*FBCE (Fav's) news just out: FiberCore Announces Record Backlog at Year-End
CHARLTON, Mass., Jan. 3 /PRNewswire/ -- FiberCore, Inc. (Nasdaq: FBCE - news), a leading manufacturer and global supplier of optical fiber and preform for the telecommunication and data communication markets, today reported record backlog of $190 million as of December 31, 2000. Reported backlog includes several recently announced ``take or pay'' contracts.
Dr. Mohd Aslami, President and CEO, said, ``The substantial growth in our backlog from approximately $10 million at the end of 1999 is evidence of continued strong customer demand for our products. As the only independent fiber supplier in the Western Hemisphere we are well positioned to make further inroads among cable manufacturers seeking a stable source of supply over the long term.''
Dr. Aslami continued, ``Following a strong performance in 1999, the strength in our backlog reinforces our optimism that revenues in the current year will be substantially ahead of 2000.'' Dr. Aslami indicated that revenues for the fourth quarter and all of 2000 are expected to be in the range of $13 to $14 million and $36 to 37 million, respectively. FiberCore reported revenues of $4.3 million in the 4th quarter of 1999 and $12 million for the full year.
To support the company's anticipated growth, FiberCore recently announced plans to expand its Brazilian facility and broke ground on another facility in Germany. Longer-term, the Company is planning to build and operate facilities in North America and Asia Pacific in order to address these key markets.
In addition to its standard multi-mode and single-mode fiber, FiberCore also offers GigaGrade multi-mode fibers, which are optimized to provide long link lengths at Gigabit speeds in laser-based systems and to guarantee high bandwidths when used with LED's (using overfilled launch).
FiberCore also offers a line of ValuGrade® and EconoGrade® optical fibers. These fibers are available in single-mode and multi-mode designs, and are ideally suited for Feeder Loop, Fiber-to-the Curb, (FttC), Fiber-to-the Home (FttH) and Fiber-to-the Desk (FttD) applications.
For more information about the company, its products, or shareholder information please visit our Website at: www.FiberCoreUSA.com or contact us at: Phone - (508) 248-3900 or by FAX - (508) 248-5588 or E-Mail FiberCore@aol.com
Except for the historical matters discussed above, the statements in this press release are forward looking and are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain general economic and business conditions; loss of market share through competition; introduction of competing products by other companies; changes in Industry capacity; pressure on prices from competition or from purchasers of the Company's products; availability of qualified personnel; the delivery of an ability to commission new equipment as scheduled; ability to obtain required financing; dependence on a limited number of raw material suppliers; the loss of any significant customers; and other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. |
