InterCloud Systems (ICLD) Receives $2.5M+ in New Contracts

September 8, 2016 8:07 AM EDT

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InterCloud Systems, Inc. (Nasdaq: ICLD) announced that it was recently awarded over $2.6 million in new contracts for professional services for new and existing customers. A majority of the work is expected to begin immediately.

Mark Munro, CEO of InterCloud Systems stated: "We announced last week that we have undertaken measures to reduce our operating expenditures, restructure our debt, and divest ourselves of non-core assets. Notwithstanding these cost cutting measures, we continue to drive revenue from legacy IT services as well as new cloud services. InterCloud continues to build revenue from a significant pipeline of potential new business. We are receiving new contracts from some of the world’s largest service providers and enterprise customers and providing solutions as they transition from legacy IT hardware to virtualized networking services."

Mr. Munro continued: "We believe that our cost cutting measures and continued debt reduction will enable the Company to achieve positive and sustainable net income in the near future."

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