ELMWOOD PARK, N.J., April 9, 2007 (PRIME NEWSWIRE) -- Berliner Communications, Inc. (OTCBB:BERL) ("Berliner") announced today that it has increased its line of credit with Presidential Financial Corporation of Delaware ("Presidential") from $2.5 million to $8.0 million. Berliner began its relationship with Presidential in 2003, and in addition to increasing the existing line, Presidential has agreed to lower its interest rate on borrowings under the line and reduce certain fees and other charges.
"I am pleased to continue our long-standing relationship with Presidential," said Rich Berliner, Berliner's CEO. "Presidential has been a solid business partner for us for many years, and they have shown us they have the flexibility and resources to meet our expanding business needs. We intend to use these additional resources to support the growing demands of our customers, and to continue to implement our acquisition strategy."
About Berliner Communications, Inc.
Berliner Communications, Inc. and its wholly owned operating subsidiary, BCI Communications, Inc., are headquartered in Elmwood Park, New Jersey. BCI is an end-to-end provider of outsourced services for the wireless communications industry, including planning, deployment and management of network build-outs. BCI provides wireless carriers with comprehensive real estate site acquisition and zoning services, radio frequency and network design and engineering, infrastructure equipment construction and installation, radio transmission base station modification and project management services. For more information about Berliner's services, please visit http://www.bcisites.com.
The statements in this press release, which are not historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, without limitation, statements regarding our future prospects, the ability to achieve our sales and profitability goals, our perception of future industry trends and the potential positive impact our business prospects, and other such statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from our expectations. Such risks and uncertainties include, without limitation, risks detailed in our filings with the United States Securities and Exchange Commission, the risk that future trends we have identified do not materialize or if they materialize that they do not have the beneficial effect we anticipate, as well as the risk that we will not be able to achieve our sales and profitability goals. All forward-looking statements in this document are made as of the date hereof, based on information available to us on the date hereof, and we disclaim any intention or obligation to revise any forward-looking statements, including, without limitation, financial estimates, whether as a result of new information, future events or otherwise.