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Technology Stocks : Able Telecom (ABTE)
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To: Sir Auric Goldfinger who wrote (660)4/8/1999 5:48:00 PM
From: david james  Read Replies (1) of 700
 
Thanks. We are all here to make money and the best way is to be informed. Able has a lot of potential, but they are also pretty good at tripping over their own feet.

By the way, I was in error. Its 12% margins not 15%.

As part of the MFSNT Acquisition and pursuant to the WorldCom Master
Services Agreement, the Company has agreed to provide telecommunication
infrastructure services to WorldCom Network on a cost-plus 12% basis for a
minimum of $40 million per year, and the aggregate sum payable to the Company
for the five-year contract is guaranteed to be no less than $325.0 million,
subject to certain adjustments if we default on the WorldCom Note. To achieve
these established minimums, WorldCom Network has agreed to award the Company at
least 75% of all of WorldCom Network's outside plant work related to its local
network projects up to $500 million and the Company has agreed to accept and
perform work orders from WorldCom Network for as much as $130 million of
services during each year of the five-year contract.
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