CIBL, Inc. Reports First Quarter Operating Results

Business Wire

05-05-2025

RENO, Nev.--(BUSINESS WIRE)--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.
(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.
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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 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
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