SAN FRANCISCO, Nov. 9, 2011 /PRNewswire/ -- FiberTower
Corporation (NASDAQ: FTWR), a wireless backhaul services provider,
has filed a Notification of Late Filing, or Form 12b-25, with the
Securities and Exchange Commission with regard to its third quarter
2011 Form 10-Q report. This allows the Company an additional five
calendar days to file the Form 10-Q, which was otherwise due on
November 9, 2011.
FiberTower is not able to file its Quarterly Report on Form 10-Q
for the quarter ended September 30,
2011 on or prior to November 9,
2011 because it is in the process of completing its analysis
and quantification of asset impairment charges arising from events
occurring in the quarter ended September 30,
2011. As the Company has not yet finalized the determination
of the amount of the asset impairment charges to be incurred during
the quarterly period ended September 30,
2011, a reasonable estimate of the results of operations for
the three and nine month periods ended September 30, 2011 cannot be made. As a result,
the Company is unable to file its Form 10-Q on a timely basis
without unreasonable effort and expense.
About FiberTower
FiberTower is a backhaul and access services provider focused
primarily on the wireless carrier market. With its extensive
spectrum footprint in 24 GHz and 39 GHz bands, carrier-class fiber
and microwave networks in 13 major markets and master service
agreements with nine U.S. wireless carriers, FiberTower is an
alternative carrier for wireless backhaul. FiberTower also provides
backhaul and access service to government and enterprise markets.
For more information, please visit our website at
www.fibertower.com.
Forward-Looking Statements
This news release includes "forward-looking" statements, as that
term is defined in the Private Securities Litigation Reform Act of
1995 or by the Securities and Exchange Commission, or SEC, in its
rules, regulations and releases. Forward-looking statements relate
to expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. These include statements
regarding, among other things, our future financial performance and
results of operations including our financial and business
prospects, the determination of asset impairment charges for the
quarterly period ended September 30,
2011, our ability to file our third quarter report on Form
10-Q for the period ended September 30,
2011 in a timely fashion, the deployment of our services,
capital requirements, financing prospects, planned capital
expenditures, anticipated customer growth, expansion plans, and
anticipated cash balances.
There are many risks, uncertainties and other factors that can
prevent the achievement of goals or cause results to differ
materially from those expressed or implied by these forward-looking
statements. These include, among other things, negative cash flows
and operating and net losses, additional liquidity requirements,
potential loss of significant customers, downturns in the wireless
communication industry, regulatory costs and restrictions,
potential loss of FCC licenses, equipment supply disruptions and
cost increases, competition from alternative backhaul service
providers and technologies, along with those risk factors described
in the company's Annual Reports on Form 10-K and Quarterly Reports
on Form 10-Q, as filed with the SEC.
SOURCE FiberTower Corporation