UniTek Global Services Regains Compliance With NASDAQ Filing Requirements

UniTek Global Services Regains Compliance With NASDAQ Filing Requirements

    First and Second Quarter 2013 Reports on Form 10-Q Filed With the SEC

       For the Six Months Ended June 30, 2013, Revenues Increased 26.2%
      Year-Over-Year to $235.0 Million; Adjusted EBITDA^1 Improved 40.5%
       Year-Over-Year to $17.0 Million; and Net Loss Was $15.4 Million

BLUE BELL, Pa., Oct. 16, 2013 (GLOBE NEWSWIRE) -- UniTek Global Services, Inc.
("UniTek" or the "Company") (Nasdaq:UNTK), a premier provider of permanently
outsourced infrastructure services to the telecommunications, broadband cable,
wireless, transportation, public safety and satellite television industries,
today announced that it has received notification from the NASDAQ Stock Market
that it is now in compliance with the requirements for continued listing, as
set forth in NASDAQ Listing Rule 5250(c)(1), as a result of filing its
Quarterly Reports on Form 10-Q for the quarters ended March 30, 2013 and June
29, 2013 with the Securities and Exchange Commission prior to the market open
on October 15, 2013.

These reports had been delayed due to a previously announced investigation
conducted by the Audit Committee of the Company's Board of Directors.

The Company plans to report its financial results for the third quarter ended
September 28, 2013 by November 12, 2013.

"The strength of our revenue and adjusted EBITDA results reflect the
commitment of our employees, customers and shareholders who supported UniTek
as we worked diligently to complete our filings. We view these results as
indicative of the character of our people, strength of our leadership and the
soundness of our business model and strategy. I would like to express my
gratitude to everyone for their support in what has been a critical period in
the history of the Company," commented Rocky Romanella, Chief Executive
Officer of UniTek.

"Our focus remains fully on the development of our business now that we have
met our reporting obligations. We intend to operate a more unified business by
mobilizing our enterprise around shared capabilities and capacity, aligning
resources with opportunities and diversification of our business and inspiring
our constituents – our people, customers, shareholders and suppliers – to
trust and grow with us. We recognize that there is still more work to do, but
we are confident that we are building a strong brand, becoming an Employer of
Choice and building shareholder value, which we expect to be evident in our
operating results over the long-term," concluded Mr. Romanella.

First Quarter Financial Highlights:

Revenues increased 32.2% to $113.8 million in the three months ended March 30,
2013, from $86.1 million in the first quarter of 2012.

Revenues for the Company's Fulfillment segment increased 8.1% to $74.4 million
for the three months ended March 30, 2013, from $68.9 million in the first
quarter of 2012. The increase in revenues was attributable to $7.1 million
related to the acquisition of a fulfillment satellite installation service
provider in September 2012, partially offset by lower volume from cable
fulfillment customers.

In the Company's Engineering and Construction segment, revenues for the three
months ended March 30, 2013, increased 128.0% to $39.4 million, from $17.3
million for the three months ended March 31, 2012. The increase was primarily
attributable to $16.5 million in revenue growth from AT&T projects in the
northeastern United States, which reflect timing as these projects were
ramping-up in the first quarter of 2012.

Adjusted EBITDA^1 increased 147.0% to $6.3 million for the three months ended
March 30, 2013, from $2.5 million for the three months ended March 31, 2012.
The increase was primarily due to $5.9 million improvement in gross profit,
partially offset by an increase in selling, general and administrative
expenses of $2.1 million, excluding the effect of stock-based compensation and
transaction costs.

Loss from continuing operations was $(7.0) million, or $(0.37) per basic and
diluted share, in the quarter ended March 30, 2013, compared with $(21.1)
million, or $(1.27) per basic and diluted share, in the first quarter of 2012.

Net loss for the three-month period ended March 30, 2013 was $(7.7) million,
or $(0.40) per basic and diluted share, compared with $(23.0) million, or
$(1.39) per basic and diluted share, for the first quarter of 2012. During the
first three months of 2012, the Company recognized expense related to
contingent consideration of $8.4 million, as well as restructuring charges of
$4.0 million.

