Fte Networks, Inc. (NYSE:FTNW)

WEB NEWS

Thursday, August 30, 2018

Research

Fte Networks, Inc.  (NYSE:FTNW)  ($12.72, $95.4M market cap)  - Insiders from this telecommunications, technology systems, and infrastructure services company have filed Form 4’s showing they have added shares at open market prices.  The stock has been weak after posting its Q2 2018  results  in mid-August.  Two Form 4’s filed yesterday show that the  CEO  and  CFO  each purchased shares (5,500 and 2,000, respectively) during yesterday's trading session.


Wednesday, August 1, 2018

Research

FTW Networks (NYSE AMEX:FTNW) ($15.85, $102.87M market cap), a provider of international/regional telecommunications and technology systems and infrastructure services, announced that its infrastructure segment has been awarded approximately $61.4 million in new projects in July of 2018, bringing the Company’s year-to-date total to approximately $301.9 million.

Michael Palleschi, President and CEO of FTE Networks, stated, “This has been a significant month for us. The award contracts include a large project with a global workspace provider that services prominent companies with advanced needs such as Spotify, Microsoft, and Dell.  These awards highlight our business momentum and underscore the continued demand for our infrastructure and technology segments, which, in turn, supports our 2018 revenue and profit optimization objectives.”


Tuesday, July 10, 2018

Research

FTW Networks (NYSE AMEX:FTNW) ($17.79, $111.7M market cap), a provider of international/regional telecommunications/technology systems and infrastructure services, announced it was awarded new contracts of $42.7 million in June, bringing the company’s year to date total to approximately $240.5 million.

Quotes from management:

“June was an excellent month in terms of new contract wins, bringing our second quarter to a successful close.  We have increased confidence in our goals and are on target for meeting our 2018 stated objectives. We continue to enjoy a healthy backlog and believe that these new awards highlight the strength in our brand,” said Michael Palleschi, President and CEO of FTE Network.”


Wednesday, June 20, 2018

Research

FTW Networks (NYSE AMEX:FTNW) ($20.53, $128.9 M market cap), a provider of international/regional telecommunications/technology systems and infrastructure services, announced that the Company’s Infrastructure Segment has been awarded a contract expanding its Inside Plant line of business footprint in five markets.  

"This contract is significant because it represents an increase in the scope and size of work performed for this customer,” said Mr. Anthony Sirotka, Chief Administrative Officer and Head of FTE's Infrastructure Segment. "We are excited to again be rewarded for our excellent service with some of the largest telecommunications carriers in the industry.”

"We are pleased to announce this new multi-year, multi-million dollar expansion with our globally recognized strategic partner and further strengthen our presence in the markets we serve,” said Mr. Michael Palleschi, Chairman and Chief Executive Officer of FTE.  “Our ISP business is high-margin in nature and the relationships we build and maintain with these customers will serve to facilitate the growth of all segments of our business.”


Tuesday, February 27, 2018

Research

FTE Networks, Inc. (NYSE:FTNW) ($23.85; $133.6M market cap), a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and buildings, announced it was selected by New York’s Industry City to provide, build and manage an ultra-fast, fiber optic network that delivers the most advanced and carrier-neutral secure internet connectivity across its 35-acre campus on the Brooklyn, New York, waterfront.  The terms for this contract were not disclosed.


Thursday, February 15, 2018

Research

FTE Networks, Inc. (NYSE:FTNW) ($18.34; $102.6M market cap ,a leading provider of innovative technology-oriented solutions for smart platforms, network infrastructure and buildings, announced it has been awarded a new contract valued at $36 million.

“Our team continues to meet and exceed the expectations of our valued customers.  Being awarded the contract by a marquee firm strengthens our ability to secure additional engagements with notable global companies located in one of the foremost markets. This award furthers our mission to transform tenant experiences and address increasing tenant demands for advanced technology solutions and high-speed internet. FTE is well positioned to meet the new design and future-ready requirements for smart building infrastructure.  We continue to bolster our backlog, and these new contract awards are a testament to the hard work and dedication of the employees of FTE and its subsidiaries.”

On January 12, 2018 we stated we established a small long position (at ~$15.80) in FTNW as shares looked extremely cheap on a P/E basis. In the coming days, Maj will have a research (podcast) update from our recent interview with management.


