Good fundies on this company as well. The point you've been making about PE/G is right on. 2 seems a good #.
Qloudy future.
International FiberCom Awarded In Excess of $16 Million in Contracts; More Than $113 Million in New Infrastructure Development and Services Group Contracts Since January 2000
Business Wire - May 25, 2000 07:45
PHOENIX--(BUSINESS WIRE)--May 25, 2000--International FiberCom, Inc. (Nasdaq NM: IFCI) Thursday announced that its Infrastructure Development and Services Group has been awarded more than $16 million in new contracts from new customers and such existing clients as AT&T Broadband, AT&T Local Services, Cox Communications, Time Warner Telecom, and Adelphia, as well as engineering projects in New Zealand.
According to the announcement by International FiberCom Chairman and CEO Joseph P. Kealy, these contracts are in addition to the more than $97 million in network design engineering and installation services contracts the company has announced since January 2000, bringing the total this year to more than $113 million.
Services to be provided under these newly announced contracts include the network design, engineering and installation of metropolitan fiber networks for broadband distribution and in-premise telecommunications network development for commercial applications. It is estimated that work will be performed over an 18-month period.
Kealy commented: "We continue to receive new contracts at record levels, as the market for broadband services continues to outpace the infrastructure builds currently in process. Additionally, the expansion of our agile engineering services into New Zealand is an excellent example of our ability to provide these services anywhere in the world.
"We look forward to continuing to expand the reach of the company as the rapidly increasing demand for bandwidth and the networks to carry such traffic moves throughout the United States and abroad."
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.
CONTACT: Allen & Caron Inc.
Rene Caron (investors), 949/474-4300
E-mail: rene@allencaron.com
or
Seth Feller (media), 949/474-4300
E-mail: seth |
