Fort Worth, Texas, Feb. 4, 1999 (PRIMEZONE) -- FWT, Inc., a leading designer, manufacturer and marketer of wireless communication infrastructure products, today announced that, based on January sales and orders, it is receiving strong support for its new business plan. During the month of January, the company reported that it had received new orders from most major wireless communications carriers.
"We are gratified by the continuing vote of confidence we are receiving from our long-time customers, vendors and employees," said Tracy Reeves, vice president of client services.
FWT recently announced that it has made numerous operational and management changes while focusing its business to better serve customers and improve profitability. Among the changes, the company has eliminated employment positions not associated with its core business and amended its existing revolving credit facility to provide for the availability of up to $15.0 million.
"The customer, vendor and employee support we have received confirms our belief that a re-positioned, more focused company is a stronger and more capable company," said Mr. Reeves. "For nearly half a century, FWT has led the way in designing and manufacturing durable towers. We believe our reputation for reliability and competitive pricing, as well as our complete product line, have given us a foundation of competitive strength."
FWT representatives will attend CTIA's Wireless '99, Feb. 8-10, in New Orleans, Louisiana. Visit FWT at booth 2947.
Founded in 1959, FWT, Inc. is based in Ft. Worth, Texas. The Company's products are used in the cellular, PCS, enhanced specialized mobile radio, paging radio and television broadcasting, fiber optics and microwave industries. FWT designs, manufacturers, and markets a complete line of communications infrastructure products including towers, monopoles, guyed and self-supported towers, disguised sites, communication sites on wheels, shelters and cabinets. The Company has more than 14,000 installations worldwide.
Forward-looking statements herein are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such because the context of the statement will include words such as the Company "believes," "expects," "anticipates," or words of similar import. Similarly, statements that describe the Company's future plans, objectives, estimates or goals are forward-looking statements. Certain important factors could cause results to differ from those anticipated by the forward-looking statements made herein, including high level of and restrictions imposed by debt, ability to implement management initiatives, dependence on the wireless communications industry, concentration of customers, fluctuations in quarterly results and competition. All persons are directed to the information contained under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations - Risk Factors" in the Company's latest Form 10-Q.