In a letter to shareholders dated March 20, 2020, the president and CEO of fiber infrastructure installation firm Lite Access Technologies says that, despite hurdles and delays from restrictions the coronavirus has caused, no project job sites have been closed. That would appear to include the work the company is doing for UK alternative fiber to the premises (FTTP) network operator CityFibre.
“Right now, it is business as usual, as best we can, while adhering to government evolving guidelines and restrictions – such as self-isolation and travel. We are taking all the measures necessary to ensure the health and safety of all staff,” wrote company President and CEO Carlo Shimoon. “To-date, Lite Access has not received any notification of closure at job sites. In light of the uncertainty and unpredictable geographic, social, and economic impacts of COVID-19, we believe it is reasonable to expect that actions taken to reduce the virus's spread will affect our targeted deployment rates.”
The letter notes that Lite Access won a pair of deployment contracts in 2019 from CityFibre with a combined value of approximately CAN$33 million, which Shimoon says the company plans to execute to the best of its abilities. “This year, our team is driven to deliver a considerable portion of our $33 million UK backlog to be completed over the next 2 years to generate revenue growth and continue building our reputation as a trusted supplier to telecoms, ISPs, governments, and councils,” Shimoon wrote.”
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