InterCloud Systems Awarded New Contracts Valued at Approximately $2.4 Million
SHREWSBURY, N.J., March 10, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (OTC:ICLD), a leading provider of networking orchestration and automation solutions and services, today announced that it was recently awarded approximately $2.4 million in new contracts for professional services for new and existing customers. A majority of the work is expected to begin immediately.
Mark Munro, CEO of InterCloud Systems stated: “We have announced previously that we have undertaken measures to reduce our operating expenditures, divest ourselves of non-core assets and strengthen our balance sheet. Notwithstanding these belt tightening measures, our subsidiaries continue to drive revenue and receive new contracts from some of the world’s largest service providers and enterprise customers.”
Mr. Munro continued: “We will be releasing our financials for the period ending December 31, 2016 next week. We believe that our cost cutting measures and recent debt reductions will help the Company present a stronger balance sheet and achieve a positive near term impact.”
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a leading provider of networking orchestration and automation, for Internet of Things ( IOT ), Software Defined Networking (SDN) and Network Function Virtualization (NFV) environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing network deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud's website at www.intercloudsys.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.
CONTACT: Investor Relations InterCloud Systems, Inc. 561-988-1988