Leading telecommunications engineering and infrastructure services provider Spectrum Global Solutions (OTC: SGSI) this morning announced its receipt of over $5.7 million in new contract awards during Q3 of 2018. Work on the new orders commenced in the third quarter with realized revenues expected in 2018 and into 2019. According to the update, SGSI continues to see an increase in client orders, both domestically and in the Caribbean, for its preconstruction and construction services to support future small cell densification, distributed antennas systems (“DAS”), fiber network expansions and 5G wireless technology projects. The company also anticipates increased demand for its services to support recovery efforts due to recent storms. “With new bank financing at our disposal, we can more aggressively pursue the new contract work being made available to us,” Spectrum CEO Roger Ponder stated in the news release. “With these latest contract awards, we are now tracking well over $35 million in annual revenue and are moving closer to profitability.”
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About Spectrum Global Solutions, Inc:
Spectrum Global Solutions operates through its subsidiaries AW Solutions and ADEX Corp. The Company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico, Guam and Caribbean. For more information about the Company and its technologies visit the Company’s public filings at SEC.gov or its website at SpectrumGlobalSolutions.com.
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