WFI Wins Wireless Network Contracts in Argentina Worth Approximately $8 Million
SAN DIEGO, June 27, 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 two wireless network infrastructure contracts for work in Argentina valued at approximately $8 million. The contracts were awarded by one of Argentina's largest wireless carriers to provide complete turnkey installation of a GSM network for several hundred sites. Scope of the project entails overall network design and deployment services including site identification and acquisition, and municipal management including consultation on zoning requirements and permits. Work is scheduled to begin immediately. Further terms of the award were not disclosed.
"This award demonstrates the exploding subscriber growth taking place in Latin America and the need for quality networks to support this growth," said Eric DeMarco, President and CEO of WFI. "WFI is fortunate to enjoy very strong relationships in Latin America and a solid reputation for delivering quality. I am pleased that we can play a significant role in deploying wireless networks in emerging markets like Argentina."
Latin America has been an area of growth for WFI. As a result, the Company has recently established an office in Cordoba, Argentina. The addition of the office in Argentina expands WFI's presence in Latin America and brings the total number of offices to three including Mexico City and Brazil.
"Latin America continues to be a high value opportunity for WFI, and we are strategically positioning offices in this part of the world to take advantage of these opportunities," DeMarco added.
About WFI
Headquartered in San Diego, CA, WFI 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.
Investor Contact: Rochelle Bold Senior VP of Corporate Development & Investor Relations Wireless Facilities, Inc. 858.228.2649 Direct rochelle.bold@wfinet.com Media Contact: Michael Baehr VP of Communications Wireless Facilities, Inc. 858.228.2799 Direct michael.baehr@wfinet.com
SOURCE Wireless Facilities, Inc.
media, Michael Baehr, VP of Communications, +1-858-228-2799, michael.baehr@wfinet.com, or investors, Rochelle Bold, Senior VP of Corporate Development & Investor Relations, +1-858-228-2649, rochelle.bold@wfinet.com, bot of Wireless Facilities, Inc.
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