International Fibercom Inc. Announces Contract With Major Competitive Local Exchange Carrier ("CLEC").PHOENIX--(BUSINESS WIRE)--June 30, 1998-- Concepts In Communications Unit To Engineer, Install & Maintain CLEC's Fiber & Cooper Cable Infrastructure 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 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) ) (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. ) and its Chairman & Chief Executive Officer, Joseph Kealy, Tuesday announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Concepts In Communications Inc. ("Concepts"), has been awarded a Master Installation Agreement from an unspecified major competitive local exchange carrier ("CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) ") covering current and future projects in three Tennessee metropolitan areas. Work under the contract has begun and IFCI anticipates the duration of the contract to span several years. Under the terms of the contract, Concepts will provide for EFI See UEFI. EFI - Extensible Firmware Interface (engineer, furnish and install) of riser and horizontal cabling in multistory mul·ti·sto·ry also mul·ti·sto·ried adj. Having several stories: a multistory hotel. Adj. 1. , multi- tenant buildings where the CLEC would become the primary "dial tone" provider. Concepts will also provide installation and maintenance of outside plant fiber cable and will also install channel bank equipment associated with the CLEC's customers' network services. Commenting on the agreement, Thompson Brown, president of the Concepts unit, stated, "It is with great enthusiasm that we add another major telecommunications provider to our growing list of new customers from the telecom and cable industries. This award gives Concepts the opportunity to directly participate in the CLEC's rapidly expanding dial tone initiatives. We feel very good about that posture. "Although we are unable to predict the dollar amount of additional projects that may be awarded under this contract, we believe it could be substantial for Concepts over the next several years." During the first quarter, IFCI's Concepts In Communications systems integration unit was awarded a contract from the State of Tennessee which is expected to generate at least $25 million in revenue over the 5-year life of the contract. Concepts posted record revenues and profits in each of the three months of the first quarter. Also announced in June, Concepts 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 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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