTE Networks, Inc.

Released July 10, 2018