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Technology Stocks : Able Telecom (ABTE)
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To: CMon who wrote (646)4/7/1999 9:50:00 AM
From: Sir Auric Goldfinger  Read Replies (1) of 700
 
Entrails:"Able Telcom's N.J. E-ZPass Contract Behind Schedule, Paper Says Newark, New Jersey, April 6 (Bloomberg) -- Able Telcom
Holding Corp.'s MFS Network Technologies didn't meet an important
construction deadline last week, prompting New Jersey-area
transportation experts to doubt that the contract to implement
the E-ZPass automatic toll-collection system on the New Jersey
Turnpike can be completed, the New York Post said. A
subcontractor accused the company of nonpayment and failure to
deliver important components; Able has said the accusations
aren't true. The deadline for the entire system to be operating
on the turnpike and other New Jersey toll roads is early 2000 and
the delay will push this deadline back by about a year, the New
York Post said.
Last month, Able said revenue for the quarter ended Jan. 31
totaled $92 million, up from $22 million for the year-earlier
period."

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