NEW YORK, Nov. 19, 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 $2.3 million in new contracts.
Mark Munro, CEO of InterCloud Systems stated: "Our Company continues to grow in disproportion to our stock price and market cap. InterCloud has reached so many positive milestones thus far in 2015 and below are just a few of the most important for shareholders to review” ;
Revenue is up 23% to $65 Million through Q-3 2015
Gross Profit percentage has risen to 33% and is up to $21 Million through Q-3 2015
New contracts announced since July 1, 2015 totals over $36.5 Million
Adjusted EBITDA of $1.9 Million through 9 months of 2015 versus a loss of $(3.1M) for 2014
Mr. Munro continues: “Our sales pipeline of new opportunities has been steady in the $140 Million range for almost a year now and gives us the foresight that our growth should continue into 2016. InterCloud has double digit revenue growth in 2015, gross profit margin increases to 33%, adjusted EBITDA growth of over $5 Million since 2014, brand name fortune 100 customers, and operating divisions performing at their highest levels. InterCloud has paid down and extinguished approximately $3.4 Million of senior debt in 2015 and today only has $4.2 Million of senior debt against approximately $18 Million in accounts receivable. Our team has done an extraordinary job in lowering operational expenses through operational synergies and technology integration savings. The Company is a far better business today than it was a year ago and we believe we have created an extremely valuable next-gen IT solutions company with highly valuable services and assets. Our management team continues to execute at the highest levels and has launched new products and solutions to deliver additional future value for our shareholders. We thank you for your support and look forward to finishing strong in Q-4 2015 and on into 2016.
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.