CHARLTON, Mass., July 10 /PRNewswire/ -- FiberCore, Inc. (Nasdaq: FBCE), a
leading manufacturer and global supplier of optical fiber and preform for the
telecommunication and data communications markets, today announced that it
received a multi-year contract from an existing customer valued at
approximately $18 million, a portion of which is guaranteed under a "take or
pay" arrangement.
The contract is primarily for multimode fiber, but also includes high
performance GigaGrade(TM) and single-mode fiber. Product is scheduled to be
shipped during 2002 through the end of 2004 from the Company's German
production facilities and has been added to backlog which, excluding this
contract, has grown from a record $260 million at the end of March 2001 to
over $300 million at the end of June 2001.
Commenting on the contract, Bob Sebesto, Vice President of Global Sales
and Marketing said, "Our multimode fiber continues to gain acceptance with
many of the world's leading independent cablers because of its superior
performance, particularly in tight buffer cable constructions that require
fibers with minimal bend sensitivity. These superior performance
characteristics as well as our strong customer relationships have enabled us
to continue to grow our backlog. This is particularly gratifying in light of
recent weakness in other sectors of the fiber optic market. A further reason
for our continued growth is that we sell our fiber primarily into the global
data communications and access markets rather than into the U.S. telecom long
haul sector, which is experiencing a major slowdown."
The Company also confirmed today that it recently joined the Russell
3000(R) Index. Index membership became effective on July 1 and will remain in
place for a minimum of one year.
FiberCore, Inc. develops, manufactures, and markets single-mode and
multimode optical fiber preforms and optical fiber for the telecommunications
and data communications markets. In addition to its standard multimode and
single-mode fiber, FiberCore also offers various grades of fiber for use in
laser-based systems, to help guarantee high bandwidths and to suit the needs
of MAN (metropolitan area networks), Fiber-to-the Curb, Fiber-to-the Home and
Fiber-to-the Desk applications. Manufacturing facilities are presently
located in Jena, Germany and Campinas, Brazil.
For more information about the company, its products, or shareholder
information please visit our Website at: http://www.FiberCoreUSA.com or contact us
at: Phone - 508-248-3900 or by FAX - 508-248-5588 or E-Mail:
sales@FiberCoreUSA.com ; investor_relations@FiberCoreUSA.com
Except for the historical matters discussed above, the statements in this
press release are forward looking and are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995. They are
based on the Company's current expectations and are subject to a number of
risks and uncertainties. Actual results may differ materially from those
projected as a result of certain general economic and business conditions;
loss of market share through competition; introduction of competing products
by other companies; changes in Industry capacity; pressure on prices from
competition or from purchasers of the Company's products; availability of
qualified personnel; the delivery of an ability to commission new equipment as
scheduled; ability to obtain required financing; dependence on a limited
number of raw material suppliers; the loss of any significant customers; and
other factors detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
SOURCE FiberCore, Inc.
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Related links:
http://www.FiberCoreUSA.com
CONTACT:
Dr. Mohd A. Aslami, President and CEO, or
Steven Phillips, CFO, both of FiberCore, Inc., 508-248-3900, or
General Info., Alison Ziegler, Analyst Info., Peter Seltzberg, or
Media Info., David Closs, all of The Financial Relations Board
BSMG Worldwide, 212-445-8000
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