|chinaman - Samstag, 7. Oktober 2000 - 03:44|
| Leider hat es mit der im Cisco Board zugesagten Eröffnung eines International FiberCom Threads im Bereich Auslandsdepot noch nicht geklappt. Eigentlich schade, denn es handelt sich um einen von mib's absoluten Favoriten. Da ich aber einen interessanten Artikel im II gefunden habe, der auch nicht aktueller wird, eröffne ich einfach mal hier, wo Selbsthilfe möglich ist, einen Thread. Vielleicht kann der Admin den Thread ja dann dahin schieben, wo er hingehört. Vielleicht kann der Artikel ja dann auch die Ausgangsbasis für eine weitere detaillierte Diskussion der Aktie sein. Danke ! |
Bid & Ask: How to Add Some Fiber to Your Diet Tell us what you think in IFCI's Board http://www.individualinvestor.com
By Tom Byrne (9/19/00)
(Talk to Tom in his new 'Tom's Bid & Ask' message board.)
Last month, International FiberCom (NASDAQ: IFCI - Quotes, News, Boards) caught my eye when it teamed up with Next Level Communications (NASDAQ: NXTV - Quotes, News, Boards) to offer network development services to customers of both companies.
Under the agreement, IFCI will provide the broadband engineering and installation services necessary to connect Next Level's VDSL access equipment. VDSL, which is short for video digital subscriber line, enables high-speed video, Internet data and telephony services to run over copper phone lines.
I think this partnership could add a lot of money to IFCI's bottom line because Next Level just received a huge $80 million order from a South Korean firm. Some of this order will have to trickle through to IFCI. Plus, IFCI announced $87 million in new contracts during July from other telecom companies.
Although Next Level is losing money hand over fist trying to sell DSL and VDSL equipment, IFCI is profitable and it reported great results in the most recent quarter, ended June 30. Revenue increased 69%, to $76 million, a new quarterly record.
Net income for the quarter, before acquisition-related expenses, was $4.8 million, or $0.14 per share, compared to net income of $2.4 million, or $0.08 per share for the second quarter of 1999. Net income, after non-recurring charges, was $3.4 million, or $0.10 per share. The charges were for the acquisition of Premier Cable Communications, which specializes in underground and aerial installation of telecommunications infrastructure, including residential installations.
There were two important aspects to the second quarter. First, IFCI generated more than $103 million in new contracts during the quarter, which exceeded the quarter's revenue. Second, IFCI posted positive cash flow from operations of $2.8 million for the second quarter.
The second quarter exemplifies IFCI's commitment toward its financial progress. Sales have doubled every year at IFCI for the last five years. In 1995, IFCI posted a net loss of $2.4 million. In 1999, the company posted a net profit of $7.8 million, and net income will at least double again this year.
IFCI makes money by making systems that transmit voice, data and video communications through wired, wireless, internal and external networks. IFCI installs networks that support Internet-related applications and other communications. The company's services range from the design, development and installation of fiber-optic networks to wireless connectivity solutions.
In short, IFCI builds broadband networks for cable operators, and wireless networks for cellular phone and PCS operators. Among IFCI's top 10 customers in fiscal 1999 were AT&T, CableVision, Cox Communications, Level 3 Communications, Next Link and TimeWarner.
If you hire IFCI to help you connect networks, here is what you will get. It will place and splice fiber optic, coaxial and copper cable. It will excavate trenches in which to place the cable. It will install all related structures, such as poles, anchors, conduits, manholes, cabinets and closures. It will place drop lines from the main distribution terminals to the home or business. Finally, it will maintain, remove and replace these facilities.
Under a typical infrastructure development contract, IFCI supplies the expertise, equipment and labor. The customer supplies nearly all materials, such as the fiber-optic cable and conduits.
IFCI has about $12 million in cash, but it has $77 million in long-term debt. Plus it has $57 million in goodwill, which is a worthless asset that must be written off over time, thus depleting earnings.
