~OT~...Greg and Vendit:...IFCI comes through with ANOTHER contract...FYI...
**This firm really knows how to deliver <VBG>...
<<Thursday February 24, 7:33 am Eastern Time
Company Press Release
International FiberCom AeroComm Subsidiary Awarded Contract in Excess of $5 Million by Bell Atlantic Mobile To Install Proprietary Wireless Technology for Nextel, Omnipoint, Sprint and AT&T
PHOENIX--(BUSINESS WIRE)--Feb. 24, 2000-- International FiberCom Inc. (Nasdaq:IFCI - news) Thursday announced that its wireless solutions division, Englewood Cliffs, N.J.-based AeroComm Inc., was recently designated by Bell Atlantic Mobile (BAM) as the Cellular/PCS Carrier Coordinator for New York City's Queens Midtown and Brooklyn Battery Tunnels.
In this capacity, AeroComm will coordinate with Nextel, Omnipoint, Sprint and AT&T to engineer and install AeroComm's proprietary system to allow the transmission of cellular, AM and FM signals in areas where connectivity is a problem, such as tunnels, subways and office buildings.
The contract valued in excess of $5 million was awarded by BAM as a follow-up to the full wireless system for cellular use that AeroComm designed and installed for BAM in these same two tunnels in September 1998. The AeroComm system also provides for AM/FM rebroadcasting for commuter convenience and emergency announcements.
According to IFCI Chairman & CEO Joseph P. Kealy, as Carrier Coordinator, AeroComm will work in conjunction with BAM to facilitate cell coverage in the tunnels for such major carriers as Nextel, Omnipoint, Sprint and AT&T. This will include the design of the installation in conjunction with each carrier, BAM and the MTA.
AeroComm will also perform compatibility testing and intermodulation (IM) testing with each carrier, as well as handling ongoing maintenance for each carrier.
Kealy commented: ''This contract represents a significant milestone for our AeroComm subsidiary and is a strong vote of confidence by major wireless companies of the effectiveness of our proprietary wireless connectivity technology. Not only is this the largest contract to-date for AeroComm, it also provides an initial solid base of reoccurring maintenance revenue from each of these carriers on which to build.''
International FiberCom's AeroComm subsidiary, with offices in Englewood Cliffs, N.J., and Germantown, Md., has full wireless system capability and specializes in the design and development of wireless systems for in-building, tunnel, subway and other RF dead zone applications. Its engineering capability includes broadband systems and integration of infrared technology, as well as a full product line of narrow band receivers and transmitters for the wireless market.
In addition to the QMT and the BBT, AeroComm has designed and installed systems for Boston's Ted Williams Tunnel, Seattle's Mercer and Mount Baker tunnels, Virginia's Hampton Roads Tunnel, and New York City's Lincoln and Holland Tunnels.
International FiberCom is a leading provider of a wide range of engineering, development and maintenance services for fiber optic, broadband networks, public telephone networks, local and wide area networks, and specialized wireless applications.
With a number of recent strategic acquisitions that complement and enhance existing services and products, International FiberCom has positioned itself as a ''one-stop shop'' for the telecom and cable TV industries.
This news release contains certain forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, by their very nature, include risks and uncertainties. Accordingly, the company's actual results could differ materially from those discussed in this release. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, profitability, cash flows and capital needs. Such factors, many of which are beyond the control of the company, include the following: the company's success in obtaining new contracts; the volume and type of work orders that are received under such contracts; the accuracy of the cost estimates for projects; the Company's ability to complete its projects on time and within budget; levels of, and ability to collect accounts receivable; availability of trained personnel and utilization of the company's capacity to complete work; the company's ability to complete proposed acquisitions and, upon their completion, to integrate the acquisitions into its organization and manage its growth; competition and competitive pressures on pricing; and economic conditions in the United States and in the regions served by the company. A more complete listing of cautionary statements and risk factors is contained in the company's report on Form 10-KSB for the year ended Dec. 31, 1998, filed with the Securities and Exchange Commission.>>
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I will continue to HOLD all my IFCI shares and expect that after earnings we could easily be at new highs again....the next week should be interesting..:-).
Best Regards,
Scott
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