- After growing revenues to $34.5 million, SGSI says that it is in an advantageous position to win more contracts
- SGSI has received more than $3.7 million in new contracts to support carrier network upgrades
- SGSI CEO sees accelerated growth for the company in 5G implementation
Spectrum Global Solutions Inc. (OTCQB: SGSI) projects its volume to increase in 2019, based on a combination of organic growth and post-accretive acquisitions. SGSI is a single-source provider of wireless and wireline network infrastructure and professional service solutions to the service provider (carrier) and corporate enterprise markets (http://nnw.fm/8lYfe).
SGSI CEO and Chairman Roger Ponder said in a news release that the company’s future growth would stem in large part from the implementation of 5G, network upgrades and the installation of millions of “small cells.” The company’s sales in 2018 grew to $34.5 million from $10.8 million in 2017, and SGSI is in an advantageous position to win more contracts versus competitors that are unable to meet service provider criteria (http://nnw.fm/VP3aW). SGSI has received more than $3.7 million in new contracts to support carrier network upgrades.
“Attention about 5G has been focused on the publicly announced plans of major telecom companies to install millions of ‘small cells’ on electric utility poles, on public buildings and schools, on bus stop shelters, in public parks and other public and private owned infrastructure,” Ponder said in a news release. “All these ‘small cells’ will require new fiber connections to transmit the ever-increasing data being consumed. These plans provide tremendous new opportunities in both engineering and installation services for our company.”
Commenting on the $3.7 million in new work orders, Ponder added, “These work orders from new and existing clients continue to show the accelerated growth predicted as a result of national 5G implementations and ongoing network upgrades that have begun this year.”
SGSI is a leading provider of telecommunications engineering and infrastructure services in the United States, Puerto Rico, Canada, Guam and the Caribbean. The company’s investor presentation says that expanding its service footprint and offering new services enable SGSI to provide a deeper, wider breadth of services.
For more information, visit the company’s website at www.SpectrumGlobalSolutions.com
NOTE TO INVESTORS: The latest news and updates relating to SGSI are available in the company’s newsroom at http://nnw.fm/SGSI
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com