- Wireline provider Otelco (OTEL -7.4%) posted Q4 results where revenues dropped Y/Y but net income available to stockholders rose nearly 50%.
- Operating expenses fell 11.9%, and cost of services dropped 6.8% while SG&A expenses were down 25.5%.
- Retail business access line equivalents were flat; "Our Hosted PBX product and the Classifax offering continue to grow as the market continues its migration to IP-based products," said CEO Rob Souza.
- Revenue by segment: Local services, $6.2M (down 4.7%); Network access, $5.5M (down 6.1%); Internet, $3.8M (up 5.4%); Transport services, $1.3M (up 1.3%); Video and security, $669K (down 1.9%); Managed services, $230K (up 3.1%).
- Conference call to come tomorrow at 11:30 a.m. ET.
- Press Release