Wednesday, January 10, 2018

Shareholder Letters

Dear Fellow Shareholders,

Happy New Year! Today I have the honor of ringing the historic New York Stock Exchange (“NYSE”) opening bell. To mark this occasion, I wanted to take the time to update our valued shareholders on recent activities and plans for the future.  Since our last shareholder update in October 2017, we have achieved several important milestones, making 2017 one of the most transformative years in the history of our Company. With FTE’s recent launch of our transformative technology powered by CrossLayer and the successful integration of Benchmark Builders into our previously existing FTE business, we believe our business model provides us a competitive edge in the technology and infrastructure market and will play a key role in driving our growth in 2018 and beyond.

A Unique Business Model

FTE is a technology company that is leveraging its market presence in the network infrastructure and general contracting verticals as sales and operations channels for its innovative edge computing technology. In addition to enabling adaptive and efficient smart network connectivity platforms, infrastructure, and buildings, FTE provides end-to-end design, build, and support solutions for state-of-the-art networks, data centers, and residential and commercial properties.

Our business is now comprised of three complementary businesses whose combined operating benefits provide cutting-edge technology solutions to our client base that includes Fortune 100/500 companies, some of the world's leading Telecommunications and IT Services Providers as well as REITs and Media Providers, and, in turn, contributes to improved margins that ultimately impact our growth and profitability.

With technology guiding all that we do, we are confident in the path we are forging to offer unrivaled breadth and quality of solutions to our customers.

A Transformational 2017

We believe our advancements in 2017 established a strong foundation for our business to begin capitalizing on a multi-prong growth opportunity that lies before us.

We integrated Benchmark Builders, a premier general contractor, with a powerful industry brand and strong presence in the New York City metropolitan market.  We also launched CrossLayer, our Edge Computing solution that efficiently uses low-cost commodity servers that are scalable and upgradable through open source software, facilitate new capabilities that enable network, cloud, content and data to converge into a single network platform in an environment that evolves with technology.

We believe that our technology platform is central to fully realizing the cross-company synergies and rapidly penetrating our target markets. By leveraging our client base and our network infrastructure operation we will support this growing building network with integrated network services, cutting edge technology, and facility management services, from conception to completion – a disruptive solution.

As FTE continues to grow, we believe it is important to build a culture of execution and delivering on the Company’s stated corporate objectives. In our last shareholder update, we shared our plans relative to an uplisting to a national exchange. In our final pivotal moment in 2017, we had the distinction of completing our uplisting and to see our common stock begin trading on the NYSE American in December.

Uplisting to the NYSE American gives us a larger platform for us to communicate our progress to a broader audience and will enable us to expand and diversify our shareholder base. Combined with our recently announced engagement of KCSA Strategic Communications for Public and Investor Relations to support these communication goals, we believe we are now better positioned to attract a broader range of institutional investors.

Additionally, we continued to deliver on our operational goals and add to our growing backlog by our announcement of contract MSA awards with new and existing customers.  These awards not only served to expand and strengthen our footprint in existing markets, they helped open a few new markets as well. 

Looking Ahead to 2018 and Beyond

We expect 2018 to be another year of tremendous growth for FTE. Thanks to the successful integration of our complementary businesses, we are now able to focus on our dynamic growth strategy.

As we hope to have reinforced in this letter, we believe FTE has a clear roadmap to delivering sustainable growth. By leveraging our innovative technology as the foundation for our expansion initiatives, we hope to realize the full benefits of our three complementary businesses.

By performing many of our infrastructure projects internally, we believe we will be in a position to maximize profitability. Additionally, by marketing scalable and upgradable technology to our existing client base, we anticipate re-occurring revenues from clients with whom we expect to maintain long-term relationships, building trust and continuing to provide value through our technology solutions.

FTE plans to continue to invest in its technology solutions and to protect these technologies by building a robust patent estate around its key features. In addition, we believe we are well positioned to support the market penetration and sales efforts of our technology platform by making the required investments to expand the sales channels and feed the growth.

We are confident that FTE will continue to benefit from a strong market presence and customer recognition in New York City, and believe that it is well positioned to satisfy the market need, with access to more than 200 REITS and an impressive reoccurring Fortune 100/500 customer portfolio that have a national footprint.

All told, we are confident in our technology focused business model. We look forward to building shareholder value by expanding our client base, increasing profitability, and reaching a broader and more institutional shareholder base with our listing on the NYSE American.

Thank you for your continued commitment to FTE Networks. We look forward to sharing our continued progress with you in 2018 and beyond.

Sincerely,

Michael Palleschi
President and CEO