International Fibercom's Kleven Communications Subsidiary Announces $13 Million in New Projects.PHOENIX--(BUSINESS WIRE)--June 17, 1998-- IFCI IFCI Industrial Finance Corporation of India IFCI Institute for Fuel Cell Innovation (Canada) IFCI International Fire Code Institute IFCI International Finance & Commodities Institute (Geneva, Switzerland) Has Announced $26 Million in New Contract Revenue in the Month of June International FiberCom 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 :IFCI) (PHLX PHLX See: Philadelphia Stock Exchange PHLX See Philadelphia Stock Exchange (PHLX). :IFC (Internet Foundation Classes) A class library from Netscape that provides an application framework and graphical user interface (GUI) routines for Java programmers. IFC was later made part of the Java Foundation Classes (JFC). See JFC, AFC and AWT. See also ICF. ) Wednesday announced that its wholly-owned subsidiary, Kleven Communications ("Kleven"), has been selected by the City of Phoenix to complete three projects to provide joint fiber-optic, electric and other utility installations. These projects are expected to generate combined revenue of approximately $13 million. All work is expected to be completed by Kleven within the next eight months. International FiberCom's Kleven Communications unit, based in Phoenix, builds and maintains broadband fiber-optic and other networks for major cable, telephone and telecommunications companies, and municipalities. Kleven is currently performing a fiber-optic upgrade for Cox Communications Cox Communications is a privately owned subsidiary of Cox Enterprises providing digital cable television and telecommunications services in the United States. It is the third-largest[2] cable television provider in the United States, serving more than 6. as part of Cox's expansion and upgrading of its cable television system in Phoenix with fiber-optic cable. The system will accommodate high speed, broadband roll-out, data and video transmission as well as telephony. This announcement brings the total amount of new contract revenue secured by IFCI during the month of June to more than $26 million. The company previous announced its Riley Communications unit was awarded a sole source subcontractor One who takes a portion of a contract from the principal contractor or from another subcontractor. When an individual or a company is involved in a large-scale project, a contractor is often hired to see that the work is done. contract to provide a group of fiber-optic rings that is expected to generate approximately $10 million by the end of December. Also announced in June, IFCI's Concepts In Communications subsidiary was awarded separate contracts of various size totaling $3.2 million for the installation of data cable, fiber-optic cable, voice and data distribution cable and local and wide area network integration and sale and installation of network hardware. International FiberCom is a fully integrated "one stop shopping" outsource provider for the telecom and CATV (Community Antenna TV) The original name for cable TV. It used a single antenna at the highest location in the community in order to deliver a quality signal to homes in areas with hilly terrain or other interference. industries. Through its four subsidiaries, IFCI provides a range of high level engineering, broadband network systems design, installation of structured cable and fiber-optic networks and complete telecommunications systems integration services with LAN's and WAN's expertise. Its Kleven Communications subsidiary specializes in the design, installation and maintenance of fiber-optic and other cable services for the telecommunications and cable industries. Its Tennessee based subsidiary, Concepts In Communications, provides systems integration services including design, engineering, installation and maintenance of structured cable systems, network hardware and software, workstation peripherals and intercommunications systems. Concepts maintains value added reseller See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). and/or partner agreements with Lucent Technologies, 3Com, Bay Networks, Novell, WIN Communications, BellSouth, Compaq and Hewlett Packard. Its telecommunications engineering subsidiary, Compass Communications, specializes in designing broadband video, voice and data networks systems. Southern Communications Products is a leader in a fast growing niche business within the telecommunications equipment sector. Note to Editors: This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " which are based largely on the company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the company's control. These forward-looking statements are intended to qualify for the safe harbors 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. from liability established by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained herein will transpire or prove to be accurate. A more complete listing of cautionary statements and risk factors is contained in the company's reports filed on Form 10-KSB, Form 10-QSB and Form SB-2 with the Securities and Exchange Commission. CONTACT: International FiberCom Inc., Phoenix Joseph P. Kealy, 602/941-1900 or Liviakis Financial Communications Inc. Robert Prag 916/448-6084 |
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