CIBL, Inc. Reports First Quarter Operating Results

May 05 2025 22:32 BST

First Quarter Highlights

Revenue: First-quarter revenues increased 12.2% to $525,000, up from $468,000 in the prior year
Earnings Per Share: First-quarter earnings per share were $5.50 per share, up 216% from ($4.74) per share in the same period last year
Liquid value per share rose to $1,774

RENO, Nev.--(BUSINESS WIRE)--May 5, 2025-- CIBL, Inc. (“CIBL” or the “Company”; OTC Pink ®: CIBY) reports unaudited financial results for the quarter ended March 31, 2025, of its operations which consist of Bretton Woods Telephone Company and World Surfer, Inc. providers of broadband and communication services in Northern New Hampshire (“New Hampshire Operations”).

First-quarter revenues from our New Hampshire Operations increased 12.2% to $525,000, up from $468,000 in the prior year due to increased service revenues from broadband, end-user terminals and voice over internet protocol. Operational EBITDA declined 12% to $125,000 in the first-quarter, compared to $142,000 in the same period last year due to less capitalized labor for plant under construction and switch replacements in the current year period.

Balance Sheet Highlights – (In Thousands of USD)

Cash and Liquid Assets – (b)	March 31, 2025	December 31, 2024

Cash and cash equivalents	$514	$1,453
Investments in US Treasury Bills	16,860	16,598
Investments in available for sale equity securities	44	294
Investments in equity method limited partnership	1,630	1,645
Other Investments – (a)	1,678	1,636
Total cash and liquid assets	$20,726	$21,626
Shares Outstanding	11,680	12,266
Liquid value per share (a) (b)	$1,774	$1,763

(a) Consists of Brick Skirt 20% equity method - $1,578 and Solix, Inc. 1.43% cost method - $100

(b) Excludes the assets of the New Hampshire operations of Bretton Woods Telephone Company and World Surfer, Inc.

Other Highlights

Capital expenditures were $24,000 and $75,000 for the quarters ending March 31, 2025, and 2024, respectively.

During the quarter ended March 31, 2025, the Company acquired 586 of its shares at an average price of $1,699 per share. At March 31, 2025, CIBL has 11,680 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,186 of its shares for $21.5 million, or an average price of $1,418 per share.

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.ciblinc.com. Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate.

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.

CIBL, Inc. and Subsidiaries Consolidated Statements of Operations (Unaudited) (In Thousands, Except Common Share and Earnings per Share Data)	Attachment A
	Three Months Ended March 31,
	2025	2024
Revenue
Revenue	$525	$468

Costs and expenses
Operating costs, excluding depreciation	341	271
General and administrative costs of operations	59	55
Corporate office expenses	236	244
Depreciation and amortization	48	31
Total Operating expenses	684	601
Operating loss	(159)	(133)
Other income (expense):
Interest income	192	256
Equity in earnings of affiliated companies	26	(156)
Unrealized and realized gain (loss) on available for sale equity securities	20	(42)
Total Other income	238	58
Income (loss) before income taxes	79	(75)
Income tax (expense) benefit	(14)	15
Net income (loss)	$65	($60)


Basic and diluted weighted average shares outstanding	11,824	12,664
Actual shares outstanding	11,680	12,647

Per Share
Net income (loss) per share	$5.50	($4.74)

CIBL, Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) (In Thousands, Except Common Share)	Attachment B
	March 31, 2025	December 31, 2024	March 31, 2024
Assets
Current Assets
Cash and cash equivalents	$1,583	$2,341	$1,281
Investments in United States Treasury Bills	16,860	16,598	19,126
Investment in available for sale equity securities	44	294	509
Investment in equity method limited partnership	1,630	1,645	1,722
Accounts receivable	223	284	226
Prepaid expenses	138	192	127
Materials and supplies	59	59	59
Income taxes receivable	-	-	35
Total Current Assets	20,537	21,413	23,085

Telecommunications, property, plant and equipment, net	937	958	693

Goodwill	337	337	337
Other intangibles, net	27	30	38
Other investments	1,678	1,636	700
Deferred income tax	45	39	5
Other assets	59	59	71
Total Assets	$23,620	$24,472	$24,929

Liabilities and Equity
Current Liabilities
Income taxes payable	$58	$14	-
Accounts payable and accrued expenses	$138	138	$152
Accrued liabilities	344	284	346
Total Current Liabilities	540	436	498


Other liabilities	46	46	59
Total Liabilities	586	482	557

Equity
Common stock, par value $.01, 30,000 shares authorized; 26,865, 26,865 and 26,415 issued; and 11,680; 12,266; and 12,647 outstanding	--	--	--
Contributed capital	7,112	7,112	6,212
Retained earnings	37,481	37,416	37,213
Treasury stock, 15,186; 14,600; and 13,769 shares at cost	(21,559)	(20,538)	(19,053)
Total Equity	23,034	23,990	24,372
Total Liabilities and Equity	$23,620	$24,472	$24,929

View source version on businesswire.com: https://www.businesswire.com/news/home/20250505592486/en/

Kenneth D. Masiello
Chief Financial Officer
(775) 664-3700

Source: CIBL, Inc.

Company Announcements

CIBL, Inc. Reports First Quarter Operating Results