OVERLAND PARK, Kan., May 12, 2015 (GLOBE NEWSWIRE) -- Cartesian™ (Nasdaq:CRTN), a specialist provider of consulting services and managed solutions to the global communications, technology and digital media industries, today announced that it has been awarded an expansion of its 2014 three-year services agreement with an international Tier 1 communications operator, increasing the potential contract revenue by nearly 2.4 times the original value.
Cartesian is helping the Tier 1 operator deliver a number of major transformation programs as the operator expands its investment in the communications infrastructure of one of its major national markets. Based on projected program requirements and including the minimum contract commitment, total contract revenue is forecasted to run up to approximately $34 million, with approximately $28 million coming in 2015 and 2016.
The operator has a long-standing partnership with Cartesian, built on collaboration on a number of previous technology-based initiatives aimed at improving service delivery to the operator's customer base.
Don Klumb, Cartesian's CEO, said, "We are thrilled to grow our role in delivering exciting technology and transformation programs that advance and expand services for our client's customers. This contract builds upon a strong established partnership, and we look forward to continuing to support their key strategic initiatives."
About Cartesian, Inc.
Cartesian, Inc. (Nasdaq:CRTN) is a specialist provider of consulting services and managed solutions to leaders in the global communications, technology and digital media industries. Cartesian provides consulting in strategy, execution and managed solutions to clients worldwide. The company has offices in Boston, Kansas City, London, New York and Washington.
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Cautionary Statement Regarding Forward Looking Information
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, any statements that do not relate to historical or current facts constitute forward-looking statements, including any statements contained herein regarding expectations with respect to the Company's future business, financial condition and results of operations. Forward-looking statements are subject to known and unknown risks, uncertainties, and contingencies, many of which are beyond the Company's control, which may cause actual results, performance, or achievements to differ materially from those projected or implied in such forward-looking statements. Factors that might affect actual results, performance, or achievements include the risks described in its periodic reports filed with the SEC, including, but not limited to, "Cautionary Statement Regarding Forward Looking Information" under Part I of its Annual Report on Form 10-K for the fiscal year ended January 3, 2015 and subsequent periodic reports containing updated disclosures of such risks. These filings are available at the SEC's web site at www.sec.gov. Any forward-looking statements made in this release speak only as of the date of this release. Cartesian does not intend to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances.