WFI Awarded Network Project With Total Potential Value in Excess of $6 Million From Major National Wireless Carrier
SAN DIEGO, April 4, 2005 /PRNewswire-FirstCall via COMTEX/ -- Wireless Facilities, Inc. (WFI) (Nasdaq: WFII), a global leader in the design, deployment, and management of wireless communication networks, technology networks and security systems, announced today that it has been awarded a wireless network communication project from a major national wireless carrier. The project, valued in excess of $6 million, is an expansion of an existing umbrella contract of previously announced work valued at approximately $17 million, bringing the total cumulative value of this contract to approximately $23 million.
According to terms of the agreement, WFI will perform turnkey site identification, acquisition, and deployment services for multiple sites located throughout the western United States. Work is scheduled to begin immediately and will be concluded in 2006. Further terms of the award were not disclosed.
"We are extremely pleased to be awarded additional work from this national wireless carrier and partner," said Eric DeMarco, President and CEO of WFI. "Awards of this nature demonstrate WFI's commitment to total quality, and to the strategic perspective we bring to every project. Our customers recognize these key differentiators, and we are fortunate to continue winning repeat business such as this."
About Wireless Facilities
Headquartered in San Diego, CA, Wireless Facilities, Inc. is an independent provider of systems engineering, network services and technical outsourcing for the world's largest wireless carriers, enterprise customers and for government agencies. The company provides the design, deployment, integration, and the overall management of wired and wireless networks which deliver voice and data communication, and which support advanced security systems. WFI has performed work in over 100 countries since its founding in 1994. News and information are available at www.wfinet.com. (code: WFI-mb)
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without limitation, expressed or implied statements concerning the Company's expectations regarding future financial performance and market developments that involve risks and uncertainties. Such statements are only predictions, and the Company's actual results may differ materially. Factors that may cause the Company's results to differ include, but are not limited to: changes in the scope or timing of the Company's projects; slowdowns in telecommunications infrastructure spending in the United States and globally, which could delay network deployment and reduce demand for the Company's services; the timing, rescheduling or cancellation of significant customer contracts and agreements, or consolidation by or the loss of key customers; the adoption rate of new wireless data services; financial constraints on our customers that could cause us to write off accounts receivable or terminate contracts; failure to successfully consummate acquisitions or integrate acquired operations; changes in the Company's effective income tax rate; the rate of adoption of telecom outsourcing by network carriers and equipment suppliers; the rate of growth of adoption of WLAN and wireless security systems by enterprises; and competition in the marketplace which could reduce revenues and profit margins. The Company undertakes no obligation to update any forward-looking statements. These and other risk factors are more fully discussed in the Company's Annual Report on Form 10-K filed on March 31, 2005 and in other filings made with the Securities and Exchange Commission.
Media Contact: Michael Baehr Director of Communications Wireless Facilities, Inc. 858.228.2799 Direct michael.baehr@wfinet.com Investor Contact: Rochelle Bold Senior VP of Corporate Development & Investor Relations Wireless Facilities, Inc. 858.228.2649 Direct rochelle.bold@wfinet.com
SOURCE Wireless Facilities, Inc.
press, Michael Baehr, Director of Communications, +1-858-228-2799, direct, or michael.baehr@wfinet.com, or investors, Rochelle Bold, Senior VP of Corporate Development & Investor Relations, +1-858-228-2649, direct, or rochelle.bold@wfinet.com, both of Wireless Facilities, Inc.
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