IFCI continues to offer new shares every year, which is diluting earnings. For example, in 1997 IFCI had net income of $4.7 million. It had 18.6 million shares outstanding (fully diluted), which resulted in earnings of $0.27 per share. In 1999, IFCI had net income of $7.8 million, a 66% improvement over 1997, but it had 29 million shares outstanding. Earnings per share were $0.26 per share in 1999, a penny below 1997, due to the huge increase in shares outstanding. As of the second quarter, IFCI has 34.6 million shares outstanding.
IFCI is currently trading at $19. With the new contracts announced in July, its existing backlog and the potential of the Next Level partnership, I think earnings estimates are way too low.
Current estimates call for earnings of $0.56 per share in 2000 and 48% growth to $0.83 per share in 2001. The 2001 estimate is at least $0.07 per share too low, which puts IFCI at 21 times my estimate of $0.90 per share. That is not very expensive for a company with expected earnings growth in excess of 50%.
(Talk to Tom in his new 'Tom's Bid & Ask' message
|mib - Samstag, 7. Oktober 2000 - 21:04|
| Radio Wallstreet Interview Aired July 24/2000 |
First Security Van Kasper Analyst John D. Froley
Comments on International Fibercom (IFCI)
· Outsourcing phenomena is relatively new and will continue to expand as a result of competitiveness between communications providers to deliver cheaper services by reducing overhead costs of providing infrastructure services in house
· Market is being penetrated deeper and deeper by subcontractors
· U.S. telecommunications revenues in 1999 were 250 billion, of which 30-60% goes to equipment and services investments, this investment is roughly split 60% for equipment and 40% for services, so potential services market is 35 billion
· IFCI is an emerging player, under-followed, overlooked, with significant growth and good management
· Near term target $30, rate a buy
· Core business is presently wireline, wireless will become increasingly important going forward
· Regarding AeroComms’ Ultra Q Filter: waiting for orders to confirm product deployment potential going forward
· Can see 50-100 million in Ultra Q sales in 2-3 years, margins and multiples should increase as investors become more aware of this division
· Growth is rapid, backlog 3q/99 was 60 million, 1q/2000 was 195 million, backlog; [July 25/00 company conference call reported 2q/2000 backlog is 250 million]
· Flat out growth, 3 year projected revenue growth of 40% and earnings of 60% (wireless not in model)
· Unlike competitors IFCI concentrates on large customers and contracts
· Confident in managements ability to execute and manage growth
· IFCI is a leader in its’ industry
· Competition is limited to acquisition of companies, no pricing pressures, lots of work to go around, important to work with companies that can pay their bills and are well funded, IFCI works with the best companies
· As per coming earnings report looking for inline numbers but more importantly positive trends in cash flow and DSO’s
· In future Ultra Q and Wireless Group is what will move this stock
|mib - Sonntag, 8. Oktober 2000 - 01:20|
| LOW PRICED STOCK SURVEY |
Building Bargains in Bandwidth
By Richard MoroneyFri Sep29, 2000 11:15 AM ET
The world will change forever -- and for the better -- once computers, televisions, and new digital devices are online all the time, with high-speed broadband lines providing ready access to video, software, and data-intensive Web pages.
On that much, most experts and consumers agree. But beyond the goals of the broadband revolution, sharp disagreement exists regarding the prospects for making the dream a reality. Consumers have shown nothing but enthusiasm for broadband services, but several telecom-industry experts believe the nation's telecom carriers are building too much capacity.
In a recent study by the Federal Communications Commission, consumers expressed widespread satisfaction with broadband services. The biggest complaint was availability. According to the study, only about one million consumers and small businesses are wired into advanced Internet services, with 875,000 using cable modems and 115,000 using digital subscriber lines.
