IFCI Thursday March 23, 7:29 am Eastern Time
Company Press Release
International FiberCom Awarded in Excess of $25 Million in Contracts
PHOENIX--(BUSINESS WIRE)--March 23, 2000--International FiberCom Inc. (Nasdaq:IFCI - news) Thursday announced that its Infrastructure Development and Services Group has received more than $25 million in new and additional contracts from customers including Level 3 Communications, AT&T Local Services and Cox Communications, as well as from other leading telecommunications providers.
According to IFCI Chairman & CEO Joseph P. Kealy, these contracts are in addition to the network design engineering and installation services contracts the company announced in February. Services to be provided include the network design engineering and installation of metropolitan and long haul fiber networks for broadband applications. Work on each contract is estimated to be performed over an 18-month period.
International FiberCom is a leading end-to-end solutions provider for the telecommunications industry, offering a broad range of engineering-based solutions designed to enable and enhance voice, data and video communications through fixed and wireless networks. The company designs, deploys and manages internal and external networks infrastructure for leading wireline, wireless and broadband telecommunications providers in the United States.
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-K for the year ended Dec. 31, 1999 filed with the Securities and Exchange Commission.
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