ABLE TELECOM HOLDING CORP (NASDAQ: ABTE)
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News February 3, 14:28 Eastern Time
ABLE TELCOM TAKES HIGHWAY INTO NEXT CENTURY
WEST PALM BEACH, Fla., Feb. 3 /PRNewswire/ -- Able Telcom Holding Corp. (Nasdaq: ABTE) announces today that its subsidiaries, Transportation Safety Contractors, and Georgia Electric Co., were the successful bidders for a Virginia Department of Transportation (VDT) project that totals approximately $58,943,000.00 to Able over the next few years. The actual award awaits final approval from the VDT.
The project is a Traffic Management System comprised of closed circuit television cameras with associated transmission devices, acoustical detection devices, changeable message signs and fiber optic cabling with its associated transmission equipment. This project also consists of upgrading the existing Traffic Control Center and integrating all devices to be operated by a central computer system.
Both Georgia Electric Co. and Transportation Safety Contractors have successfully completed projects of this nature in the past, however this will be the first project of this magnitude to be undertaken. Barry Hall, President of both Transportation Safety Contractors and Georgia Electric Co., stated, "This project should serve as a stepping stone to propel our companies into next century."
This press release may be deemed to include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risk and uncertainty, including financial, and trend projections. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. The important factors that could cause actual results to differ materially from those in the forward-looking statements herein (the "Cautionary Statements") include, without limitation, the Company's reliance on third parties to complete the described transaction and other transactions, the Company's degree of financial leverage, risks associated with debt services requirements and interest rate fluctuations, risks associated with acquisitions and the integration thereof, risks of international business, dependence on availability of transmission facilities, regulations risks including the impact of the Telecom Act, contingent liabilities and the impact of competitive services and pricing, as well as other risks referenced from time to time in the Company's filings with the SEC. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by the Cautionary Statements. The Company does not undertake any obligation to release publicly any revisions to such forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Able Telcom Holding Corporation provides design, installation, maintenance and systems integration services for advanced voice, data and video communications networks throughout the United States and internationally, primarily in Latin America.
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