CHICAGO, June 8 /PRNewswire-FirstCall/ -- Global Capacity (parent: Capital Growth Systems, Inc. (OTC Bulletin Board: CGSY)), the world's leading telecommunications information and logistics company, today announced that it has executed 102 contracts totaling greater than $5.2 million total contract value between January 1, 2010 and May 31, 2010. 68% of the new contracts are recurring contracts representing over $4.3 million of total revenue, with revenue being recognized monthly as services are rendered over terms ranging up to 36 months. 32% of the contracts are non-recurring in nature, and represent over $880,000 in one time revenues.
These new contracts encompass a wide variety of vertical industries, ranging from cable operators and internet service providers to government, financial services, health care and utility operators. The number and value of new contracts in 2010 demonstrate the continuity that Global Capacity has with its customers as well as sustained progress and growth as an organization. Global Capacity leverages a unique collection of global telecom supply and pricing data to enable clients to reduce costs, improve efficiency, and simplify operation of their access networks globally. The company offers its products and services through two lines of business: Network Solutions and Software & Optimization Solutions.
"The partnerships Global Capacity has with its customers are strategic and mutually beneficial," said Patrick Shutt, Global Capacity CEO. "The core value that customers derive from our products and services is demonstrated through the continuing growth of new contracts with customers across vertical markets and geographies."
For more information on Global Capacity and our service offerings, please visit www.globalcapacity.com.
About Global Capacity
Global Capacity (parent: Capital Growth Systems, Inc.) is a telecom information and logistics company that leverages a unique collection of global telecom supply and pricing data to enable transparency and automation in the global access network market. The Company provides Software & Optimization Solutions and Network Solutions that enable increased efficiency and reduced cost of access networks for integrators, telecommunications companies, and enterprise customers. Global Capacity is headquartered in Chicago, IL, with offices and operational centers in the United States and European Union. For more information, please visit www.globalcapacity.com or contact the Company at 312-673-2400.
Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements.
Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends, and uncertainties such as: the Company's inability to accurately forecast its operating results; uncertainty as to the volume of business or level of profitability of network optimization contracts; the Company's potential ability to achieve profitability or generate positive cash flow; the availability of financing; the risks associated with procuring a listing of its securities on one or more public stock markets; and other risks associated with the Company's business. For further information on factors which could impact the Company and its subsidiaries and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission, including annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
SOURCE Global Capacity