Hoping to capitalize on consumer demand, telecom carriers and cable operators like AT&T (NYSE: T) and SBC Communications (NYSE: SBC) are aggressively upgrading their networks to provide voice, video, and data communications. Anticipating a surge in traffic, wholesale carriers like Level 3 (Nasdaq: LVLT), Qwest (NYSE: Q), Global Crossing (NYSE: GBLX), Williams Communications (NYSE: WCG), Enron (NYSE: ENE), and Metromedia Fiber (NASDAQ: MFNX) are laying thousands of miles of fiber-optic cable.
But in the rush to expand capacity, many skeptics believe the carriers are creating a fiber glut. Several telecom consultancies have issued bearish forecasts for the industry, with one asserting that the nation's fiber-optic lines will be only half full when current expansion projects are completed. As a result, telecom pricing is expected to deteriorate steadily in coming years.
Wall Street has taken these warnings seriously, and wholesale telecom carriers are trading 25 percent to 50 percent below their highs. Integrated carriers have also been caught in the downdraft, with such quality companies as SBC, BellSouth (NYSE: BLS), and WorldCom (Nasdaq: WCOM) down sharply from their highs.
The selling in these three names appears overdone, and investors looking ahead 12 to 18 months should do well buying at current prices. But there are legitimate reasons to be worried about the pricing environment for telecom carriers, and the purpose of this column is to profile attractive small-cap stocks, not telecom behemoths.
Fortunately, the selling has carried over to the telecom-construction sector, presenting a buying opportunity in two small-cap companies capitalizing on the booming demand for bandwidth. International FiberCom (Nasdaq: IFCI) and Arguss Communications (Nasdaq: ARGX) build networks for telecom carriers. While pricing pressures could cause telecom companies to cut back on capital spending, most carriers realize doing so would put them at a competitive disadvantage. Moreover, the intense competition is encouraging carriers to outsource telecom-construction work.
Arguss builds fiber-optic networks and replaces aging copper and coaxial networks for many leading telecom companies, including AT&T and Time Warner (NYSE: TWX). With the number of residential high-speed Internet subscribers on cable networks expected to grow about 50 percent annually through 2004, Arguss is well positioned for growth. Per-share earnings are estimated at $0.81 for full-year 2000, up nearly 57 percent. For 2001, per-share earnings should reach $1. The company's June-quarter profit margins were the highest since 1997, as new contracts are allowing Arguss to spread overhead across a larger sales base. The stock offers an attractive buy.
International FiberCom installs and maintains fiber-optic, copper, broadband, and wireless communication systems and networks. Steady internal growth and acquisitions have fueled rapid growth. Sales reached $170 million in 1999, up from $36 million in 1997. So far in 2000, the company has been awarded more than $248 million in new contracts. Per-share earnings should reach $0.56 for full-year 2000, up from $0.27. The stock represents a top buy.
Richard Moroney is editor of The Low Priced Stock Survey and Dow Theory Forecasts. He is also co-portfolio manager of the Strong Dow 30 Value no-load mutual fund. A Chartered Financial Analyst, he holds degrees in journalism and economics from Northwestern University and an MBA from the University of Chicago.