Second Quarter Financial Highlights:

Revenues increased 21.1% to $121.2 million in the quarter ended June 29, 2013,
from $100.0 million in the second quarter of 2012.

Revenues from the Company's Fulfillment segment increased 9.5% to $77.9
million in the three months ended June 29, 2013, compared to $71.1 million in
the three month period ended June 30, 2012. The increase was attributable to
$7.2 million related to the acquisition of a fulfillment satellite
installation service provider in September 2012, partially offset by lower
volume from cable fulfillment customers.

In the Company's Engineering and Construction segment, revenues for the three
months ended June 29, 2013 increased 50% to $43.3 million, from $28.9 million
for the three months ended June 30, 2012. The increase was primarily
attributable to $18.4 million from AT&T projects in the northeastern United
States.

Adjusted EBITDA^1 increased 12.1% to $10.7 million for the three months ended
June 29, 2013, compared to $9.5 million for the three months ended June 30,
2012. The year-over-year increase in adjusted EBITDA includes a $3.4 million
improvement in gross profit, partially offset by an increase in selling,
general and administrative expenses of $2.3 million excluding the effect of
stock-based compensation and transaction costs.

Loss from continuing operations was $(7.6) million, or $(0.40) per basic and
diluted share, in the second quarter of 2013, compared with $(3.5) million, or
$(0.19) per basic and diluted share, in the same period of 2012.

Net loss for the three-month period ended June 29, 2013 was $(7.7) million, or
$(0.41) per basic and diluted share, compared with $(5.5) million, or $(0.29)
per basic and diluted share, for the same three months in 2012. The Company
recognized expense related to contingent consideration during the three months
ended June 30, 2012 of $1.7 million.

Six-Month Financial Highlights:

Revenues increased 26.2% to $235.0 million in the six months ended June 29,
2013, from $186.2 million in the first six months of 2012.

Revenues from the Company's Fulfillment segment increased 8.8% to $152.3
million in the six months ended June 29, 2013 compared to $140.0 million in
the six-month period ended June 30, 2012. The increase in revenues was
attributable to $14.3 million related to the acquisition of a fulfillment
satellite installation service provider in September 2012, partially offset by
lower volume from cable fulfillment customers.

In the Company's Engineering and Construction segment, revenues for the six
months ended June 29, 2013 increased 79.0% to $82.7 million, from $46.2
million for the six months ended June 30, 2012. The increase was primarily
attributable to $34.9 million from AT&T projects in the northeastern United
States. As the Company previously disclosed, in the second quarter of 2013,
AT&T advised the Company that it would reduce the amount of wireless
construction work to be performed by UniTek.

Adjusted EBITDA^1 increased 40.5% to $17.0 million for the six months ended
June 29, 2013, compared to $12.1 million for the six months ended June 30,
2012. The year-over-year increase in adjusted EBITDA includes a $9.3 million
improvement in gross profit, partially offset by an increase in selling,
general and administrative expenses of $4.4 million excluding the effect of
stock-based compensation and transaction costs.

Loss from continuing operations was $(14.5) million, or $(0.77) per basic and
diluted share, in the first six months of 2013, compared with $(24.6) million,
or $(1.40) per basic and diluted share, in the same period of 2012.

Net loss for the six-month period ended June 29, 2013 was $(15.4) million, or
$(0.81) per basic and diluted share, compared with $(28.5) million, or $(1.62)
per basic and diluted share, for the first six months of 2012. The Company
recognized expense related to contingent consideration during the first six
months of 2012 of $10.1 million.

Commenting on the Company's financial results, Andrew J. Herning, Chief
Financial Officer of UniTek, said, "Results for the first half of 2013 reflect
strong year-over-year improvement in revenues and EBITDA and underscore the
dedication of our employees and our sales force as they continue to work
effectively across a shared services platform to fulfill the needs of our
customers and ensure our future stability and profitability. We are encouraged
by the growth achieved in the first half of this year and believe we can
leverage that performance, along with our commitment to technology and shared
services platform, to continue to grow profitability."

