Backlog Up 24% Since September Announcement
SHREWSBURY, N.J., Dec. 17, 2014 (GLOBE NEWSWIRE) — InterCloud Systems, Inc. ( the “Company or “InterCloud” ) (Nasdaq:ICLD), a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services, announced today that it was recently awarded several new contracts in support network expansion and OEM maintenance valued at over $2 Million. These new contracts include a long term contract with a New York City government office; Juniper Data Networking and security solutions upgrades for a major data center with multiple geographic locations and an insurance company needing system upgrades and maintenance.
Chairman and CEO Mark Munro stated, “We are excited about these new projects and long term engagements. Recently we have seen a tremendous influx of purchase orders and contracts for Cloud and Managed Services for the Company. InterCloud’s new business backlog is currently at an all-time high of over $32 Million.” Mark Munro added: “This new business backlog is up 24% over what we just reported in late September of this year. This is a tribute to our growing sales organization and a competitive edge in our markets. InterCloud’s sales pipeline continues to grow month over month offering great upside as we move into 2015.”
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud offers cloud and managed services, professional consulting and staffing services, and infrastructure and applications to assist its customers in meeting their changing technology demands. InterCloud’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing 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.
CONTACT: Investor Relations InterCloud Systems, Inc. 561-988-1988
Source: InterCloud Systems, Inc.