|mib - Sonntag, 8. Oktober 2000 - 18:53|
| so, - wer sich etwas mit IFCI beschaeftigen moechte, dem seinen hierr folgende links bzw. postings aus dem IFCI message board von Yahoo! empfohlen: |
For new investors, here are some classic IFCI posts and links:
Article from Individual Investor (9/19/2000 ):
Overview of the company’s potential (6/24/2000): 55184
Introduction to this message board (6/30/2000): 55853
IFCI commentary with emphasis on Aerocomm by tchrt9 (10/7/2000): 68674
Aerocomm possibilities by Spock_Stock (10/7/2000): 68668
Three part outlook on IFCI by bowldogaz (10/2/2000): 67959, 67960, 67961
History lesson on IFCI’s Public Relations by Stagehand_Steve (9/13/2000): 66282
IFCI’s last 5 quarters revenue, earnings, income by Spock_Stock (9/4/2000): 65451
IFCI’s Investor’s Business Daily Trends by bowldogaz (8/18/2000): 63558
Three part commentary on IFCI’s valuation by bowldogaz (8/17/2000): 63517, 63518, 63519
Summary of July conference call by tchrt9 (8/14/2000): 63195
Summary of Kealy interview by tchrt9 (7/27/2000): 61523
Summary of Froley interview by tchrt9 (7/27/2000): 61522
Magoo on IFCI’s Q2 “scramble” (7/26/2000): 61146
Oddbop’s notes on the Q2 Conference Call (7/26/2000): 61139
Research update prepared by tchrt9 (7/22/2000): 60318
Excerpt from a Stifel report on IFCI (7/14/2000): 58801
Comments on recent IFCI contracts (7/14/2000): 58660
Three part commentary on IFCI’s prospects by tchrt9 (reposted on 7/13/2000, originally 4/25/2000): 58177, 58180, 58181
Technical commentary on filtering technology (7/11/2000): 57546
Comments on Aerocomm’s ultra Q filter (7/9/2000): 57309
IFCI’s Business Strategy (7/8/2000): 57237
Predictions for Aerocomm’s potential (7/6/2000): 56729
Good post on Aerocomm’s ultra Q filter (7/2/2000): 56175
About IFCI’s niche in the market (7/2/2000): 56142
Trading vs. Investing (6/25/2000): 55234
More on Aerocomm (6/24/2000): 55175
Ultra Q specs (6/23/2000): 54959
On IFCI’s acquisitions (2/25/2000): 40000
On IFCI’s customers (2/24/2000): 39822
IFCI’s contracts (2/23/2000): 39515
Vcall link for IFCI (press releases, conference calls, etc.)
Article from Streetside Investor
MoneyCentral Data on IFCI:
Revenue, Profit and Valuation Scenarios for Aerocomm
On the light side:
IFCI’s jingle by starbucks_luck: http://www.dole5aday.com/JUKE/JBFIBER.WAV
The IFCI Investor’s Theme song (7/10/2000): 57390
|mib - Montag, 9. Oktober 2000 - 15:12|
| fuer's Auslandsdepot nachgekauft: |
100 Stk., IFCI zu 15.00 Eu
|mib - Freitag, 13. Oktober 2000 - 15:35|
| Der Nachkauf war offensichtlich ein schwerer Fehler. Heute warnt IFI, - da hatten offensichtlich einige Leute wieder etrwas frueher als andere gewusst, woher der Wind weht.... |
Friday, October 13, 2000
IFCI warns of Q3 shortfall
--7:54 am - By Tomi Kilgore
International FiberCom (IFCI: news, msgs) said that it expects to report third-quarter earnings per share between 8 and 10 cents, below the average analyst estimate compiled by First Call of 16 cents a share. The telecommunications services provider blamed higher-than-anticipated research and development costs and other expenses incurred to support internal expansion for the expected shortfall. "We have had to ramp-up and invest heavily in recruiting, training and mobilizing new facilities in our new markets to fulfill contracts and support both wired and wireless opportunities in those markets for some of our key customers," said Joseph Kealy, FiberCom's chairman and chief executive. Kealy added that revenue and backlog were growing faster than expected "in every area" of its business. IFCI closed up 6 cents at $11.94 on Thursday.
