CIBL, Inc. Reports Second Quarter Operating Results
Revenues increased 4.1% to $529,000 in the second quarter of 2025 from $508,000 in the second quarter 2024
Earnings per share were $5.60 per share in the second quarter of 2025 compared to a loss per share of $5.22 in the second quarter 2024
Cash and investments, net of zero debt, were $20,452 as of June 30, 2025
Christopher Nossokoff joined CIBL as a mergers and acquisitions advisor to provide and accelerate our interest in non-organic growth
Results from Operations
Three Months Ended June 30, 2025
Revenues increased 4.1% to $529,000 in the second quarter 2025 from $508,000 in the second quarter 2024 due to increased service revenues from broadband, end-user terminals and voice over internet protocol.
EBITDA from operations 1 decreased 21.3% to $118,000 in the second quarter 2025 compared to $150,000 in the second quarter 2024 due to less capitalized labor for plant under construction and switch replacements.
Six Months Ended June 30, 2025
Revenues increased 7.9% to $1,053,000 for the six months ended June 30, 2025 from $976,000 for the six months ended June 30, 2024 due to new services, one-time equipment revenues and system upgrades.
EBITDA from operations 1 decreased 16.8% to $242,000 for the six months ended June 30, 2025 from $291,000 for the six months ended June 30, 2024 due to the increase in revenues discussed above partially offset by less capitalized labor for plant under construction and switch replacements.
_______________
1 A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided at the end of this press release.
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Other Highlights
Capital expenditures were $45,000 and $164,000 for the six months ended June 30, 2025, and 2024, respectively.
During the six months ended June 30, 2025, the Company acquired 725 of its shares at an average price of $1,690 per share. As of June 30, 2025, CIBL has 11,541 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,325 of its shares for $21.8 million, or an average price of $1,420 per share.
CIBL's Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value.
About CIBL, Inc.
CIBL is a holding company with interests in broadband operations. CIBL's operations consist of Bretton Woods Telephone Company and World Surfer, Inc. providers of broadband and communication services in Northern New Hampshire. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: www.ciblinc.com.
Cautionary Note Concerning Forward-Looking Statements
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 Inc. and Subsidiaries
Attachment B
Consolidated Balance Sheets (Unaudited)
(USD in thousands, except share data)
December 31,
2024
(Audited)
June 30, 2024
Assets
Current assets
Cash and cash equivalents
$
1,594
$
2,341
$
1,348
Investments in United States Treasury Bills
16,550
16,598
18,841
Investment in available for sale equity securities
44
294
279
Investment in equity method limited partnership
1,706
1,645
1,595
Accounts receivable
253
284
221
Prepaid expenses
94
192
71
Materials and supplies
59
59
59
Income taxes receivable
37
-
43
Total current assets
20,337
21,413
22,457
Telecommunications, property, plant and equipment, net
907
958
771
Goodwill
337
337
337
Other intangibles, net
25
30
35
Other investments
1,708
1,636
700
Deferred income taxes
34
39
50
Other assets
59
59
71
Total assets
$
23,407
$
24,472
$
24,421
Liabilities
Current liabilities
Income taxes payable
$
--
$
14
$
--
Trade accounts payable and accrued expenses
142
138
124
Accrued liabilities
353
284
381
Total current liabilities
495
436
505
Other liabilities
46
46
59
Total liabilities
541
482
564
Equity
Common stock, par value $.01, 30,000 shares authorized; 26,865, 26,865 and 26,415 issued; and 11,541, 12,266 and 12,399 outstanding
--
--
--
Contributed capital
7,112
7,112
6,212
Retained earnings
37,545
37,416
37,147
Treasury stock, 15,325; 14,600; and 14,017 shares at cost
(21,791
)
(20,538
)
(19,502
)
Total equity
22,866
23,990
23,857
Total liabilities and equity
$
23,407
$
24,472
$
24,421
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CIBL Inc. and Subsidiaries
Attachment C
EBTIDA Reconciliation (Unaudited)
(USD in thousands, except share data)
The following table is a reconciliation of EBITDA from operations to Net income (loss):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025
2024
2025
2024
Net income (loss)
$
65
$
(65
)
$
129
$
(126
)
Adjustments:
Interest income
(185
)
(266
)
(377
)
(521
)
Income tax expense (benefit)
20
(31
)
34
(46
)
Depreciation and amortization
52
34
100
65
Total adjustments
(113
)
(263
)
(243
)
(502
)
EBITDA
(48
)
(328
)
(114
)
(628
)
Corporate office expenses
273
280
509
523
Equity in earnings of affiliated companies
(107
)
127
(133
)
283
Unrealized and realized losses on available for sale equity securities
-
71
(20
)
113
EBITDA from operations
$
118
$
150
$
242
$
291
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