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Address: 4810 Eastgate Mall San Diego, CA 92121 USA
Phone: (858) 228-2000
Business Description: Not Available
Primary State of Incorporation: Delaware
Country of Incorporation: USA
Officers: Massih Tavebi, CEO; Masood K. Tayebi, President; Thomas A . Munro, CFO
Fiscal Year End: December 31
Edgar Filing Status: Current EDGAR Filer
Outstanding Shares: 73,881,260 as of 2006-05-04
Estimated Market Cap: Not Available Number of Shareholders of Record: 269 as of 2006-04-03
Current Capital Change:
Class Notes: New Issue=11-99 4,000,000 shs at $15 by Credit Suisse First Boston et al.
Transfer Agent: Wells Fargo Shareholder Services (Minneapolis, MN), South St. Paul, MN 55101
WFII - WIRELESS FACILIT (NASDAQ)
Date Open High Low Last Change Volume % Change 02/02/07 2.35 2.39 2.35 2.37 -0.01 88563 -0.42%
Composite Indicator Trend Spotter TM Sell
Short Term Indicators 7 Day Average Directional Indicator Sell 10 - 8 Day Moving Average Hilo Channel Hold 20 Day Moving Average vs Price Hold 20 - 50 Day MACD Oscillator Sell 20 Day Bollinger Bands Hold
Short Term Indicators Average: 40% - Sell 20-Day Average Volume - 425895
Medium Term Indicators 40 Day Commodity Channel Index Hold 50 Day Moving Average vs Price Sell 20 - 100 Day MACD Oscillator Hold 50 Day Parabolic Time/Price Sell
Medium Term Indicators Average: 50% - Sell 50-Day Average Volume - 568596
Long Term Indicators 60 Day Commodity Channel Index Hold 100 Day Moving Average vs Price Hold 50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 33% - Buy 100-Day Average Volume - 536274
Overall Average: 32% - Sell
Price Support Pivot Point Resistance
2.38 2.35 2.38 2.41
Wireless Facilities Inc
Industry: Wireless Equipment Add Security to your Watch List
02/02 12:59 NASDAQ GS Currency: USD
Price 2.370 Change -0.010 % Change -0.420 Bid 2.370 Ask 2.380 Open 2.350 Volume 92,036 High 2.390 Low 2.350 52-Week High 5.56 (02/17/06) 52-Week Low 1.85 (08/14/06) 1-Yr Return -55.535%
Earnings Past 12 Months -0.115 Quarter Est. EPS(12/06) 0.01 Quarter Est. EPS(03/07) 0.03 Year Est. EPS(12/06) -0.02 Price/Earnings (Trailing) N.A. Relative P/E N.A. Earnings Growth Rate -110.400 Estimated P/E -142.800
Shares (Millions) 73.884 Market Cap (Millions) 175.105 Float (Millions) 53.594 Return on Equity 1.641 Short Interest 3,082,500.000 Last Dividend Reported N.A. Dividend Yield (Trailing 12mo.) N.A. Relative Dividend Yield N.A.
Jan 19, 2007 5:40:31 AM
Jan 19, 2007 (M2 EQUITYBITES via COMTEX News Network) --
WFI (Nasdaq: WFII), a provider of wireless communication networks, information technology solutions and security systems, announced on Thursday (18 January) that the company had been selected by NUWC Keyport to provide administrative support services to the Naval Undersea Warfare Centre Division (NUWC) in Keyport, Washington.
WFI and its team-mate INDUS, a provider of professional and IT services for the Department of Defence and other government agencies, will provide the support services under a task order which has a total potential value of approximately USD9m.
The task order consists of a one-year base period and four one-year option periods.
According to WFI, the company's portion of the contract value is estimated to be approximately USD4m.
Under the task order WFI and INDUS will work collaboratively through a variety of organisational sectors. The companies will support NUWC, Keyport in accomplishing its overall mission of antisubmarine warfare and undersea warfare.
The present task order is reportedly WFI's third award to support NUWC in the last eighteen months.