|soleneve - Montag, 16. Oktober 2000 - 10:32|
| Immer das gleiche Problem. Die Zahlen sind gut, aber nicht so hoch wie die "Consensus Estimate" der Analysten. Hier kommt dazu, daß dieser Consensus wohl nur auf wenig einzelnen Schätzungen beruht, da auch nur vergleichsweise wenig Analysen zu IFCI vorliegen. |
|mib - Montag, 16. Oktober 2000 - 15:01|
| ja, - IFCI ist immer noch wert, Zeit zu investieren.... |
Die zusaetzlichen Aufwendungen fuer R&D (hier waere es wichtig zu wissen, ob ueberwiegend R oder D!), um die Nachfrage zu befiredigen ist ja grundsaetzlich kein schlechtes Zeichen. Die Bewertung hat wirklich moderate Formen angenommen und das Marktsegment, in dem IFCI taetig ist, sollte auch weiterhin boomen. Ich werde den conference call abwarten und dann entscheiden, was weiter passieren soll. Ich bin aber grundlegend noch immer sehr positiv fuer IFCI eingestellt und halte den Absturz von 22 auf 12 $ und dann nach der Warnung am Freitag um weitere 22% auf 9 $ fuer masslos uebertrieben.
|mib - Montag, 16. Oktober 2000 - 15:45|
| heute (Montag): |
First Security Van Kasper:
upgrade von 'buy' auf 'strong buy' mit Kursziel 35$
|soleneve - Montag, 16. Oktober 2000 - 16:35|
| Stimmt, aber das scheinen seit dem Sommer die einzigen zu sein, die IFCI systematisch beobachten. |
|mib - Montag, 16. Oktober 2000 - 18:04|
|stimmt, - aber wenn sich das aendert... :-)))|
|mib - Dienstag, 19. Dezember 2000 - 04:12|
| IFCI stuerzt nach Gewinnwarnung ins Bodenlose... |
...es macht allmaehlich keinen Spass mehr... :-(
|chinaman - Montag, 8. Januar 2001 - 05:09|
| Vielleicht ist IFCI eine der Aktien, bei denen sich durchhalten bezahlt macht. Mib hat sie ja nun im Auslandsdepot auf hold downgegradet. Was ist eigentlich der Grund dafür, mib ??? |
Anbei ein sehr interessanter Artikel zu IFCI, die Aktie bleibt auf meiner Watchlist.
Picks, Shovels, and The Communications Explosion by Dale Baker back
In the great California Gold Rush of 1849, a few miners struck it rich, and a lot of others spent years swirling dirt around a frying pan for nothing.
Who made the most money? The merchants who sold the miners all the supplies they needed– the picks, the shovels, the tents, and all the other boring junk you need to survive out in the wilderness.
One of the best “picks and shovels” plays in the blazing fiber optics and wireless sector is International Fibercom (NASDAQ:IFCI).
An IFCI critic on Silicon Investor derisively called IFCI “ditch diggers.” Snap analysis is a good way to miss substantial profits in tech stock investing.
IFCI is a network builder and component supplier in one of the highest growth niches around. At $25 or so, it is also a great value play.
How often can you buy growth and value in the same stock?
IFCI grew revenues 70% from 1998 to 1999. So far this year, IFCI registered more than 100% year over year sales growth in the March quarter. EPS growth was 40%, from $0.08 to $0.11; FY2000 estimates of $0.57 are more than double 1999’s $0.27 earnings.
Crunch the numbers – 100% growth and a PE of 50 on this year’s estimated EPS. Throw in next years estimated $0.83 and you get a forward PE of 30. Can you say cheap? IFCI could make more than $1.00 EPS in FY2001 if current sales growth and margins hold up.
Look at IFCI in price-sales terms. If IFCI does $300 million in sales this year, they are trading at less than 3 times FY2000 revenue. That is ridiculous. Wireless Facilities (NASDAQ:WFII) trades at 15 times this year’s likely sales.
Imagine you are a big telecommunications or cable TV company with a steadily growing network. You can maintain thousands of employees (with all those overhead costs) to plan and build out your network, or you can outsource the whole job to an outfit like IFCI.
This is exactly what blue-chip companies like AT&T (NYSE:T), PF.Net, Cox Communications (NYSE:COX), Level Three (NASDAQ:LVLT), Cablevision (NYSE:CVC), Next Link (NASADQ:NXLK) , Time Warner (NYSE:TWX) and Adelphia (NASADQ:ADLAC) are doing. These companies were International Fibercom’s top customers last year.
