Business
NTG Clarity Announces Work Valued at $8.5M CAD
(TheNewswire) Toronto, ON – TheNewswire - August 6, 2024 - NTG Clarity Netwo...
About this update from Ntg Clarity Networks Inc.
[{"type":"text","content":"NTG Clarity Announces Work Valued at $8.5M CAD\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 –\n \n\n TheNewswire -\n \n\n August 6, 2024 - NTG Clarity Networks Inc.\n(TSX.V:NCI, OTC: NYWKF) -\n \n\n NTG Clarity is excited\nto follow up its strong second quarter results by announcing that it\nhas received new orders for a total of $8.5M CAD in new work and\nrenewals from new and existing customers in the Financial, Government,\nIT, and Telecom sectors.\n \n\n\n\n Especially noteworthy in these orders is a three-year\nproject to provide resources to a large system integrator. As the\ntrend of rapid digital transformation continues across the Middle\nEast, NTG is continuing to win work from others in the IT space who\nrecognize our ability to mobilize large team\n \n\n\n\n s of experienced professionals\nquickly and at a competitive price. The breakdown of the work is as\nfollows, with all customers in the Middle East:\n \n\n\n\n\n\n $7.5M for new work on a three-year project to provide\nonsite resources to a new customer, a large system integrator (the\ngrowth margin for this project is estimated to be 41%):\n \n\n\n\n\n\n We have received the PO for the first year for $2.27M,\nand we will receive two other POs in one year and two years from\nnow\n \n\n\n\n\n\n\n\n $690K across multiple POs to provide onsite and\noffshore resources for existing customers in the Government and\nFinancial sectors\n \n\n\n\n\n\n $370K to provide customization of our NTGapps platform\nfor an existing customer in the Telecom sector\n \n\n\n\n\n\n “It’s very exciting that another large system\nintegrator is awarding a large three-year project to NTG,” said Adam\nZaghloul, Vice President, Strategy & Planning of NTG Clarity.\n“\n \n\n\n\n With this\n$7.5M multi-year project, NTG is expanding its major customers base\nand taking advantage of the rapid growth in the IT sector in the\nMiddle East.”\n \n\n\n\n With the announcement of our second quarter results\nlast week, this exciting news, as well as consideration of other\ncontracts in their final stages of negotiations, we are reviewing our\ntargets and guidance for the year and expect to be able to release\nupdates in the near future.\n \n\n\n\n About NTG Clarity Networks\nInc.\n \n\n\n\n NTG Clarity Networ...