International FiberCom's Concepts In Communications Subsidiary Awarded $5.2 Million in New Contracts
PHOENIX--(BUSINESS WIRE)--Feb. 9, 1999--International FiberCom Inc. (Nasdaq/NMS:IFCI - news; PHLX:IFC) and its Chairman and Chief Executive Officer, Joseph P. Kealy Tuesday announced that its wholly-owned subsidiary, Concepts In Communications Inc. (''Concepts''), has been awarded separate contracts totaling approximately $5.2 million.
Work under these contracts has commenced and all work is expected to be completed by the end of June 1999. These contracts are in addition to numerous awards that are ongoing and considered to be ''work-in-progress'' by Concepts.
Contracts of various size were awarded by Gambro Healthcare Patient Services, AutoZone, Bright Horizons Family Solutions, U.S. Xpress and others. Work to be done includes installation of data cable, fiber-optic cable, voice & data distribution cable, ongoing local and wide area network integration and sale and installation of network hardware.
Commenting on the awards, Thompson Brown, president of the Concepts In Communications subsidiary, stated, ''It is a true testament to the quality of service and work Concepts provides when established national customers like AutoZone, Gambro and others continue to come back to us with their networking and cabling needs.
''1998 was a record year for Concepts and given that contract activity and the general outlook continues to remain very strong, we anticipate another record year in 1999.''
International FiberCom is a fully integrated ''one stop shopping'' out source provider for the telecom and CATV industries. Through its seven subsidiaries, IFCI provides a range of high level engineering, broadband network systems design, installation of structured cable and fiber-optic networks and complete telecommunications systems integration services with LAN's and WAN's expertise.
Its Kleven Communications and Riley Communications subsidiaries specialize in the design, installation and maintenance of fiber-optic and other cable services for the telecommunications and cable industries.
Its Tennessee based subsidiary, Concepts In Communications, provides systems integration services including design, engineering, installation and maintenance of structured cable systems network hardware and software, workstation peripherals and intercommunications systems.
Its telecommunications engineering subsidiary, Compass Communications, specializes in designing and building broadband video, voice and data networks systems. Its telecom equipment units, Southern Communications Products, United Tech and Diversitec are leaders in a fast growing niche business within the telecommunications equipment sector.
This press release contains ''forward-looking statements'' which are based largely on the company's expectations and are subject to various business risks and uncertainties, a number of which are beyond the company's control. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995.
Actual results could differ materially from these forward-looking statements as a result of such risks. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained herein will in fact transpire or prove to be accurate.
A more complete listing of cautionary statements and risk factors is contained in the company's reports filed on Form 10-KSB and Form 10-QSB with the Securities and Exchange Commission. The company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.
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Contact:
International FiberCom Inc., Phoenix
Joseph P. Kealy, 602/941-1900
or
Liviakis Financial Communications Inc.
Robert Prag, 916/448-6084 |
