Network Installation Acquires Com Services23 January 2005
Network Installation Corp. (OTC Bulletin Board: NWKI) today announced that it has acquired Costa Mesa, CA - based networking services firm Com Services, Inc. for $430,000 in
cash and stock. Com Services reported un-audited revenue of $937,000 for the
nine month period ended December 31, 2004 (year ending March 31, 2005).
Network Installation Chairman Michael Novielli stated, "The acquisition of
Com Services is a tremendous milestone for Network Installation. Their strong
presence as a union certified firm opens for us new avenues of pursuit. One
of our corporate goals this year is to aggressively pursue Government Services
Administration (GSA) business and the fact that we can now bid on union
projects we believe gives us a significant competitive advantage."
Com Services President Ray Mallory added, "I am truly excited about this
opportunity. Network Installation's recent achievements speak for themselves.
Their strong sales capacity is a perfect complement to our project management
capabilities. The ability to offer Network's complete portfolio of
communication services from wireless to telecom to our installed base, should
create significant momentum to top line revenue growth. I look forward to
marked achievement from the convergence of our organizations."
Network Installation CEO Michael Cummings commented, "With the acquisition
of Com Services we have added a valuable franchise to our Company. Their core
markets of K-12, Higher Education and Fortune 1000 fit seamlessly aside those
of Network Installation. We have acquired a considerable asset which I
believe will yield a significant return to our shareholders and investors."
As part of the transaction, Com Services will operate as a wholly-owned
subsidiary of Network Installation Corp. Jim Fry has been named President of
Com Services and Mssr. Mallory was appointed Executive Vice-President.
Forward-Looking Statements
This release contains forward-looking statements, including, without
limitation, statements concerning our business and possible or assumed future
results of operations. Our actual results could differ materially from those
anticipated in the forward-looking statements for many reasons including: our
ability to continue as a going concern, adverse economic changes affecting
markets we serve; competition in our markets and industry segments; our timing
and the profitability of entering new markets; greater than expected costs,
customer acceptance of wireless networks or difficulties related to our
integration of the businesses we may acquire; and other risks and
uncertainties as may be detailed from time to time in our public announcements
and SEC filings. Although we believe the expectations reflected in the
forward-looking statements are reasonable, they relate only to events as of
the date on which the statements are made, and our future results, levels of
activity, performance or achievements may not meet these expectations. We do
not intend to update any of the forward-looking statements after the date of
this document to conform these statements to actual results or to changes in
our expectations, except as required by law.
For further information, please contact: Michael Novielli, Chairman,
Network Installation Corp., mnovielli@networkinstallationcorp.net
+1-203-791-3838.
Source: PR Newswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
Related Articles
Recent Issues
|
