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NTG Announces POs Valued at Approximately $3.94 Million CAD
Toronto, ON / TNW-Accesswire / March 9, 2023 / NTG Clarity Networks Inc. (TSX.V:NCI);NTG Clarity is pleased to announce that it has received multiple purchase orders (POs) and 1 resource Agreement contract. The POs are from existing customers for renewal of services. The resource Agreement is for new resources for a new customer in the Middle East.
The breakdown is approximately as follows (based on conversions to CAD):
- A 1-year renewable agreement with an estimated value of $2.35M. NTG will provide technical resources to this new customer in the real estate finance sector in the Middle East. The estimated cost of delivery is $1.6M.
The following business as usual renewals over the last few months:
- A 1-year PO renewal for $1.066M to provide a technical resource to an existing customer in the finance sector in the Middle East.
- A 1-year PO extension for $222K for technical resources for an existing telecommunications customer in the Middle East.
- A 1-year extension for $194K for professional services for an existing telecommunications customer in Canada.
- A PO for $101K to continue product support/upgrade for an NTG product in a telecommunications customer in the Middle East.
- A 1-year extension for $7K for a product implementation for an existing telecommunications customer in the Middle East.
The value of these POs/Agreements, added to the estimated $20.95M CAD of POs on hand at the end of December 2022, brings our backlog to almost $24.89M CAD in unbilled amounts.
"We are excited to continue 2023 with a strong position and we are confident that our strong existing customer base and the addition of a new customer in the financial sector will solidify us as a key provider in this substantial market,” explained Kristine Lewis, President of NTG Clarity. “As always, we remain committed to providing quality services and innovative solutions that enable our customers to meet their objectives."
About NTG Clarity Networks Inc.
NTG Clarity Networks’ vision is to be a global leader in providing networking solutions. As a Canadian company established in 1992, NTG Clarity has delivered networking, IT and network enabled application software solutions to network service providers and large enterprises. More than 500 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry’s leading enterprises.
Forward Looking Information
Certain statements in this release, other than statements of historical fact, are forward looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature.
These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward looking statements should circumstances or management's estimates or opinions change.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For Further Information:
Kristine Lewis, President, NTG Clarity Networks Inc.