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Strategies & Market Trends : The Thread II -- Ignore unavailable to you. Want to Upgrade?

To: stan s. who wrote (5720)	8/8/2001 7:12:43 PM
From: Frederick Langford	Respond to of 9026

Little ol' WFII beats estimates... biz.yahoo.com Wednesday August 8, 4:06 pm Eastern Time Press Release SOURCE: Wireless Facilities, Inc. Wireless Facilities Reports Results for Second Quarter 2001 - Revenue Improves 4% Sequentially From First Quarter 2001 - - Gross Profit Margin Improves to 41% of Revenues From 26% in Q1 01- - Pro Forma EBITDA Improves to $1.7 Million Compared to ($18.0) Million in Q1 01 - SAN DIEGO, Aug. 8 /PRNewswire/ -- Wireless Facilities, Inc., (WFI), (Nasdaq: WFII - news), a global leader in the design, deployment and management of wireless telecommunications networks, today announced financial results for the second quarter and six months ended June 30, 2001. Revenue for the second quarter increased sequentially by four percent from the first quarter of 2001 to $54.7 million, but decreased eight percent compared to the $59.4 million reported in the second quarter of 2000. The increase in sequential quarterly revenue reflects increases in both the Company's domestic and international operations. The net reported loss for the second quarter totaled $38.3 million, or $0.87 per diluted share. Financial results for the second quarter include a number of unusual charges, a change in the effective tax rate and amortization of goodwill and other charges related to acquisitions. Excluding the effects of these charges and the change in effective tax rate, net income would have been $1.8 million, or $0.04 per diluted share compared to a net loss of $4.9 million, or $0.11 per diluted share in the first quarter of 2001. Unusual charges in the second quarter included a bad debt provision relating to accounts receivable totaling $16.5 million, of which $13.9 million related to Metricom, Inc. On July 2, 2001, and in response to Metricom's filing for bankruptcy protection, WFI issued a press release stating it would reserve for the entire Metricom receivable. Additional unusual charges totaled $4.9 million for severance costs, a bad debt provision for a note receivable, rent liability for unused space and reserve provisions which are related to the Company's Mexican operations. The Company has also recorded an impairment charge of $12.9 million relating to goodwill and other intangibles resulting from prior acquisitions. ``Despite a wireless environment that continues to be marked by low visibility, we were able to execute our quarterly plan and now feel more encouraged regarding prospects for the second half of this year,'' said Thomas Munro, President of WFI. ``Subscriber patterns in the United States remained strong throughout the second quarter and wireless carriers have reiterated their capital commitments to provide both voice and next-generation data services. We believe our ongoing efforts to align the Company's resources with market opportunities improved our operating metrics well above the first quarter and we remain focused on strengthening this trend through the third and fourth quarters of this year. For our third and fourth quarters, we anticipate further sequential increases in revenue and EBITDA growth, bringing fiscal year 2001 revenue into a range of $217 million to $240 million.''

To: stan s. who wrote (5720)	10/22/2001 3:23:36 PM
From: Ian McGuire	Respond to of 9026

despot!

To: stan s. who wrote (5720)	8/8/2002 12:09:26 AM
From: Ian McGuire	Respond to of 9026

stan!....tis been a year since your last post; you said you would be right back!...you left me here with ernst, mcgeehan and pete??...for a year??.....bastage!!!!..hehe..