Fortress International Group Awarded $29.1 Million in New Business During Second Quarter 2011

Fortress International Group

today announced that, during the second quarter of 2011, the Company was awarded new contracts totaling $29.1 million. This total included $9.4 million in new, recurring revenue contracts and service upgrade projects from the Company's Facilities Management group, representing a 50% increase over bookings in the first quarter of 2011. Additionally, the Company booked Construction Management contracts totaling approximately $18.6 million during the second quarter of 2011, compared with $2.2 million during the first quarter. "We achieved strong bookings across all three areas of our business during the second quarter, which has the Company well positioned as we head into the second half of the year. We are particularly pleased with the continued growth of our Facilities Management business, as these recurring revenue customers provide us with stable, predictable revenue and help drive gross margin expansion," said Thomas P. Rosato, CEO of Fortress. "We continue to grow our F/M business through a combination of new project awards along with extensions and expansions of current work with existing customers. Technology industry leaders continue to recognize the diverse capabilities and added value Fortress brings to the Facilities Management arena. We have made great progress in the development of our F/M business and this remains a key area of focus for the Company as we move forward."