×

InterCloud Systems Awarded New Contracts Valued at Over $3 Million

NEW YORK, Dec. 09, 2015 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (NASDAQ:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced that it was recently awarded over $3 million in new contracts for professional and managed services in connection with deployment of next generation network solutions as well as Distributed Antenna Systems (DAS) and WiFi networks for existing enterprise and carrier customers. The services are expected to begin immediately.

Mark Munro, CEO of InterCloud Systems stated: "Throughout 2015 our sales and engineering teams have consistently added incremental multi-million dollar services agreements. InterCloud is having its best year for all aspects of the business. Our revenue has grown significantly over 2014, gross margins are higher and our adjusted EBITDA has seen a sizable increase over 2014. Our team has lowered costs throughout the year and put InterCloud in a position to have a successful year-end and promising 2016.”

Mark Munro added, “InterCloud has leading edge SDN/NFV cloud orchestration platforms as well as a mix of services to benefit from the continued market shift to cloud and managed services in the service provider and enterprise markets. InterCloud has become a unique platform company in the next-generation IT and carrier market segments. Clearly all this success and product mix has caused companies to express interest in our business. Our management team is invested in InterCloud and recently two board members added to their holdings by purchasing $200,000.00 worth of common stock as filed in form 4’s. This is a statement of our confidence in our platform and our future.”

About InterCloud Systems, Inc.

InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud's cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management 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.

Forward-looking statements:

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.