Sergio, IFCI looks very good in my opinion. It looks like it is completely
turning around and looks very attractive at these levels. Here is copy of quarterly
earnings report:
PHOENIX--(BUSINESS WIRE)--April 30, 1997--International FiberCom Inc. (NASDAQ:IFCI) and its Chairman and Chief Executive Officer Joseph P. Kealy, Wednesday announced record operating results for the first quarter ended March 31, 1997.
The company reported a record profit of $384,843 or 6 cents per share, on record revenues of $6,518,135 for the first quarter compared to a profit of $66,992, or 2 cents per share on revenues of $3,425,867 for the same period in 1996. The 90 percent increase in revenues and 250 percent increase in profits for the quarter was attributed to a strengthening in the company's core business as well as the acquisition of Concepts In Communications in the first quarter of 1997.
Concepts In Communications, based in Nashville, was formed in 1983 and has become a dominant player in the southeastern United States providing telecommunications systems integration services. Concepts recorded revenues in excess of $14 million in 1996 and has recorded operating profits for 13 consecutive years. Concepts maintains value added reseller and/or partner agreements with Lucent Technologies, 3Com, Bay Networks, Novell, WIN Communications, Bell South, Compaq, Dell Computers and Hewlett-Packard.
During the first quarter, the company announced a record amount of new contracts totaling more that $12 million, including an $8 million award for fiber optic upgrade projects with Cox Communications as part of Cox's expansion and upgrading of its cable television system in Phoenix with fiber-optic cable. Other contracts were announced during the quarter with US West, Lucent Technologies, Columbia/HCA Healthcare, Ingram Micro and the Salt River Project.
Commenting on the record performance, Kealy stated, "The first quarter results, which were slightly above our expectations, are a reflection of the impressive turnaround in our core fiber-optic engineering and installation subsidiary, Kleven Construction, as well as the contribution from our newly-acquired Concepts subsidiary.
"The results are even more encouraging given the seasonal nature of our business, as our first quarter is usually the year's slowest. Moreover, we believe further development of the expected synergies between the Kleven and Concepts subsidiaries will begin to make a greater impact as the year progresses. The balance of 1997 and beyond looks more promising for the company than at any time in our history.
"Contract activity remains very lively, and we expect to be announcing additional contract awards in the near future. As previously stated, we anticipate 1997 revenues to exceed $32 million and to be profitable."
This press release contains forward-looking statements which are based largely on the company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the company's control. Actual results could differ materially from these forward-looking statements as a result of such risks. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained herein will in fact transpire or prove to be accurate.
International FiberCom Inc. specializes in the design, installation and maintenance of fiber-optic and other cable services for the telecommunications and cable industries. Its newly-acquired wholly-owned subsidiary, Concepts In Communications, provides systems integration services including design, engineering, installation and maintenance of structured cable systems, network hardware and software, workstation peripherals and intercommunications systems.
CONTACT:
International FiberCom Inc., Phoenix
Joseph P. Kealy, 602/941-1900
or
Liviakis Financial Communications Inc.
Robert Prag, 916/448-6084
KEYWORD: ARIZONA TENNESSEE
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
ELECOMMUNICATIONS EARNINGS
BW0154 APR 30,1997
|
