Sales increased 224% to a record $13.9M from $4.3M in the 1999 Q4; net income was a record $2.3 million, or $0.04 per diluted share

March 30, 2001

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CHARLTON, Mass. -- FiberCore, Inc. (Nasdaq: FBCE - news), a leading manufacturer and global supplier of optical fiber and preform for the telecommunication and data communications markets, today announced record results for the fourth quarter and year ended December 31, 2000. The results include the operations of Xtal FiberCore S.A., the Company's recently acquired Brazilian facility, from June 1, 2000. Sales for the fourth quarter of 2000 increased 224% to a record $13.9 million from $4.3 million in the fourth quarter of 1999. Sales benefited from continued strong market demand from new and existing customers, higher pricing, as well as strong sales from the Company's Brazilian operations. Net income was a record $2.3 million, or $0.04 per diluted share, in the fourth quarter of 2000. This compares to a net loss of approximately $41,000, or $0.00 per share, in the fourth quarter of 1999.

"It's been an exciting year for FiberCore, culminating in a record fourth quarter in both sales and earnings," commented Dr. Mohd Aslami, President and CEO. "As the only independent fiber supplier in the Western Hemisphere and Europe, we continue to see strong demand and growing backlog. At February 28, 2001, backlog, which is expected to ship over the next three years, was a record $265 million, up from $190 million at December 31, 2000 and under $13 million at the end of 1999. Approximately 66% of our current backlog is in take-or-pay contracts which gives us confidence in our expectation that sales will double in 2001 and profitability and cash flow will continue to improve."

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