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NTG Clarity Receives POs Valued at Approximately $2.656 Million CAD
Toronto, ON / TNW-Accesswire / October 25, 2022 / NTG Clarity Networks Inc. (TSX.V:NCI);NTG Clarity is pleased to announce that it has received multiple purchase orders (POs) with a total value of approximately $2.656M CAD. $1.148M of this is for the upgrade and support of our NTS OSS/BSS product installed in a Smart City in the Middle East. The balance is for new resources at existing customers.
The details are:
- A PO from an existing customer serving the public sector to upgrade and support our existing installation of NTS, our OSS/BSS software product. This one-year contract has an estimated value of $1.148M.
- A PO from an existing systems integrator customer to provide 5 new resources for 8 months with an estimated value of $577K.
- Multiple POs from a major bank in the Middle East to provide new resources with an estimated value of $931K. This is against the $3.5M, one-year renewable Framework Agreement announced January 11, 2022.
These POs speak to NTG’s commitment to fulfilling its agreement with the highest possible quality. While we continue to close new deals, a significant portion of our sales comes in the form of expanded business from satisfied customers. We have distinguished ourselves as providers of high-quality software products and professional resources; when it comes time to renew licenses and contracts our customers consistently and emphatically agree.
The value of these POs, added to the estimated $19M CAD of POs on hand discussed in our previous releases, brings our backlog close to $21M CAD since the end of Q2 2022. We also continue to negotiate the renewals of other contracts with other existing customers.
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.