About UniTek Global Services

UniTek Global Services is a provider of engineering, construction management
and installation fulfillment services to companies specializing in the
telecommunications, broadband cable, wireless, two-way radio, transportation,
public safety and satellite industries. UniTek has created a scalable
operating platform, enabling each UniTek subsidiary to deliver quality
services to its Fortune 200 customers. UniTek's website is:
www.unitekglobalservices.com.

Forward-Looking Statements

The statements in this press release that are not historical fact are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than statements of
historical facts, and include without limitation statements regarding the
Company's plans to file its third quarter 2013 financial statements, the
projected growth of and developments in the Company's business, enhancements
to the Company's brand and attractiveness to employees, the building of
shareholder value, expected impacts on revenues from AT&T, and the achievement
of revenue and growth objectives. These statements are subject to
uncertainties and risks including, but not limited to, the Company's ability
to address issues arising from previously disclosed accounting-related
matters, operating performance, general financial, economic, and political
conditions affecting the Company's business and its target industries, the
ability of the Company to perform its obligations under its contracts and
agreements with customers, and other risks contained in reports filed by the
Company with the Securities and Exchange Commission, including in our Form
10-K for the year ended December 31, 2012. The words "may," "could," "should,"
"would," "believe," "are confident," "anticipate," "estimate," "expect,"
"intend," "plan," "aspire," and similar expressions are intended to identify
forward-looking statements. All such statements are made in good faith by the
Company pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. The Company does not undertake to update any
forward looking statement, whether written or oral, which may be made from
time to time by or on behalf of the Company, except as may be required by
applicable law or regulations.

(1) Adjusted EBITDA is a key indicator used by our management to evaluate
operating performance of our continuing operations and to make decisions
regarding compensation and other operational matters as well as by our
investors and lenders in evaluating our performance. While this Adjusted
EBITDA is not intended to replace any presentation included in our
consolidated financial statements under generally accepted accounting
principles, or GAAP, and should not be considered an alternative to operating
performance, we believe this measure is useful to investors in assessing our
performance with other companies in our industry. This calculation may differ
in method of calculation from similarly titled measures used by other
companies or from required calculations pursuant to our loan agreements. We
compensate for these limitations by relying primarily on our GAAP results and
using Adjusted EBITDA only as supplemental information. Adjusted EBITDA is our
EBITDA adjusted for discontinued operations, stock-based compensation and
other unusual or non-recurring costs, including the costs associated with the
Restatement, the Audit Committee Investigation and related costs.

UNITEK GLOBAL SERVICES, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Comprehensive Income or Loss
(Unaudited)

                                                       Three Months Ended
                                                       March30,  March31,
(in thousands, except per share amounts)                2013       2012
                                                                 
Revenues                                                $113,838 $86,139
Cost of revenues                                        95,251    73,416
Gross profit                                            18,587    12,723
Selling, general and administrative expenses            13,138    12,306
(Income) expense related to contingent consideration    (114)     8,410
Restructuring charges                                   479       4,009
Restatement, investigation and related costs            1,398     —
Depreciation and amortization                           6,047     6,392
Operating loss                                          (2,361)   (18,394)
Interest expense                                        4,634     3,000
Other income, net                                       (12)      (234)
Loss from continuing operations before income taxes     (6,983)   (21,160)
Income tax expense (benefit)                            60        (68)
Loss from continuing operations                         (7,043)   (21,092)
Loss from discontinued operations, net of income taxes  (621)     (1,929)
Net loss                                                $(7,664) $(23,021)
Other comprehensive income or loss:                               
Foreign currency translation                            17        41
Comprehensive loss                                      $(7,647) $(22,980)
                                                                 
Net loss per share–basic and diluted:                           
Continuing operations                                   $(0.37)  $(1.27)
Discontinued operations                                 (0.03)    (0.12)
Total                                                   $(0.40)  $(1.39)
                                                                 
