Covista Communications, Inc. Reports New York City Switching Facility Disabled Following World Trade Center Disaster.Business Editors LITTLE FALLS Little Falls is the name of some places in the United States of America:
Covista Communications, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CVST CVST Chinese Visiting Scholars in Toronto (Canada) ) has reported that its New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. switching facility and certain of the Company's network capabilities have been temporarily disabled as a result of the facility's proximity to the World Trade Center. Local police and fire officials have sealed off all access to the facility. All electric power to the surrounding area has been cut off, and emergency power generation was knocked out when the Trade Center towers collapsed. Emergency expansion of the Company's other facilities is under way to expedite restoration of Covista service. The impact on Covista's operating results, if any, which is not anticipated to be material in any event, is not currently ascertainable. John Leach, Covista's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "While we continue to absorb the enormity of the human tragedy, we also must cope with circumstances that uniquely affect the telecommunications industry. Covista will continue to operate and to provide service through this crisis, using our own alternate switch sites and other network facilities. Restoration of interrupted service will be accomplished as quickly and seamlessly as possible." Mr. Leach concluded, "Tuesday's disastrous events shocked and deeply saddened all of us at Covista. Our sincerest sympathies are with all the victims of this terrible tragedy." About Covista: Covista is a facilities-based long distance telecommunications, Internet and data services provider with a substantial customer base in both the commercial and wholesale market segments. Its products and services include a broad range of voice, data and Internet solutions, including long distance and toll-free services, calling card, frame relay, Internet access, VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. , directory assistance and teleconferencing services. The wholesale division provides domestic and international termination services to carriers worldwide at competitive rates. Covista currently owns and operates switches in New York City and Newark, New Jersey, and previously has announced plans to expand to additional switch sites in Los Angeles, Chicago, Dallas and Chattanooga, as well as to open a 200-seat call center in Chattanooga. An additional switch site in the Philadelphia area is expected to be added when the previously-announced acquisition of Capsule Communications is completed. The Company previously announced that it has acquired access to nation-wide network facilities comprising 2,822,400,000 DS-0 channel miles of telecommunications capacity. Covista operates a Network Operations Center See NOC. Network Operations Center - (NOC) A location from which the operation of a network or internet is monitored. Additionally, this center usually serves as a clearinghouse for connectivity problems and efforts to resolve those problems. in Northern New Jersey to monitor its switched network and to coordinate its various services. Covista processes approximately 95% of all its call volume through its own facilities. For information on becoming a Covista customer, please telephone (888) 426-8478 or visit the Company's website at www.covista.com. Information Relating to Forward-Looking Statements: This press release contains historical and forward-looking statements made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. Investors are cautioned that forward-looking statements such as statements of the Company's plans, objectives, expectations and intentions involve risks and uncertainties. The cautionary statements made in this release should be read as being applicable to all related statements wherever they appear. Statements containing terms such as "believes," "expects," "plans," "projects," "intends," "estimates," "anticipates," or similar terms, are considered to contain uncertainty and are forward-looking statements. The actual results could differ materially from those discussed. Factors that could contribute to such differences include: changes in market conditions and increased competition from other telecommunications and Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. ; government regulations; the volatile and competitive environment for Internet telephony; advances in competitive products or technologies that could reduce demand for services; availability of transmission facilities; management of rapid growth; customer concentration and attrition; the ability to successfully integrate acquired companies; the ability to successfully develop and bring new services to market; and other risks discussed in the company's SEC filings, including Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Form 10-Q Form 10-Q See 10-Q. , which can be accessed at the SEC Web site at www.sec.gov. Readers of this release should understand that it is not possible to predict or identify all such risk factors. Consequently, this list should not be considered a complete statement of all potential risks or uncertainties. Covista does not assume the obligation to update any forward-looking statement, except as is required by applicable law. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion