From 7/7: TII Industries announces the award of a multi-million dollar contract with the Puerto Rico Telephone Company
COPIAGUE, N.Y.--TII Industries Inc. (NASDAQ NMS: TIII) announced today the award of a contract from the Puerto Rico Telephone Company (PRTC) valued at approximately $6.5 million dollars annually to provide PRTC with a line of advanced network interface devices (NIDs) recently developed by TII.
The Puerto Rico Telephone Company, with over 1.6 million access lines, services homes and businesses on the island of Puerto Rico. PRTC's mission is to offer its customers the most modern and highest quality telecommunications services.
Timothy J. Roach, president and chief executive officer, commented, "PRTC's award broadens a long and mutually beneficial relationship between our companies. TII currently supplies PRTC with approximately $2 million dollars in annual equipment sales. As we begin volume deliveries of these innovative products this fall, this contract should more than triple our annual sales to PRTC."
PRTC selected TII's new, multiple line NID family of enclosures after a highly competitive bid process. NIDs are used to provide homes and businesses with multiple telephone access lines, overvoltage protection and remote electronics. TII's NIDs, which will be produced in the company's facilities in Puerto Rico, will incorporate TII's maintenance test electronics for remote subscriber line testing as well as state-of-the-art sealed overvoltage protection. These NIDs have also been designed to meet future customer requirements including the ability to accommodate additional access lines, as well as room to incorporate TII's patented coax overvoltage protector for future upgrades to broadband services.
A major component of TII's new NID family is the modular gel sealed overvoltage protectors and customer interface modules jointly produced with Raychem under the companies' previously announced strategic agreement.
Incorporating Raychem's proprietary GelGuard(R) sealing technology with TII's overvoltage protectors, these NIDs are designed to significantly reduce the telephone company's maintenance expenses and eliminate costly system downtime caused by lightning, weather, pollution and other destructive environmental factors which can severely damage the telephone company's outside plant facilities.
TII INDUSTRIES INC., with facilities in Copiague, N.Y., North Carolina, Puerto Rico and the Dominican Republic, specializes in the design, manufacture and sale of overvoltage surge protection, fiber optic, network interface and electronic products, principally for use in the telecommunications industry. TII markets its products directly or indirectly to the Regional Bell and independent telephone operating companies and CATV providers, as well as original equipment suppliers who sell to the global communications marketplace. Overvoltage protectors are required by the National Electric Code to be installed on the user's home or office telephone lines to prevent injury or damage caused by lightning and other electrical occurrences. TII's customers service over 165 million subscriber lines in the United States.
Statements in this release that are not strictly historical are "forward-looking" statements which should be considered as subject to the many risks and uncertainties that exist in the company's operations and business environment. These risks and uncertainties include economic conditions, market demand and pricing, competitive and cost factors as well as other factors from time to time discussed in TII's SEC reports.
Visit the company's world wide web site located at tii-industrie s.com
CONTACT: TII INDUSTRIES INC.
Paul Sebetic, Vice President & Chief Financial Officer
Jack Tarulli, Director, Investor Relations
516/789-5000
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