FTE Networks, Inc. (FTNW) enables communications service providers, government and enterprise customers to meet advancing technology requirements via network infrastructure and leading-edge computing solutions. With a focus on smart design, open architectures and consistent standards, along with expertise in building, operating, and maintaining networks, the company solves complex network and system challenges that reduce costs and deployment time to accelerate delivery and optimize performance of network infrastructure.
The services provided by FTE Networks are in great demand. In less than a decade, we’ve seen multiple networks spring up that are now connecting hundreds of millions of people. The largest one, Facebook, surpassed an astounding one billion users earlier this year as it advanced on its mission to “connect the world”. Facebook and other networks sharing the same goal are achieving great success by connecting more and more people every day. However, the explosive growth in data usage also requires proper network infrastructure.
FTE Networks lives by the mission of “enabling the connection” that is allowing so many businesses to thrive in today’s globally connected environment. The company provides end-to-end network infrastructure solutions and focuses primarily on the burgeoning technology & communications networks industries. Current customers and target markets include tier 1 & 2 carriers, network infrastructure providers, OEMs, major ISPs and government.
When you consider just a few of the latest statistics, it becomes clear how much this company’s services are needed. Today, there are approximately 7.3 billion people, 3.4 billion internet users, and 2.3 billion active social media users. And all those numbers are growing. Networks will soon need to have the capacity to connect hundreds of millions of new people, and significant constraints or delays won’t be acceptable.
FTE Networks’ strategy includes optimizing its customer base through strategic partnerships, expanding recurring revenue with high margins, pursuing continuous improvement, leveraging innovative technology and expertise, deploying a world-class managed network services platform and capturing new growth opportunities on an ongoing basis. The strategy is clearly working well, with 19 locations across the country, favorable growth characteristics, and continued momentum heading into 2017.
Looking back over 2016, revenue increased significantly, and the final total is expected to be 50% greater than what was generated in 2015. There have also been tremendous gains in gross profits, with the third quarter bringing in $1.4 million, which is a 159% increase from the same period last year. Additionally, gross margins were improved from 14% to 37% year-over-year, and the company achieved positive income from operations.
In a recent news release, Chairman and SEO Michael Palleschi stated that the company anticipates continuing to drive incremental growth quarter-over-quarter throughout 2017 and beyond. Going forward, FTE Networks will focus on pursuing accretive growth opportunities through mergers and acquisitions that are expected to solidify its position as a leader in the infrastructure solutions business segments, while also accelerating the launch of its exciting Managed Services platform.
- Core business markets have huge growth opportunity
- Increasing national and global reach with diversified service offering
- Increasing competitive position via new operating model
- Track record of success and clean capital structure