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Wireless
Facilities, Inc.
Wireless
Facilities Comments on Metricom News
SAN DIEGO, CA Ð July 2, 2001 - Wireless Facilities, Inc. (WFI)
(NASDAQ: WFII), a global leader in the planning, design, deployment
and management of wireless voice and data networks, today said that
one of its former customers, Metricom, Inc. (NASDAQ: MCOM), has
filed for bankruptcy protection. On February 23, 2001, WFI publicly
announced that it had received notice of contract suspension and
termination from Metricom for WFI's engineering and deployment services.
In
response to the Metricom bankruptcy filing, the Company anticipates
that it will take a one time charge and reserve for the entire Metricom
receivable of $13.6 million in the second quarter of fiscal 2001.
The Company reiterates its earlier guidance that no material revenues
from Metricom were anticipated in the second half of the year.
Commenting
on the news, WFI President Tom Munro said, "Despite several broadband
wireless carrier bankruptcies, the basic fundamentals of mobile
wireless telephony remain encouraging for the long-term. Growth
in net subscriber additions and growth in subscriber minutes of
use were strong in the most recently reported period and we believe
this bodes well for future infrastructure investments to support
demand for 2G wireless voice services alone. In addition to this,
the decision by wireless carriers to provide consumers and business
customers with always-on data services over enhanced networks late
this year or next year, should help create increasing demand for
network design and deployment services."
About
Wireless Facilities
A global leader in telecommunications outsourcing, Wireless Facilities,
Inc. designs, deploys and manages wireless networks for some of
the largest cellular, PCS and broadband wireless carriers and equipment
suppliers worldwide. Specializing in network architecture and dimensioning
of mobile and high speed wireless data systems, including third
generation (3G) networks, WFI provides a complete range of network
services Ð from business and market planning to RF engineering,
fixed network engineering, IP and data engineering, site acquisition
and development, installation, optimization and maintenance. Headquartered
in San Diego, WFI has grown to more than 2,000 employees and has
performed work in over 100 countries since the company was founded
in late 1994. The company has offices in Dallas, Chicago, Seattle,
Reston VA, Montvale NJ, London, Gothenburg, Frankfurt, Madrid, Mexico
City, S‹o Paulo and New Delhi. News and information are available
at www.wfinet.com.
Notice
Regarding Forward Looking Statements
This news release contains certain forward-looking statements that
involve risks and uncertainties. The Company operates in a very
dynamic market environment, and expectations or assumptions that
appear reasonable as of the date hereof may not be reasonable at
any point in the future. Words such as "anticipates," "expects,"
"projects," "intends," "plans," "believes," "may," "will," and similar
expressions are intended to identify forward-looking statements
and specifically include references to the Company's belief that
the wireless industry's long-term fundamentals remain strong for
the Company's services and that the Company can continue to execute
its business plan well in relation to the market opportunities.
Such statements are only predictions, and the Company's actual results
may differ materially from those anticipated. Factors that may cause
such differences, include, but are not limited to: slowdowns in
telecommunications infrastructure spending which could delay network
deployment and reduce demand for the Company's services; the Company's
ability to hire and retain key personnel; the rate of adoption of
telecom outsourcing by network carriers and equipment suppliers;
the timing, rescheduling or cancellation of significant customer
contracts and agreements, or the loss of key customers; continuing
industry investment in next-generation wireless deployments; competition
in the marketplace which could reduce revenues and profit margins;
lower customer satisfaction levels for services performed by the
Company. These factors and others are more fully discussed under
"Risk Factors" and elsewhere in the Company's registration statement
on Form S-1, the Company's annual report on Form 10-K filed on March
29, 2001 and the Company's Form 10-Q filed on May 15, 2001 with
the Securities and Exchange Commission.
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