Spectrum Global Solutions Receives Over $1.9 Million in New Contract Awards

LONGWOOD, Fla., Aug. 13, 2018 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc., (OTC:SGSI) (the “Company”), a single-source provider of end-to-end next-generation wireless and wireline network services and staffing solutions to the service provider (carrier) and corporate enterprise markets, has received over $1.9 Million in new contract awards. The customer orders include network audit, fiber deployment, structured cabling, fiber and small cell design services and staffing solutions to support next generation wireless and wireline services across the nation. This work has commenced through our AW Solutions and ADEX subsidiaries, and the revenue will be realized from Q3 onwards into 2019.   

Roger Ponder, CEO said, “We have now reported in the last 12 weeks nearly $12 Million in new contract awards”.   These new contracts and purchase orders are being received at a much higher pace this year over last.  As our customers continue to deploy new network infrastructure to bolster their end client services, Spectrum is being called upon to rapidly deploy resources to meet this increased customer demand.  

Mr. Ponder added: “In a short while we will release our quarterly earnings report.  This will be the first Quarter that includes a fully integrated Company.  We expect to show in our 10Q for the period that we are tracking to meet a $30 Million plus annual gross revenue run rate.   In in the coming months we will look for ways to increase our profit margins, grow   organically and through strategic acquisitions, and increase shareholder value”. 

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.

Forward-looking statements:
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CONTACT:
                    Investor Relations
                    Spectrum Global Solutions
                    561-672-7068