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Tuesday February 15, 7:33 am Eastern Time
Company Press Release
International FiberCom Awarded in Excess of $24.5
Million in Contracts
PHOENIX--(BUSINESS WIRE)--Feb. 15, 2000--International FiberCom Inc. (Nasdaq:IFCI - news) Tuesday announced
that its Infrastructure Development Group has received more than $24.5 million in new and additional contracts from customers
including Adelphia Communications, AT&T Local Services, Level 3, Next Link Communications, Cox Communications and
U.S. West, as well as from other leading telecommunications providers.
According to IFCI Chairman & CEO Joseph P. Kealy, services to be provided include the engineering and installation of
metropolitan fiber network segments and development of long haul fiber networks for Internet backbone. Engineering services
for all of the contracts have begun. These awards are in addition to the more than $52 million in awards from PF.Net
announced over the past two months.
Kealy commented, ``These contract awards represent extensions of our relationships with many existing customers, as well as
first-time opportunities with new ones.
``As the telecommunications industry moves from circuit-switched to packet-switched communications,' Kealy continued, ``we
have seen the consumer demand for bandwidth increase exponentially. We have grown our Infrastructure Development Group
through internal growth and strategic acquisitions to meet this demand. We look forward to continuing to provide additional
services to our expanding customer base as demand for bandwidth continues to climb.'
The IFCI Infrastructure Development Group is a leading provider of a wide range of engineering, installation and maintenance
services for Internet backbone, long haul transport, fiber-rich broadband networks, DSL installation, local and wide area
networks, as well as specialized wireless services. These services, along with its Equipment Group, which provides and installs
transport switching equipment, routers and gateways, make IFCI an ``end-to-end solutions provider' for the
telecommunications industry.
International FiberCom is a leading provider of a wide range of engineering, development and maintenance services for fiber
optic, broadband networks, public telephone networks, local and wide area networks and specialized wireless applications.
With a number of recent strategic acquisitions that complement and enhance existing services and products, International
FiberCom has positioned itself as a ``one-stop shop' for the telecom and cable TV industries.
This news release contains certain forward-looking statements and information within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, by their very
nature, include risks and uncertainties. Accordingly, the company's actual results could differ materially from those discussed in
this release. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues,
profitability, cash flows and capital needs. Such factors, many of which are beyond the control of the company, include the
following: the company's success in obtaining new contracts; the volume and type of work orders that are received under such
contracts; the accuracy of the cost estimates for projects; the company's ability to complete its projects on time and within
budget; levels of, and ability to collect accounts receivable; availability of trained personnel and utilization of the company's
capacity to complete work; the company's ability to complete proposed acquisitions and, upon their completion, to integrate
the acquisitions into its organization and manage its growth; competition and competitive pressures on pricing; and economic
conditions in the United States and in the regions served by the company. A more complete listing of cautionary statements and
risk factors is contained in the company's report on Form 10-KSB for the year ended Dec. 31, 1998 filed with the Securities
and Exchange Commission.
Contact:
Allen & Caron Inc.
Damon Wright (investors)
damon@allencaron.com
or
Cathy Allen (media)
cathy@allencaron.com
949/474-4300
More Quotes and News:
International FiberCom, Inc (NasdaqNM:IFCI - news)
Related News Categories: computers, construction, networking, telecom |