Comments on this story may be sent to admin*m2.com
Wireless Facilities Inc. 4810 Eastgate Mall San Diego, CA 92121 United States - Map Phone: 858-228-2000 Fax: 858-824-2928 Web Site: http://www.wfinet.com
DETAILS Index Membership: N/A Sector: Technology Industry: Diversified Communication Services Full Time Employees: 2,300
BUSINESS SUMMARY Wireless Facilities, Inc. provides outsourced engineering and network deployment services, security systems engineering and integration services, and other technical services primarily to the wireless communications industry, the United States government, and enterprise customers in the United States. The company operates in three segments: Wireless Network Services, Enterprise Network Services, and Government Network Services segment. The Wireless Network Services include network planning, which comprises of business consulting services for all predeployment planning, including technology assessment, market analysis, and business plan development; network design and deployment services, which include a range of services for the design and deployment of wireless networks, such as radio frequency engineering, spectrum relocation, fixed network engineering, site development, and installation and optimization services. It also provides network management and optimization services comprising of postdeployment radio frequency optimization services, and network operations and maintenance services. Enterprise Network Services segment provides system design, deployment, integration, monitoring, and support services for enterprise networks. In addition, it offers solutions that combine voice, data, electronic security, and building automation systems with fixed or wireless connectivity solutions. The Government Network Services segment serves the federal information technology services market, which includes the design, development, deployment, integration, and management of communications and information networks. Wireless Facilities was co-founded by Massih Tayebi in 1994. The company is headquartered in San Diego, California.
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Related Quotes Sym. Price Chg. WFII Trade News 1.99 0 LCCI Trade News 4.24 0 WFI Announces Agreement to Sell EMEA Business to LCC International
Mar 9, 2007 08:00:00 (ET)
SAN DIEGO, March 9, 2007 /PRNewswire-FirstCall via COMTEX/ -- WFI (WFII, Trade ), a leader in the design, deployment and management of wireless communication networks, information technology solutions and security systems, announced today that it has signed a definitive agreement with LCC International (LCCI, Trade ) to sell WFI's entire Europe, Middle East and Africa (EMEA) business in a cash for stock transaction valued at $4 million. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2007.
This transaction allows WFI to focus on a number of domestic opportunities and business initiatives, such as:
* Allowing WFI to place greater focus on the growing domestic opportunities arising from the Advanced Wireless Services (AWS) spectrum auction in the United States
* Minimize risk by exiting business where WFI does not already have a substantive business with critical mass
* Further leverage WFI's domestic operations to maximize efficiency
* Improve WFI's free cash flow and liquidity
"The sale of WFI's EMEA business is consistent with our strategy to focus our business even more directly on the growing domestic opportunities in our industry," said Eric DeMarco, president and CEO of WFI. "LCC has an established critical mass in Europe that can more effectively support a profitable operation in this region. This business has made notable achievements, including significantly diversifying both its geographic reach and customer base, and I want to thank our employees for their dedication and efforts. Now, by divesting of this business, WFI can dedicate even more of its resources on pursuing the opportunities arising from the AWS Spectrum Auction, as well as other profitable growth areas in the U.S. market. Additionally, this transaction will improve WFI's free cash flow and overall liquidity as we pay down debt, another aspect of our transition strategy."
WFI's EMEA business operation is headquartered in Guilford, England, just outside of London, and includes additional regional offices located in France, Sweden, Turkey, Austria and Egypt.
In accordance with SFAS No. 144, "Accounting for the Impairment or Disposal of Long Lived Assets," WFI's EMEA operations will be treated as discontinued operations in WFI's financial statements for the fourth quarter and full year ended December 31, 2006. In addition, all prior year presentations are required to be reclassified to reflect the discontinued operations. WFI does not currently expect the divestiture costs related to this discontinued operation to be material. The employees associated with WFI's EMEA operations will become employees of LCC under the new ownership.
