
Fortress International Group Books $4.1 Million in New Facilities Management Projects Since July 1st 2010
Annual Guaranteed Contract Revenue from Facilities Management Approaching $10 Million
COLUMBIA, Md., Sept. 15 /PRNewswire/ -- Fortress International Group (Pink Sheets: FIGI) a provider of consulting and engineering, construction management and 24/7/365 site services for mission-critical facilities, today announced that it has booked approximately $4.1 million in recurring revenue facilities management work during July and August 2010. These bookings include both new contracts and follow-on orders from existing customers for moves, adds and upgrades to existing facilities.
The new business Fortress has won includes two annual recurring service contracts to commission and maintain containerized data center modules, an electrical upgrade to an existing data center, commissioning, service and installation projects as well as HVAC, electrical and telecommunication system service and upgrades.
"We remain focused on growing our recurring revenue service business in an effort to drive both increased visibility and margin expansion. This work is less dependent on capital budgets than construction management and technology consulting projects, and it provides an increasingly predictable revenue stream for our business," said Thomas P. Rosato, Fortress' CEO. "We are pleased that government agencies such as the Department of Justice and National Institutes of Health, as well as leading private sector companies such as Dell, Capgemini, Lockheed Martin and Baxter Bio Sciences continue to recognize the expertise and professionalism for which Fortress is known."
Mr. Rosato added, "We have a robust pipeline of potential recurring revenue business from our Facilities Management Division. This expected growth, along with the larger capital projects work of our Construction Management Division, are expected to support Fortress' continued growth going forward. Our goal is to generate at least 50 percent of our gross profit from the FM business, and we are confident that this goal can be achieved."
About Fortress International Group, Inc.
Fortress International Group, Inc. is leading mission-critical facilities into a new era of maximum uptime and efficiency. Fortress provides consulting and engineering, construction management and 24/7/365 site services for the world's most technology dependent organizations. Serving as a trusted advisor, Fortress delivers the strategic guidance and pre-planning that makes every stage of the critical facility lifecycle more efficient. For those who own, lease or manage mission-critical facilities, Fortress provides innovative end-to-end capital management, energy, IT strategy, procurement, design, construction, implementation and operations solutions that optimize performance and reduce cost.
Fortress International Group, Inc. is headquartered in Maryland, with offices throughout the U.S. For more information, visit: www.FortressInternationalGroup.com or call 888-321-4877.
Fortress International Group, Inc. -- setting a new standard for the optimized critical facility.
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SOURCE Fortress International Group, Inc.
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