InterCloud Systems, Inc. (OTC Pink: ICLD) is engaged as a cloud computing and automation services & solutions provider. Shares of the cloud networking provider skyrocketed nearly 273% during trading on Tuesday, May 22, 2018. Over the past month, InterCloud Systems, Inc. has seen average daily volume of 297,046 shares. However, volume of 10.17 million shares or dollar volume of $2.74 million, exchanged hands during Tuesday’s trading.
Shares of InterCloud Systems, Inc. soared on Tuesday, after the company announced a very successful and profitable first quarter 2018. The company announced that its net income for the first three months of the year came in around $5.2 million, as the company continues to secure key purchase orders and reduce expenses. Here is the full press release detailing of the earnings beat:
InterCloud Systems, Inc. Press Release:
Shrewsbury, NJ, May 22, 2018 (GLOBE NEWSWIRE) — InterCloud Systems, Inc. (the “Company” or “InterCloud”) (OTC:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, announces $5.2 Million in net income for the first quarter of 2018.
Mark Munro, CEO of InterCloud stated: “We continue to secure new purchase orders and scale back on expenses. We achieved our goal of profitability in the first quarter. We are focused on driving profitable next – gen Wi-Fi and DAS business as well as adding customers to our SDN Wan and SDN Orchestration platforms throughout the year.”
About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud’s website at www.intercloudsys.com.
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.