Headquartered in San Diego, CA, WFI is an independent provider of systems engineering, network services and technical outsourcing for the world's largest wireless carriers, enterprise customers and for government agencies. WFI provides the design, deployment, integration, and the overall management of wired and wireless networks which deliver voice and data communication, and which support advanced security systems. WFI has performed work in over 100 countries since its founding in 1994. News and information are available at www.wfinet.com . (code: WFI-mb)
Notice Regarding Forward-Looking Statements
This news release contains certain forward-looking statements including, without limitation, expressed or implied statements concerning the WFI's expectations regarding the closing of the divestitures of its EMEA, the financial statement impacts of the divestiture, future financial performance and cash flows and market developments that involve risks and uncertainties. Such statements are only predictions, and WFI's actual results may differ materially. Factors that may cause WFI's results to differ include, but are not limited to: risks that the planned sale of the EMEA and/or South American operations will not be completed as anticipated; risks that the actions announced today will have an adverse impact on the performance or morale of employee personnel or on customer relations; risks that the anticipated benefits of the divestiture will not be achieved; changes in the scope or timing of WFI's projects; changes or cutbacks in spending by the U.S. Department of Defense, which could cause delays or cancellations of key government contracts; slowdowns in telecommunications infrastructure spending in the United States and globally, which could delay network deployment and reduce demand for WFI's services; the timing, rescheduling or cancellation of significant customer contracts and agreements, or consolidation by or the loss of key customers; failure to successfully consummate acquisitions or integrate acquired operations; the rate of adoption of telecom outsourcing by network carriers and equipment suppliers; the rate of growth of adoption of WLAN and wireless security systems by enterprises; and competition in the marketplace which could reduce revenues and profit margins. WFI undertakes no obligation to update any forward-looking statements. These and other risk factors are more fully discussed in WFI's Quarterly Report on Form 10-Q for the period ended September 30, 2006 and in other filings made with the Securities and Exchange Commission.
Press Contact: Mike Banas Ashton Partners 312-553-6704 Direct
Investor Contact: Regina Hoshimi Ashton Partners 877-934-4687 investor*wfinet.com
Press, Mike Banas, +1-312-553-6704, or Investors, Regina Hoshimi, +1-877-934-4687, investor*wfinet.com, both of Ashton Partners, for WFI
March 9 (Reuters) - Wireless Facilities Inc. (WFII.O: Quote, Profile , Research) said it agreed to sell its Europe, Middle East and Africa business (EMEA) to LCC International Inc. (LCCI.O: Quote, Profile , Research) for $4 million in cash. Wireless Facilities, which provides engineering and technical services for the wireless communications industry, in a statement said the divestiture would allow it to focus on its domestic operations. The company sees increasing opportunities in the advanced wireless services spectrum auction in the United States, it added.
The deal, expected to close in the first quarter of 2007, would also improve free cash flow and overall liquidity, Wireless Facilities said.
In a separate statement, LCC International said excluding integration costs, the acquisition will add to its 2007 earnings.
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LCC said it aims to expand its presence in France, Sweden and Turkey and its UK deployment business with engineering capabilities. Wireless Facilities' EMEA operations generated revenue of about $17 million in 2006, it added.
The deal is being funded by Bank of America under a $6.5 million revolving credit facility, it said.
Shares of Wireless Facilities rose 5 percent to $2.09 in early electronic trade, after closing at $1.99 on the Nasdaq Thursday. (Reporting by Anant Vijay Kala in Bangalore)
LCC Intl To Buy Wireless Facilities' Stakes In EMEA Ops >LCCI
Mar 9, 2007 08:20:24 (ET)
DOW JONES NEWSWIRES
LCC International Inc. (LCCI) agreed to acquire the equity interests of Wireless Facilities Inc.'s (WFII) Europe, Middle East and Africa business for $4 million in cash.
The companies said Friday they expect the transaction to close in the first quarter.
LCC said that excluding integration costs, the acquisition will add to its earnings in 2007. Funding is being provided by Bank of America under a $6.5 million revolving credit facility.
In 2006, Wireless Facilities' EMEA operations, which are headquartered in Guilford, U.K., posted revenue of about $17 million. LC International reported revenue for the third quarter of $31.9 million. It plans to report fourth-quarter results Monday.
Wireless Facilities, San Diego, provides services and outsourcing for wireless carriers. LCC International, McLean, Va., is a provider of wireless voice and data services.
March 09, 2007 08:20 ET (13:20 GMT) Related Quotes Sym. Price Chg. LCCI Trade News 4.22 -0.02 WFII Trade News 2.08 0.09 LCC International to Expand European Operations Through Acquisition of WFI's EMEA Business
Mar 9, 2007 08:00:14 (ET)
MCLEAN, Va., Mar 09, 2007 (BUSINESS WIRE) -- LCC International, Inc. (LCCI, Trade ) today announced that it has signed a definitive agreement to purchase the equity interests of Wireless Facilities, Inc.'s (WFII, Trade ) Europe, Middle East and Africa (EMEA) business for a cash purchase price of $4 million. The agreement is subject to customary closing conditions and the Company anticipates the transaction will close in the first quarter of 2007. LCC expects that exclusive of integration costs the acquisition will be accretive to earnings on a GAAP basis in 2007.