“Development and Services” revenue more than doubled from $65 million to $136 million in 1999.
By their April 2000 conference call, IFCI already had a backlog greater than 1999 revenues. Since then, they announced an additional $100 million in contracts. The demand for communications networks is insatiable. Altogether, IFCI has announced more than $200 million in new business so far this year.
IFCI recently bought Premier Cable Communications, an installation firm with more than 300 technical staff members. Internal growth, great products and growth through acquisitions – that is how you stay ahead in today’s competitive technology field.
IFCI also bought wireless equipment company Aerocomm, whose Ultra-Q filters keep external signals out of a network and strengthen the main signals you want.
IFCI announced, “fourteen companies in the telecommunication and utility industries, with a total of more than 4,600 potential deployment sites, are beta testing the Ultra-Q filter.”
IFCI Chairman & CEO Joseph Kealy commented: ``These initial shipments are a validation by major companies in the telecommunication and utility industries of AeroComm's proprietary wireless technology. With the rapid deployment of wireless devices throughout North America, the number of different signals is increasing exponentially. These signals attack one another, weakening a desired signal and decreasing its range and effectiveness. AeroComm's Ultra-Q filter effectively eliminates interference from all other frequencies, enhancing the strength, quality and range of the desired frequency.''
The Aerocomm filter is cheap, programmable and the size of a cigarette box. This makes deployment easy for the growing number of wireless communications operators in the US.
Whenever you research a company with lots of infrastructure costs, you need to look at their debt situation. IFCI paid $1.3 million in net interest in the first quarter of 2000, out of $6.7 million in operating earnings. Even after taxes, they added more than $5 million to their balance sheet (minus depreciation). There are no cash flow problems there.
With gross margins at 30%, believe me when I tell you this is much, much more than a “ditch digging” company. Ditch diggers do not hold patents for underground cellular antennas or offer end-to-end deployment of advanced fiber optic voice, video and data networks.
The chart may put off new investors in IFCI; no one likes to see a good stock cut in half. However, many quality tech stocks were chopped off at the knees in the spring selloff. The earlier spike to $38 per share is a better indication of IFCI’s true value than the plunge to the low teens.
In fact, go back to October 1999 and draw a straight line to last Friday’s closing price. Leave out the March spike and you have a perfect 45-degree upward slope in the chart, just the kind I love to buy and hold.
I cannot complain about the April volatility since it let me buy my first lot of IFCI at 18 and double down at 12. With a cost basis at 15, I already have a tidy profit in IFCI.
However, I will not be selling my IFCI for a long time, if they continue to execute. IFCI has projected $300 million sales this year is worth a market cap of at least $2 billion, or a share price of 75, in my opinion. My short-term target is a move to 50 as the Street catches on to what IFCI is really worth.
The high-octane fiber optics plays are great. Just do not forget the picks and shovels companies like IFCI that fatten your wallet, and let you sleep well at night too.
Dale Baker is currently a fund manager for Internet Asset Management in Zurich. At the time of publication he owned or controlled positions in the following securities mentioned in this column: International Fibercom. The information in this column under no circumstances serves as a
recommendation to buy or sell stocks.
