ISCO progress in using superconductors for improving base station throughput capacity.
JohnG
OT: ISCO Superconductor filter News:
Wednesday November 1, 2:51 pm Eastern
Time
Press Release
SOURCE: Illinois Superconductor Corporation
Illinois Superconductor
Acquires Lockheed Martin Canada Unit
MT. PROSPECT, Ill., Nov. 1 /PRNewswire/ -- Illinois Superconductor
Corporation (OTC Bulletin Board: ISCO - news), a leading supplier of
superconducting radio-frequency (RF) products for the wireless industry,
announced today that it has entered into an agreement to acquire Lockheed
Martin Canada's Adaptive Notch Filtering (``ANF'') Business Unit. The
Lockheed Martin Canada ANF unit has developed a unique technology
designed to monitor and suppress sources of narrow-band interference that
can reduce quality and capacity of CDMA-based wireless systems. The
purchase of the ANF business involves the acquisition by Lockheed Martin
Canada of 2.5 million shares of ISCO common stock, and is subject to
certain closing conditions. Lockheed Martin Canada will appoint one member
of the ISCO Board of Directors.
Dr. George Calhoun, Chief Executive Officer of ISCO, said: ``There are two
strategic implications for ISCO. First, the ANF technology complements our
existing high-temperature superconducting (''HTS``) technology. ANF targets
in-band interference, while HTS is effective against out-of-band interference.
In practice, our customers often suffer from both in-band and out-of-band
interference. While HTS can eliminate out-of-band interference, the in-band
interference sources are often sporadic and can be very hard to pin down.
With the ANF system we can identify and suppress in-band interference very
rapidly, before that interference can create significant negative impact on the
system performance. Now we have the ability to offer a comprehensive
solution to the entire interference-management problem.
``Second, with Lockheed Martin Canada coming on our Board, I believe that
we will gain credibility with a new segment of the wireless market. I think
that this technology has potential applications in both 2G and 3G systems. As
wireless networks become capacity-constrained or capacity-challenged by the
emergence of the wireless Internet, we believe that interference management
will become a critical technical strategy for the operators. The ANF
technology, which is unique and proprietary, has tremendous potential for
complementing our current HTS solutions to suppress all forms of destructive
interference.
``This is another step in broadening our technology base so we can offer the
widest range of solutions. We have both thin film HTS and thick film HTS,
with patented tower-mounted HTS solutions and fail-safe ATP(TM)
technology for base-mounted systems, to control adjacent channel
interference. ANF gives us an effective tool against in-band interference
sources such as analog narrowband interference and spurious harmonics or
intermodulation interference resulting from crowded cell-sites housing
multiple types of wireless systems in close physical proximity. In the future,
we will combine HTS with ANF to offer the strongest
interference-management solutions possible.''
ISCO offers its products in a range of configurations, supporting all cellular
and PCS bands, with and without notch filters, and with or without cryogenic
low-noise amplifiers, and for both tower-top and base-station deployment. Its
products include the smallest HTS filter systems on the market today, as well
as the only failure-proof all-temperature HTS filter architecture, our patented
ATP(TM) system. ISCO has sold more than 300 systems to operators in the
U.S., with continuing field trials indicating future deployment. In addition,
ISCO is developing ultra-high-performance superconducting front-end
products, including both transmitter and receiver products. The emerging
third generation of 3G wireless systems is expected to replace current
wireless systems over the next several years.
Illinois Superconductor Corporation is a leader in the commercialization of
high temperature superconducting technology for the wireless
telecommunications industry. The Company develops, manufactures and
markets radio frequency (RF) products to enhance the quality and capacity of
cellular telephone, personal communications services and other wireless
telecommunications services. More information about Illinois Superconductor
Corporation is available on the Company's internet web site at
ilsc.com .
Statements contained in this news release that are not historical facts are
forward-looking statements. Such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and reflect the Company's current expectations regarding
the future results of operations, performance and achievements of the
Company. The Company has tried, wherever possible, to identify these
forward-looking statements by using words such as ``anticipates,'' ``believes,''
``estimates,'' ``expects,'' ``plans,'' ``intends,'' and similar expressions. These
statements reflect the Company's current beliefs and are based on information
currently available to it. Accordingly, these statements are subject to certain
risks, uncertainties, and contingencies, which could cause the Company's
actual results, performance or achievements for 2000 and beyond to differ
materially from those expressed in, or implied by, such statements, as well as
the risk that certain conditions to closing of this transaction may not be
satisfied. These important factors include, without limitation, the ability to
integrate businesses acquired or to be acquired; the Company's history of net
losses and the lack of assurance that the Company's earnings will be sufficient
to cover fixed charges in the future; the degree to which the Company is
leveraged and restrictions imposed on the Company under its existing debt
instruments which may adversely affect the Company's ability to finance its
future operations; uncertainty about the Company's ability to compete
effectively against better capitalized competitors and to withstand downturns
in its business or the economy generally; the adverse effects on liquidity of
the Company's common stock because of its de-listing from the NASDAQ
National Market in June 1999; continued downward pressure on the prices
charged for the Company's products due to the competition of rival
manufacturers of front-end systems for the wireless telecommunications
market; the timing and receipt of customer orders; the Company's ability to
attract and retain key personnel; and the effects of legal proceedings. A more
complete description of these risks, uncertainties and assumptions is included
in the Company's filings with the Securities and Exchange Commission,
including those described under the heading ``Risk Factors'' in the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 1999.
The Company undertakes no obligation to update or revise these
forward-looking statements to reflect new events or uncertainties.
NOTE: If you have received this release in error, or for any reason would like
to be removed from this list, e-mail us at receptionist@ilsc.com , or fax us at
847-391-5015. Thank you. |
