InterCloud said the new service agreements relate to WiFi and DAS networks for existing and new clients. The company expects to complete the contract work in the second and third quarters of 2015.
"Our sales and engineering teams continue to win new business from our pipeline at a faster pace than in 2014," InterCloud CEO Mark Munro said in a statement. "These new contracts confirm that InterCloud's distinctive suite of services have a competitive advantage within the enterprise and service provider markets and that our sales and engineering teams are executing more efficiently."
About 2.1 million shares of InterCloud were traded by 11:31 a.m. Wednesday, compared to the company's average trading volume of about 2.6 million shares a day.
TheStreet Ratings team rates INTERCLOUD SYSTEMS INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTERCLOUD SYSTEMS INC (ICLD) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."