|mib - Dienstag, 23. Januar 2001 - 15:41|
| sieht so aus,als wenn viele institutionelle Anleger (inkl. Merrill Lynch!!!) den Kurseinbruch bei IFCI als gute Kaufgelegenheit einstufen: |
|soleneve - Dienstag, 23. Januar 2001 - 16:26|
| Eine hochinteressante Seite! Danke für den Hinweis. Gibts so was auch für deutsche Titel? |
|mib - Dienstag, 23. Januar 2001 - 16:35|
|nicht, dass ich wuesste...|
|chinaman - Montag, 2. April 2001 - 17:09|
| IFCI verliert heute wegen der anhängenden Meldung über 25 %. Da ist mib rechtzeitig ausgestiegen. |
International FiberCom Comments on First Quarter, Expects
International FiberCom Comments on First Quarter, Expects Continued Losses From California Operations to Offset Targeted First Quarter Results, Looks to Focus Its Wired and Wireless Strategic Plan, Maintains Record $300 Million Backlog PHOENIX, April 2 /PRNewswire/ -- International FiberCom, Inc. (Nasdaq: IFCI) said today that it expects to report revenue for its first quarter ended March 31, 2001, of approximately $77.5 million to $80.0 million, with a loss from operations of between $0.06 and $0.07 per diluted share, caused by continued difficulties in its California operations. The Company expects first quarter earnings from its non-California operations of between $0.03 and $0.04 per diluted share before losses of approximately $0.10 per diluted share in California, which includes a reserve of $2 million for future losses that may be incurred as the Company winds down existing projects and transitions its California operations back to profitability. For the first quarter of 2000, the Company reported revenues of $59.6 million with earnings per diluted share of $0.11. The Company plans to release final results for the first quarter on or about April 26, 2001. International FiberCom Chairman and CEO Joseph P. Kealy said, "We encountered additional, unexpected contract, field execution and management problems in completing certain outside plant projects at our two primary California operating points of presence. Even so, we expect that our first quarter revenues will be up over 30 percent from last year's first quarter because of the strong growth and demand for our services and products in our diversified wired and wireless divisions. Further, we achieved this during a quarter in which many telecommunications companies were reducing their spending in certain areas, while increasing it in others, such as fulfillment, central office and other projects related to network revenue production. We continue to follow very carefully the needs of our customers in this regard and our newly established Wireless services and Fulfillment and Central Office services groups are experiencing increasing demand. This is reflected in our continued strong backlog which remains near $300 million." Kealy continued, "While we are disappointed with our overall first quarter performance, it has caused us to reevaluate our businesses and accelerate some strategic initiatives that we began in January to concentrate on our wired and wireless strategic plan. We have made a number of field and supervisory management changes in California and elsewhere, reduced our workforce, trimming approximately 10 percent of our employees, added new top management in our Wired Services Division, including a highly experienced project bidding manager with authority over all bidding and estimating activities, and implemented new stringent cost controls and cash flow management procedures. While revenue growth will continue, given the investment we are making in new businesses initiatives and general economic uncertainty, we believe revenues and earnings may be 10 percent to 15 percent lower than previously expected for the balance of the year." The Company also announced that as part of its reevaluation, it is considering other alternatives to focus its wired and wireless strategic plan, including the potential disposition of its Equipment Distribution Division. Benefits of a potential disposition include freeing up working capital now committed to inventory, allowing the Company to direct its resources to strategic growth initiatives, including the recently established Wireless services and Fulfillment and Central Office services groups. Due to significant goodwill related to the Equipment Distribution Division and other factors, a disposal could result in a one-time, non-operating charge of between $15 million and $20 million. As a result of the expected first quarter operating loss, the Company anticipated that it might be in violation of certain financial covenants in its primary credit facility. In response, the Company has obtained a waiver from its lenders and is currently negotiating a permanent amendment to its credit agreement. International FiberCom has scheduled a conference call with analysts and investors to discuss this announcement. The call is scheduled for 11:00 AM EDT today, Monday, April 2, 2001 and will be broadcast live over the Internet at www.prnewswire.com. About International FiberCom International FiberCom is a leading end-to-end solutions provider for the telecommunications industry, offering a broad range of engineering-based solutions designed to enable and