Weighted average shares of common stock outstanding –   18,935    16,545
basic and diluted

Adjusted EBITDA

The following table presents the reconciliation of net loss to Adjusted
EBITDA:

                                                    Three Months Ended
                                                    March30,  March31,
(in thousands)                                       2013       2012
                                                              
Net loss                                             $(7,664) $(23,021)
Loss from discontinued operations                    621       1,929
Income tax expense (benefit)                         60        (68)
Depreciation and amortization                        6,047     6,392
Restructuring charges                                479       4,009
Restatement, investigation and related costs         1,398     —
Interest expense                                     4,634     3,000
(Income) expense related to contingent consideration (114)     8,410
Stock-based compensation                             767       2,065
Transaction costs                                    80        67
Other income, net                                    (12)      (234)
Adjusted EBITDA                                      $6,296   $2,549
                                                              

UNITEK GLOBAL SERVICES, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Comprehensive Income or Loss
(Unaudited)

                                Three Months Ended    Six Months Ended
                                June29,   June30,   June29,    June30,
(in thousands, except per share  2013       2012       2013        2012
amounts)
                                                               
Revenues                         $ 121,187 $ 100,046 $ 235,025  $ 186,185
Cost of revenues                 99,116    81,417    194,367    154,833
Gross profit                     22,071    18,629    40,658     31,352
Selling, general and             11,771    10,085    24,909     22,391
administrative expenses
Expense (income) related to      —        1,667     (114)      10,077
contingent consideration
Restructuring charges            —        797       479        4,806
Restatement, investigation and   3,668     —        5,066      —
related costs
Depreciation and amortization    5,213     6,697     11,260     13,089
Operating income (loss)          1,419     (617)     (942)      (19,011)
Interest expense                 8,907     3,613     13,541     6,613
Other expense (income), net      5         (836)     (7)        (1,070)
Loss from continuing operations  (7,493)   (3,394)   (14,476)   (24,554)
before income taxes
Income tax expense               116       90        176        22
Loss from continuing operations  (7,609)   (3,484)   (14,652)   (24,576)
Loss from discontinued           (98)      (1,970)   (719)      (3,899)
operations, net of income taxes
Net loss                         $(7,707) $(5,454) $ (15,371) $ (28,475)
Other comprehensive income or                                   
loss:
Foreign currency translation     20        —        37         41
Comprehensive loss               $(7,687) $(5,454) $ (15,334) $ (28,434)
                                                               
Net loss per share–basic and                                  
diluted:
Continuing operations            $(0.40)  $(0.19)  $(0.77)   $(1.40)
Discontinued operations          (0.01)    (0.10)    (0.04)     (0.22)
Total                            $(0.41)  $(0.29)  $(0.81)   $(1.62)
                                                               
Weighted average shares of
common stock outstanding – basic 18,996    18,629    18,966     17,587
and diluted

Adjusted EBITDA

The following table presents the reconciliation of net loss to Adjusted
EBITDA:

                                   Three Months Ended   Six Months Ended
                                   June29,   June30,  June29,   June30,
(in thousands)                      2013       2012      2013       2012
                                                                
Net loss                            $ (7,707) $(5,454) $(15,371) $(28,475)
Loss from discontinued operations   98        1,970    719       3,899
Income tax expense                  116       90       176       22
Depreciation and amortization       5,213     6,697    11,260    13,089
Restructuring charges               —        797      479       4,806
Restatement, investigation and      3,668     —       5,066     —
related costs
Interest expense                    8,907     3,613    13,541    6,613
Expense (income) related to         —        1,667    (114)     10,077
contingent consideration
Stock-based compensation            390       982      1,157     3,047
Transaction costs                   —        13       80        80
Other expense (income), net         5         (836)    (7)       (1,070)
Adjusted EBITDA                     $ 10,690  $9,539  $16,986  $12,088

CONTACT: The Piacente Group | Investor Relations
         MaryBeth Csaby
         (212) 481-2050 X407
         unitek@tpg-ir.com
 
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