CIBL, Inc. Reports (Unaudited) First Quarter Operating Results
For the three months ended
During 2024, the Company acquired 21 of its shares at an average price of
On
CIBL’s Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value.
To the extent this release contains forward-looking information 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, it should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, www.
CIBL is a holding company with interests in broadband operations. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: www.ciblinc.com.
Attachment A |
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Consolidated Statements of Operations (Unaudited) (In Thousands, Except Common Share and Earnings per Share Data) |
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Three Months Ended
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2024 |
2023 |
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Revenue |
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Revenue |
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Costs and expenses |
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Operating costs |
271 |
|
273 |
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General and administrative costs of operations |
55 |
|
61 |
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Corporate office expenses |
244 |
|
250 |
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Depreciation and amortization |
31 |
|
31 |
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Total Operating expenses |
601 |
|
615 |
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Operating loss |
(133 |
) |
(146 |
) |
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Other income (expense): |
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Interest income |
256 |
|
221 |
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Equity in income/(loss) of limited partnership investment |
(156 |
) |
(20 |
) |
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Unrealized loss on available for sale equity securities |
(42 |
) |
(30 |
) |
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Total Other income |
58 |
|
171 |
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Net income (loss) before income taxes |
(75 |
) |
25 |
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Income tax (expense) benefit |
15 |
|
(6 |
) |
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Net income (loss) |
( |
) |
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Basic and diluted weighted average shares outstanding |
12,664 |
|
12,542 |
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Actual shares outstanding |
12,647 |
|
12,524 |
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Per Share |
|
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Net income (loss) per share |
( |
) |
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Attachment B |
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Consolidated Balance Sheets (Unaudited) (In Thousands, Except Common Share and Earnings per Share Data) |
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Assets |
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Current Assets |
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Cash and cash equivalents |
|
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|
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Investments in |
19,126 |
|
|
19,046 |
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|
18,634 |
|
Investment in available for sale equity securities |
509 |
|
|
551 |
|
|
526 |
|
Investment in equity method limited partnership |
1,722 |
|
|
1,878 |
|
|
1,723 |
|
Accounts receivable |
226 |
|
|
228 |
|
|
197 |
|
Prepaid expenses |
127 |
|
|
160 |
|
|
124 |
|
Materials and supplies |
59 |
|
|
59 |
|
|
59 |
|
Income taxes receivable |
35 |
|
|
45 |
|
|
66 |
|
Total Current Assets |
23,085 |
|
|
23,219 |
|
|
23,150 |
|
|
|
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Telecommunications, property, plant and equipment, net |
693 |
|
|
646 |
|
|
686 |
|
|
|
|
|
|
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|||
|
337 |
|
|
337 |
|
|
337 |
|
Other intangibles, net |
38 |
|
|
41 |
|
|
49 |
|
Other investments |
700 |
|
|
700 |
|
|
100 |
|
Deferred income tax |
5 |
|
|
-- |
|
|
14 |
|
Other assets |
71 |
|
|
71 |
|
|
85 |
|
Total Assets |
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Liabilities and Equity |
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Current Liabilities |
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Accounts payable and accrued expenses |
|
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Accrued liabilities |
346 |
|
|
371 |
|
|
371 |
|
Total Current Liabilities |
498 |
|
|
447 |
|
|
468 |
|
|
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|
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Deferred income taxes |
-- |
|
|
37 |
|
|
-- |
|
Other liabilities |
59 |
|
|
59 |
|
|
70 |
|
Total Liabilities |
557 |
|
|
543 |
|
|
538 |
|
|
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Equity |
|
|
|
|
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Common stock, par value |
-- |
|
|
-- |
|
|
-- |
|
Contributed capital |
6,212 |
|
|
6,212 |
|
|
5,612 |
|
Retained earnings |
37,213 |
|
|
37,273 |
|
|
37,005 |
|
|
(19,053 |
) |
|
(19,014 |
) |
|
(18,734 |
) |
Total Equity |
24,372 |
|
|
24,471 |
|
|
23,883 |
|
Total Liabilities and Equity |
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240513345865/en/
Chief Financial Officer
(775) 664-3700
Source: