SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) November 15, 1999
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METRO ONE TELECOMMUNICATIONS, INC.
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(Exact Name of Registrant as Specified in its Charter)
Oregon 0-27024 93-0995165
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(State or Other Jurisdiction (Commission File (IRS Employer
of Incorporation) Number) Identification No.)
11200 Murray Scholls Place, Beaverton, Oregon 97007
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (503) 643-9500
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Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS.
On November 15, 1999, Metro One Telecommunications, Inc.
(the "Company") announced that it believes that its earnings for the fourth
quarter ending December 31, 1999 will be less than one-half of current
consensus analysts estimates of $0.14 per share. While the Company's
expectations of continued revenue growth for those periods have not changed, its
margins are being affected by increased call center staffing and associated
labor costs to meet call volume from existing and new carrier customers. The
tight labor market has required the Company to hire operators through
agencies and to generate extra overtime hours in markets servicing and
preparing to service significant new call volume; the higher labor costs
brought on by these actions have been the principal reason for expected lower
earnings. The Company cannot determine the precise impact that these
increased costs will have on its earnings into the year 2000 as additional
call volume is rolled out.
The foregoing is qualified in its entirety by reference to
a copy of the Company's press release, which is filed as Exhibit 99.1 to this
Report and incorporated in this Report by this reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS.
EXHIBIT NO. DESCRIPTION
99.1 Press Release, dated November 15, 1999,
"Metro One Telecommunications Comments on
Earnings Estimates."
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: November 15, 1999
Metro One Telecommunications, Inc.
By /s/ Stebbins B. Chandor, Jr.
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Stebbins B. Chandor, Jr.
Senior Vice President and
Chief Financial Officer
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EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 Press Release, dated November 15, 1999, "Metro One
Telecommunications Comments on Earnings Estimates."
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