Through this acquisition, LCC expects to:
-- Broaden its presence within France, Sweden and Turkey
-- Expand its customer portfolio with other world-class clients
-- Deepen and expand its UK deployment business with engineering capabilities
-- Establish a broader base to expand its portfolio of products and services
-- Leverage the scale it has built in EMEA to further enhance profitability
"This acquisition presents an extraordinary opportunity to expand our operations throughout Europe and further leverage the scale, intellectual capital and management experience that we currently have in EMEA," stated LCC President and Chief Executive Officer Dean Douglas. "LCC's EMEA operations have shown steady growth across both the mature and emerging markets of EMEA and have delivered consistent bottom-line improvement during the past eight quarters. With the acquisition of WFI's EMEA business, we can increase the leverage of our existing operations to accelerate profitable growth in this region. We now have the scale and presence combined with the leadership experience necessary to deliver a broader set of services to more customers. We expect to provide our customers a seamless integration as we continue to capitalize on the exciting opportunities we see in EMEA."
Funding for the transaction is being provided by the Bank of America under a $6.5 million revolving credit facility. In 2006, WFI's EMEA operations generated revenues of approximately $17 million.
About LCC International, Inc.
LCC International, Inc. is a global leader in voice and data design, deployment and management solutions to the wireless telecommunications industry. The Company has worked with all major access technologies and has participated in the success of some of the largest and most sophisticated wireless systems in the world. Through an integrated set of technical business consulting, training, design, deployment, operations and maintenance services, LCC is unique in its ability to provide comprehensive turnkey services to wireless operators around the world. News and additional information are available at www.lcc.com .
Cautionary Note regarding forward-looking statements under the Private Securities Litigation Reform Act of 1995:
Information in this release regarding LCC's expectations, beliefs, and intentions are forward-looking statements that involve risks and uncertainties. These statements include those relating to the benefits resulting from LCC's acquisition of WFI's EMEA business. All forward-looking statements included in this release are based upon information available to LCC as of the date of this release, which may change, and LCC assumes no obligation to update any such forward-looking statement. These statements are not guarantees. Factors that could cause or contribute to differences from such expectations include, but are not limited to risks associated with international operations, challenges and costs arising from integration of new operations and other factors that may affect our business are discussed in LCC's filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our quarterly reports on Form 10-Q.
UPDATE 1-Wireless Facilities may restate results Mon Mar 12, 2007 6:40pm ET Market View WFII (Wireless Facilities Inc ) Last: $2.10 Change: +0.09 (+4.48%) Revenue (ttm): M EPS: Market Cap: M Time: 4:00pm ET
Stock Details Company Profile Analyst Research Company News: UPDATE 1-Wireless Facilities may restate results Wireless Facilities says may not meet 10-K filing deadline UPDATE 2-Deals of the day -- mergers and acquisitions More Company News... Email This Article | Print This Article | Reprints [-] Text [+] (Adds details, changes headline)
March 12 (Reuters) - Wireless Facilities Inc. (WFII.O: Quote, Profile , Research) said measurement dates for stock option grants issued between 1998 and 2003 appear incorrect and could affect previously issued financial statements.
In addition, the company said due to the review it will not be able to file its 2006 annual results by a March 15 deadline. It plans to take a number of charges on continuing operations.
The shares hit an all-time low at $1.80 in after-market trading.
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In a statement, the company said results from continuing operations would be impacted by charges related to goodwill, stock-based compensation expense restructuring and other asset impairment charges, most of which are as part of its plan to divest its international operations that had operating losses throughout 2006.
The company expects a goodwill impairment charge of $18.3 million related to acquisitions made in its Enterprise Network Services segment in 2003, a $9.2 million charge related to stock-based compensation expense and a restructuring and other asset impairment charge of $3.4 million.
Further, the results from discontinued operations will include losses of about $3.2 million from its European and South American operations and an estimated loss of about $5.2 million from its South American operations.
