To: Mama Bear who wrote (33070 ) 4/27/1999 9:12:00 AM From: Scooter Respond to of 122087
ICOM... news out this morning... ICOM was up over 60% yesterday... how much today?? Tuesday April 27, 7:30 am Eastern Time Company Press Release SOURCE: Intelect Communications, Inc. Intelect Builds US Sales With $1.2MM Award for a New Communications Network RICHARDSON, Texas, April 27 /PRNewswire/ -- Intelect Communications, Inc. (Nasdaq: ICOM - news), a leader in emerging network technologies, announced today that its subsidiary, Intelect Network Technologies, has entered into a $1.2 million agreement with MFS Network Technologies, a systems integrator, to provide SonetLynx(TM) as the backbone for a communications network. Shipments for the MFS installations are expected to begin later this year. The new agreement, which represents the latest of a series of major awards to Intelect Network Technologies during the past three months, further validates SonetLynx's ability to offer failsafe voice, data and video communication solutions between multiple locations over a single shared network. SonetLynx has established a significant presence in the Northeast with several major projects being installed in New Jersey, New York and Connecticut utilizing the product's next generation technology for their communications backbones. ''This contract enhances our relationship with one of the premier system integrators in the country. It also confirms our evolving product strategy,'' stated Bill Barnett, president of Intelect Network Technologies. ''We are seeing tremendous growth and demand for ITS networks and have positioned ourselves as a leading provider of network solutions for this market. With the several new capabilities scheduled to be added over the next twelve months, SonetLynx will be able to offer broader applications in many new markets.'' Intelect Communications, Inc. is a communications technology company providing innovative and cost-effective products, services and solutions to integrate voice, data and video networks. Applications for Intelect's products and services range from the network infrastructure to the desktop. Intelect's products are designed to anticipate and meet the demands for increasing speed, capacity and complexity of electronic and photonic communications. Principal markets for Intelect's products are: fiber optic network transmission, digital signal processing (DSP), and video communications. Intelect also provides high-value engineering services to the communications industry. Intelect currently has under development an intelligent programmable telecommunications switching platform. Intelect's principal business units are Intelect Network Technologies Co., DNA Enterprises, Inc. and Intelect Visual Communications Corp. Further information about the family of multimedia products and services can be accessed at these World Wide Web locations: Intelect Communications, Inc. www.intelectcom.com Intelect Network Technologies www.intelectinc.com Intelect Visual Communications www.videoconferencing.com DNA Enterprises www.dnaent.com Except for historical information contained herein, the statements in this announcement are forward looking statements which involve risk and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, the forward looking statements. Factors that might cause such a difference include, but are not limited to, those relating to: general economic conditions in the markets in which the Company operates; success in the development and market acceptance of new and existing products (particularly SonetLynx(TM), FibreTrax(TM), LANscape and CS4(TM); dependence on suppliers, third party manufacturers and channels of distribution; customer and product concentration; fluctuations in customer demand; maintaining access to external sources of capital; ability to execute management's margin improvement and cost control plans; overall management of the Company's expansion; and other risk factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. SOURCE: Intelect Communications, Inc.