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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI) -- Ignore unavailable to you. Want to Upgrade?

To: Charly who wrote (2611)	6/29/1999 11:43:00 AM
From: FastC6	Read Replies (1) \| Respond to of 3541

What kind of recommendation are you talking about? An outperform, buy, hold, what? Anything greater than a HOLD would be foolish given the upcoming weak quarter. Charly you have been around this co. long enough to know that Joe Kealy's projections have been overly optimistic and careless in what appears to be an attempt to pump the share price. . .

To: Charly who wrote (2611)	6/29/1999 11:52:00 AM
From: The Band Leader	Read Replies (1) \| Respond to of 3541

Read annual report cover-to-cover this morning. Interesting reading. Just some stray thoughts: • Still wonder about the "International" in the name, company reports that it only operated in six STATES last year. The report really gives the feel for how small this firm is, and hence the quantum leap that the AT&T contract represents. • The description of the Equipment Distribution division is very unappealing. They are in the business of buying and re-selling obsolete telecom equipment.?? Also, the rationale for the AeroComm acquisition is not clear. I am not convinced that it fits with other divisions. Why don't they focus on FIBER as in International FIBERcom? • Frightening statement on p. 17: "Approximately 60% of our systems are Y2K compliant." Yikes. • Management needs to be more careful about avoiding even the slightest appearance of impropriety such as "Beiriger, Brown, Kleven, and Kealy each failed to file one report on Form 4 in a timely fashion" (p. 21) Many other examples like this- they need to have better internal controls if they're ready to move up to the big leagues. • Overall, I'm still cautiously optimistic. This is a small time construction company trying to latch onto the coattails of the explosive growth of the communications industry. If they can complete this transition successfully we'll have a triple from here. But, IMHO they need to focus on what they do best and make only acquisitions that grow the fiber business.