One more!
Tuesday September 26, 3:52 pm Eastern Time
Press Release
SOURCE: Illinois Superconductor Corp.
Telefonica Startel of Chile places Initial 15-unit Order for Illinois Superconductor's Tower Top HTS Filter
MT. PROSPECT, Ill., Sept. 26 /PRNewswire/ -- Illinois Superconductor Corporation (OTC Bulletin Board: ISCO - news), a supplier of high-temperature superconducting (HTS) systems to the wireless industry, announced today that it has received an initial order for fifteen tower-top HTS receiver front-end systems from Telefonica Startel, the leading wireless telecommunications operating company in Chile. This order was placed through Illinois Superconductor's (ISC) distributor, Iberica de Control y Telefonica, S.A. (ICT), for delivery in the fourth quarter of this year. The order comes after conducting multi-site field trials of ISC's SupeRx(TM) tower-mounted HTS system in and around Santiago, Chile to validate the performance of the SupeRx in their cellular network.
Marcelo Sanchez Valencia, Gerente General of ICT Chile stated, ``The solid performance of the SupeRx in the Cordoba, Spain GSM trials and the multi-site field trials in Chile provided the basis for Telefonica Startel to place an order for an initial HTS network deployment. ICT will continue to expand opportunities for ISC's product line with Telefonica Startel. In addition, this will also enable ICT to further promote the SupeRx with Telefonica's other Latin American affiliates in Argentina, Brazil and Peru.''
Shawn Doyle, EVP Commercial Development of ISC commented, ``This initial order from Telefonica Startel clearly indicates the emerging network application of HTS in wireless networks. ICT has worked with Telefonica in Spain and its Chilean affiliate, Telefonica Startel through an extended testing period to validate HTS filtering and have demonstrated its performance across multiple wireless technology formats. ISC products combined with ICT's established market presence in Spain and Latin America provide us access to the wireless operators in these key markets. We look forward to continued success with ICT in promoting the network application of HTS products.''
``We are starting to see signs that the market for superconducting systems is changing in an important way,'' said Dr. George Calhoun, CEO of ISC. ``HTS used to be seen by the operators as a site-specific solution for site-specific problems, but the Chilean order is another indication that operators are beginning to view HTS as a network-wide solution for coverage and capacity. I'd also like to note that we did not issue warrants or other such incentives in order to conclude this sale. This, too, indicates a growing maturity of the HTS market.''
Iberica de Control y Telefonica, S.A. (ICT), is a division of the Iberica Group that was founded in 1963 in Madrid, Spain. Serving as the commercial arm of the Iberica Group, ICT develops, manufactures, markets and distributes telecommunications equipment to Telefonica and its foreign affiliates in Spain and Latin America. For additional information on the Iberica Group, please visit their web site at www.interisa.es .
ISC offers its products in a range of configurations, supporting all cellular and PCS bands, with and without notch filters, and with or without cryogenic low-noise amplifiers. Its products include base-mount (indoor) systems and the world's only tower-top HTS systems. ISC sells the smallest HTS filter systems on the market today, as well as the only failure-proof all-temperature HTS filter architecture, our patented ATP(TM) system. ISC has sold more than 300 systems to operators in the U.S., with continuing field trials indicating future deployment. In addition, ISC is developing ultra-high-performance superconducting front-end products, including both transmitter and receiver products. The emerging third generation of 3G wireless systems is expected to replace current wireless systems in the next several years.
ISC is a leader in the commercialization of high temperature superconducting technology for the wireless telecommunications industry. The Company develops, manufactures and markets radio frequency (RF) products to enhance the quality and capacity of cellular telephone, personal communications services and other wireless telecommunications services. More information about ISC is available on the Company's internet web site at ilsc.com .
Statements contained in this news release that are not historical facts are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect the Company's current expectations regarding the future results of operations, performance and achievements of the Company. The Company has tried, wherever possible, to identify these forward-looking statements by using words such as ``anticipates,'' ``believes,'' ``estimates,'' ``expects,'' ``plans,'' ``intends,'' and similar expressions. These statements reflect the Company's current beliefs and are based on information currently available to it. Accordingly, these statements are subject to certain risks, uncertainties, and contingencies, which could cause the Company's actual results, performance or achievements for 2000 and beyond to differ materially from those expressed in, or implied by, such statements. These important factors include, without limitation, the ability to integrate SSI's and ISC's businesses; the Company's history of net losses and the lack of assurance that the Company's earnings will be sufficient to cover fixed charges in the future; the degree to which the Company is leveraged and restrictions imposed on the Company under its existing debt instruments which may adversely affect the Company's ability to finance its future operations; uncertainty about the Company's ability to compete effectively against better capitalized competitors and to withstand downturns in its business or the economy generally; the adverse effects on liquidity of the Company's common stock because of its de-listing from the NASDAQ National Market in June 1999; continued downward pressure on the prices charged for the Company's products due to the competition of rival manufacturers of front-end systems for the wireless telecommunications market; the timing and receipt of customer orders; the Company's ability to attract and retain key personnel; and the effects of legal proceedings. A more complete description of these risks, uncertainties and assumptions is included in the Company's filings with the Securities and Exchange Commission, including those described under the heading ``Risk Factors'' in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 1999. The Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties.
SOURCE: Illinois Superconductor Corp. |