enhance voice, data and video communications through fixed and wireless networks. The Company designs, deploys, and manages internal and external networks infrastructure for leading wireline, wireless and broadband telecommunications providers in the U.S. and the United Kingdom. This news release contains certain forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements, by their very nature, include risks and uncertainties. Accordingly, the company's actual results could differ materially from those discussed in this release. A wide variety of factors could cause or contribute to such differences and could adversely impact revenues, profitability, cash flows and capital needs. Such factors, many of which are beyond the control of the Company, include the following: the Company's success in obtaining new contracts; the volume and type of work orders that are received under such contracts; the accuracy of the cost estimates for projects; the Company's ability to complete its projects on time and within budget; levels of, and ability to collect accounts receivable; availability of trained personnel and utilization of the Company's capacity to complete work; the Company's ability to complete proposed acquisitions and, upon their completion, to integrate the acquisitions into its organization and manage its growth; competition and competitive pressures on pricing; the Company's success in marketing its wireless products and services; and economic conditions in the United States and in the regions served by the company. A more complete listing of cautionary statements and risk factors is contained in the Company's report on Form 10-K for the year ended Dec. 31, 2000 filed with the Securities and Exchange Commission. For further information please contact investors, Joseph Allen, 212-691-8087, firstname.lastname@example.org, or Jill Cieslak, 949-474-4300, email@example.com, or media, Kari Rinkeviczie, 616-647-0780, firstname.lastname@example.org, all for International FiberCom, Inc. SOURCE International FiberCom, Inc. -0- 04/02/2001 /CONTACT: investors, Joseph Allen, 212-691-8087, email@example.com, or Jill Cieslak, 949-474-4300, firstname.lastname@example.org, or media, Kari Rinkeviczie, 616-647-0780, email@example.com, all for International FiberCom, Inc./ -- LAM091 -- 1985 04/02/2001 07:30 EDT http://www.prnewswire.com Copyright PR Newswire 2000. All rights reserved
|chinaman - Mittwoch, 4. April 2001 - 16:16|
| Der Ausblick von IFCI |
Intl FiberCom cuts outlook for Q1, rest of year
NEW YORK, April 2 (Reuters) - International FiberCom Inc. <IFCI.O> on Monday said it expects to post a first-quarter loss from operations due to problems in its California business, and warned that its revenues and earnings for the rest of the year may be 10 percent to 15 percent lower than previous expectations.
International FiberCom, which designs and installs networks for wireline, wireless and broadband telecommunications service providers, said it may be in violation of certain financial covenants in its credit agreement. It said it obtained a waiver from its lenders and is in talks to get a permanent amendment to the credit pact.
The Phoenix-based company expects to report a loss from operations of about 6 cents to 7 cents a share on revenues of $77.5 million to $80.0 million. In the year-ago quarter, the company earned 11 cents a share on revenues of $59.6 million.
Wall Street analysts had expected the company to post a profit of 3 cents a share in the first quarter ended March 31, 2001, according to research firm Thomson Financial/First Call.
Shares of International FiberCom lost $1-1/16, or 27 percent, to $13/16 in late morning trading on Nasdaq. The stock has fallen about 88 percent over the past year, and underperformed the Nasdaq Composite Index by about 60 percent.
"We encountered additional, unexpected contract, field execution and management problems in completing certain outside plant projects at our two primary California operating points of presence," said International FiberCom Chairman Joseph Kealy. It said its order backlog is about $300 million.
"While revenue growth will continue, given the investment we are making in new businesses initiatives and general economic uncertainty, we believe revenues and earnings may be 10 percent to 15 percent lower than previously expected for the balance of the year," he said.
Analysts had expected the company to earn 40 cents a share for the full year, according to First Call.
International FiberCom said it changed field and supervisory managers in California, added new management in its wired services division, and cut about 10 percent of its work force. Additional details were not immediately available.
It also said it may dispose of its equipment distribution division, which would free up working capital and all the company to focus on growth initiatives such as its wireless services, fulfillment and central offices services units.
The disposal of the equipment distribution division could result in a one-time, non-operating charge of between $15 million and $20 million. Additional details were not available.
International FiberCom said it will release its first-quarter results on or about April 26.