Welcome to our dedicated page for Lict news (Ticker: LICT), a resource for investors and traders seeking the latest updates and insights on Lict stock.
LICT Corporation reports on its operations as an integrated provider of broadband and voice services serving rural markets. Recurring company news covers regulated and non-regulated revenue trends, broadband subscriber growth, fiber construction, middle-mile and distribution network investment, and federal or state rural broadband support programs such as the Universal Service Fund, BEAD and ReConnect.
LICT updates also include completed expansion activity such as the Manti Telephone Company acquisition, common-stock repurchase authorizations, shareholder-designated charitable contribution programs, management changes, and periodic operating results tied to broadband deployment and legacy voice-service trends.
LICT reported a robust Q1 2024 with a 15.5% rise in revenue, hitting $33.5 million. EBITDA increased 30% to $14.7 million, compared to $11.5 million in Q1 2023. Earnings per share rose to $295 from $228. Capex surged to $16.4 million, driven by the E-ACAM program and grants. The E-ACAM program adds $14 million annually through 2038, totaling $37.2 million per year. The company was awarded $157.5 million in USDA ReConnect III and IV grants. LICT continues to expand its broadband services and 5G wireless installations. However, higher operating expenses and a $0.8 million decrease in other income due to interest expenses and unrealized losses on MachTen were noted.
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