InterCloud Systems, Inc. (OTCMKTS:ICLD), a leading provider of cloud networking services, announced that it was recently awarded over $2.6 million in new contracts.
SHREWSBURY, N.J., Sept. 08, 2016 (GLOBE NEWSWIRE) — InterCloud Systems, Inc. (the “Company” or “InterCloud”) (ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today 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.”
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.
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.
The mathematical calculation that represents the degree of change over time is known as “percentage change”. In finance, it serves many purposes, and is often used to represent the price change of a commodity.
Percentage change can be applied to any quantity that is measured over time any given time period. Say you are tracking the price of a stock. If the price increased, the formula [(New Price – Old Price)/Old Price] is applied and then take that number and multiply it by 100. If the price of a stock decreased, the formula [(Old Price – New Price)/Old Price] is applied then multiplied by 100.
The formula can be used to track the prices of both individual commodities and large market listings, and also used to compare the values of different currencies. Balance sheets with comparative financial statements often will include prices of specific stocks at different time periods alongside the percentage change over the same periods of time. Over the past three months, InterCloud Systems, Inc. (OTCMKTS:ICLD) has seen 1344200 shares trade hands on average.
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InterCloud Systems, Inc. (OTCMKTS:ICLD) shares closed the most recent session at $0.105 moving from the previous open or $-0.015. This is compared to the stock’s 52-week high of 1.97 and 52-week low of 0.1.
Companies are ranked according to their market caps, falling into large-cap, mid-cap and small-cap categories.
Large-cap companies have a market cap north of $10 billion. These large companies have usually been in business for a long time, and are major participants in well-established sectors. Investors in large-cap companies don’t necessarily bank large returns in short time periods, though are rewarded with a constant increase in share value over the long run.
Mid-cap companies have a market cap of $2 billion – $10 billion. Mid-cap companies are usually established companies operating in an industry that is expected to experience quick growth. Mid-cap companies are usually in the middle of expansion. They carry higher risk than large-cap companies due to the fact that they are not as established, though their growth potential remains an attraction to investors.
Small-cap companies have a market cap of $300 million – $2 billion. These smaller companies are usually newer or perhaps service a niche market or a new industry. Generally considered to be a higher risk than mid or large-cap in part because of their age, their size and the markets they serve. Small-cap companies usually have fewer resources and are more sensitive to the ebb-and-flow of markets. InterCloud Systems, Inc. (OTCMKTS:ICLD)’s market cap currently sits at $3670000.
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