Otelco spikes on Q2 results

|By:, SA News Editor

Otelco (OTEL +10.5%) reports Q2 revenues of $19.67M (-20.4% Y/Y). The report is Otelco's first since emerging from a pre-packaged bankruptcy in May.

One reason investors are pleased is strong turnaround execution. The company generated NOPBT of $2.91M (excluding reorganization gains of $111.68M), compared to $1.1M in Q2 2012 after adjusting for impairment charges.

Adjusted EBITDA was $8.45M ($10.81M prior).