WFI Enters China
Wireless Facilities announces successful China entry via office in Beijing, comments favorably on anticipated Q3 results
October 18, 2002
SAN DIEGO -- Wireless Facilities, Inc. (WFI) (NASDAQ: WFII) , a global leader in the design, deployment and management of wireless telecommunications networks, today announced it has formed a WFI China office in Beijing to service its contracts and revenue in the wireless market in China. This significant market is supported by a Chinese government commitment and large foreign investment. As a leader in the wireless industry, WFI is able to provide needed local expertise in GSM and CDMA technology. Projects have been completed in several provinces already. Initial revenues continue to grow, supported by teaming agreements with well-respected local companies, as well as large international companies with significant investment in China. The Company expects to continue to expand its successful project base in China, with a favorable impact on WFI's operating profits in future reporting periods. In addition, WFI expects to show an increase from its second quarter cash balance of $76.1 million in the third quarter, and also anticipates reporting solid operating performance for its third quarter. Third quarter results will be released on November 6 at 1:05 p.m. Pacific Time, with a conference call following at 1:30 p.m. Pacific Time, using (212) 346-7455. Wireless Facilities Inc.
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