WPCS Int'l (WPCS) Updates on Backlog Through Sept. 2016

October 6, 2016 8:32 AM EDT

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WPCS International Incorporated (Nasdaq: WPCS) announced that its backlog increased to $17.5 million upon securing $3.0 million in new contracts during September.

Sebastian Giordano, CEO of WPCS, stated, "After closing the month of August with $3.8 million in new contracts, our largest new contract-signing month in nearly a year and a half, we are pleased to have secured another $3.0 million of bookings in September. Some of these contracts include:

  • $1.7 million for audio-visual ("AV") equipment installation in a new San Francisco hospital;
  • $780k in various work from key customer accounts; and,
  • $100k AV project for a brand new customer.

"I am extremely encouraged that the growth of our pipeline and backlog is accelerating primarily driven by our sales team, sales strategy and new service offerings being introduced to the marketplace. Additionally, given our much improved balance sheet and with operating and administrative costs well under control, we expect to see a positive impact on revenue and profits in the quarters ahead as these projects commence."

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