Earlier this month, the provider of engineering and technical services for the wireless communication industry, agreed to sell its Europe, Middle East and Africa business.
The gain on the sale will not be recorded until the first quarter of 2007. (Reporting by Hari Kumar in Bangalore)
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Finkelstein Thompson LLP Announces Investigation of Wireless Facilities, Inc. Options Backdating WASHINGTON, March 14 /PRNewswire/ -- The law firm of Finkelstein Thompson LLP has commenced an investigation of Wireless Facilities, Inc. (Nasdaq: WFII) for concerning the company's backdating of stock options.
On March 12, 2007, Wireless Facilities announced that it would delay its 2006 annual financial results after an internal review uncovered incorrect measurement dates for stock option grants issued between 1998 and 2003. The Company further disclosed that 'there is a strong likelihood' that it will restate financial results issued during this period. The market responded sharply to this news with the price of Wireless Facilities stock tumbling 14.8% from a closing price of $2.10 on March 12, 2007 to an all-time low of $1.79 during after-hours trading. On March 13, 2007, the share price continued to decline, closing at $1.61.
If you are a Wireless Facilities shareholder and have information relevant to our investigation or if you would like to discuss potential legal remedies, please contact us via email at contact*finkelsteinthompson.com or call our Washington, DC office at 877-337-1050.
SOURCE Finkelstein Thompson LLP
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WELL THIS WAS A POS PICK --PPS 1.48 !!!!Johnson & Perkinson Announces Filing of Class Action Lawsuit Against Wireless Facilities, Inc. -- WFII
Mar 19, 2007 18:19:36 (ET)
SOUTH BURLINGTON, Vt., Mar 19, 2007 (*********wire via COMTEX) -- Johnson & Perkinson ("J&P") hereby announces that it filed a class action lawsuit on behalf of plaintiff and a proposed class of purchasers of securities of Wireless Facilities, Inc. (WFII, Trade ) ("WFI" or "Company") during the period March 29, 2001 to March 12, 2007 inclusive (the "Class Period").
The Complaint alleges that WFI and certain officers and directors violated Sections 10(b), 14(a) and 20(a) of the Securities Exchange Act of 1934 by making false and misleading statements and omissions concerning WFI's improper and undisclosed practice of backdating options conferred on certain executives, which made it appear that such options were issued upon dates when the market price of WFI stock was lower than actual market price on the actual grant dates, thereby masking the profits the option recipients obtained. Under generally accepted accounting principles, these profits were required to be recognized as an expense in the Company's financial statements for the appropriate period, but were not. This backdating of options also violated provisions of the Internal Revenue Code relating to deduction of option payments. Thus, the Complaint alleges, the Company's financial statements in Form 10-K filings for the years 2000, 2001, 2002, 2003, 2004 and 2005 and Form 10-Q quarterly filings were materially false and misleading.
The plaintiff is represented by J&P, which has extensive experience in prosecuting investor class actions and actions involving financial fraud. J&P is a litigation boutique dedicated to maximizing shareholders' returns and keeping the lead plaintiffs involved in the litigation. Attorneys Johnson and Perkinson are both former employees of the Securities and Exchange Commission. Members of the firm have prosecuted complex class actions on behalf of plaintiffs in the areas of securities and consumer fraud since 1985. Based in South Burlington, Vermont, the firm has prosecuted leading actions on behalf of defrauded investors against numerous public companies resulting in the recovery of many millions of dollars and has been singled out for its excellence by various courts. The firm is litigating, or recently resolved litigation as lead or co-lead counsel, in securities class actions against Xerox, Priceline, i2, Allaire, and Xchange, and serves on the Executive Committee in the Global Crossing case.
If you bought Wireless Facilities securities between March 29, 2001 and March 12, 2007, you may, not later than sixty (60) days from March 16, 2007, move the court to serve as lead plaintiff. To serve as lead plaintiff, however, you must meet certain legal requirements.
If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters, please contact: Eben F. Duval at Johnson & Perkinson, toll free at 1-888-459-7855, via email at email*jpclasslaw.com, or write to Johnson & Perkinson, 1690 Williston Road, P.O. Box 2305, South Burlington, Vermont 05403.
More information on this and other class actions can be found on the Class Action Newsline at www.*********wire.com/ca .