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NTG Clarity Announces $4.5M in Contracts, Bringing Us Closer to $50M Target Revenue for 2024
(TheNewswire) Toronto, ON / T heNewswire / March 19, 2024 / NTG Clarity Networks In...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Announces $4.5M in Contracts, Bringing Us Closer to $50M Target Revenue for 2024\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, ON / T\n \n \n heNewswire\n \n \n / March 19, 2024 / NTG Clarity Networks\nInc. (TSX.V:NCI, OTC: NYWKF);\n \n \n NTG Clarity is\npleased to announce that it has signed two new contracts. These\ncontracts are for $4.5M CAD in new work and renewals for two different\ndepartments of the same existing customer in the Financial sector in\nthe Middle East.\n \n \n \n \n These contracts are to perform data platform and\ndigital factory work, and this is the third institution for whom we\nhave performed this type of work. Billable work is to begin\nimmediately for both contracts. The breakdown of t\n \n \n \n \n he work is as follows:\n \n \n \n \n \n \n $2.35M in contracts for new work:\n \n \n \n \n \n \n to provide onsite professional services for one year to\ndo digital factory work for an existing customer in the Financial\nSector in the Middle East\n \n \n \n \n \n \n $2.17M in contracts for renewal work:\n \n \n \n \n \n \n to provide onsite professional services for one year to\nperform data platform enhancements for an existing customer in the\nFinancial Sector in the Middle East\n \n \n \n \n NTG’s current work on hand (which includes unbilled\nPOs as of January 1, 2024, and new POs/contracts received and\npreviously announced since then) is approximately $44.5M, the majority\nof which is expected to be completed in 2024.\n \n \n \n \n “It’s exciting to see another institution decide to\nwork with us to build their digital factory,” said Adam Zaghloul,\nVice President – Strategy & Planning of NTG Clarity. “These\ncontracts solidify our path to reaching our ambitious revenue target\nof $50,000,000 for 2024.”\n \n \n \n \n About NTG Clarity Networks\nInc.\n \n \n \n \n NTG Clarity Networks’ vision is to be a global leader\nin digital transformation solutions. As a Canadian company established\nin 1992, NTG Clarity has delivered software, networking, and IT\nsolutions to large enterprises including financial institutions and\nnetwork service providers. More than 600 IT and network professionals\nprovide design, engineering, implementation, software develop...