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To: Johnny Canuck who wrote (36175)	2/15/2002 2:15:07 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70282

``Wireless markets remained challenging in the fourth quarter, compounded by a weakened world economy,'' said Thomas Munro, President of WFI. ``While fourth quarter revenue from our domestic operations remained about even with the third quarter, international business fell sharply, especially in Mexico as carrier customers cut back on network spending. Last quarter, we noted that our business with one carrier customer in Mexico was halted and was not expected to resume in the fourth quarter. Delays in beginning new, domestic engagements in the fourth quarter prevented us from offsetting the decline in our international operations.'' Commenting on the first quarter of 2002, Mr. Munro continued by saying, ``On a positive note however, industry related contract activity in the first quarter of 2002 has improved as carriers prepare to make infrastructure investments to their networks to enhance capacity and call quality, expand network footprints to alleviate roaming expenses, as well as deploy new technology overlays that will bring higher-speed Internet access to mobile users. In 2001, we invested heavily to transition our customer base from emerging carriers to a group of larger, well funded carriers, by deepening our relationships and establishing our project expertise. Collectively, the top ten carriers will account for close to 90 percent of the domestic capital expenditures in 2002.'' ``It's important to emphasize that our visibility into our customers' plans has been limited for some time, restricting our ability to forecast and provide financial guidance. What little guidance we have been able to provide has been conditioned on this reduced visibility and precision and reflects our best information at the time.'' ``For 2002, there are a number of industry-related opportunities that could give us reason for optimism for fiscal 2002. They include new contracts that we have just signed and the levels of RFP and proposal activity that we are seeing. The successful outcome of this new business could enable WFI to improve sequential quarterly revenues in 2002.'' ``However, given the uncertainty of customer plans and that these plans often change, we could also find our revenue run rates at less than earlier quarters should these contracts not come to fruition or if they are subsequently cancelled or suspended. So, while we have reason to be guardedly optimistic, we continue to have little visibility on future revenues and at this time we are not able to provide any specific quarterly financial guidance.'' biz.yahoo.com [Harry: No help from WFII. Demand for new infrastructure builds still weak.]