InterCloud Systems Awarded Over $1.2 Million in New Contracts and Purchase Orders
SHREWSBURY, N.J., Oct. 02, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (OTC:ICLD), a leading provider of network solutions and services, today announced that it was recently awarded new contracts from new and existing customers valued at over $1.2 Million. In addition, the Company’s subsidiaries have begun to receive purchase orders for hurricane repair efforts in Florida and expect to receive additional purchase orders for Texas with local service providers.
Mark Munro, CEO of InterCloud Systems stated, “The hurricane telecom rebuilding projects have started to move forward now that the engineers can get to the sites in the damaged areas. Our teams have a tremendous amount of experience in disaster work efforts. During 2005 and for several years thereafter, our telecom services division reported approximately $55 million of billings related to Hurricane Katrina alone. The divisional managers have been preparing for larger scale deployments as waters recede and work crews are able to be deployed. In addition, we have provisionally reached a settlement agreement on our legacy class action lawsuits that we expect will be closed by year end. Lastly, it is our expectation that we can restructure our remaining debt during the fourth quarter of 2017. We have been diligently working on a plan to move forward and rebuild shareholder value and company momentum.”
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud 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.
InterCloud Systems, Inc.