CIBL, Inc. Reports First Quarter Operating Results

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)-- 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.