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 Corporation (OTC Pink: LICT) announces the appointment of Kevin Errity as Chief Operating Officer, bringing nearly 30 years of telecommunications experience.
Errity has held executive roles at AT&T, ExteNet Systems, and was instrumental in the growth of PAETEC Communications into a $2 billion company before its merger with Windstream Communications.
Chairman Mario J. Gabelli expressed confidence in Errity's ability to enhance LICT's executive team and drive business development.
LICT Corporation (OTC Pink: LICT) announced its first quarter financial results for 2021, showing revenues of $32.0 million, a year-over-year increase from $30.0 million. Non-regulated revenues rose 13% to $16.4 million, primarily from broadband sales. Earnings per share increased to $378 from $324 in 2020. The Company continues to pursue broadband expansion and has initiated a strategic review for potential growth avenues. LICT also reported a strong cash position of $22.1 million and capital expenditures of $7.1 million for the quarter.
LICT Corporation (OTC Pink: LICT) has initiated a strategic review aimed at enhancing shareholder value. The Board of Directors is exploring various measures, including the creation of a Special Purpose Acquisition Corporation (SPAC), potential spin-offs of subsidiaries, and strategic acquisitions. Historical spin-offs from LICT have previously resulted in substantial share value increases for shareholders. The Corporation is committed to analyzing its portfolio for opportunities to expand and accelerate growth.
LICT Corporation (OTC Pink: LICT) announces that 8,700 shares are now eligible for its Shareholder Charitable Contribution program. Each registered shareholder can designate a charity to receive a $100 donation per share. Forms have been mailed to eligible shareholders and must be returned by March 8, 2021. The Board of Directors plans to repeat the program this year. Over the past four years, LICT has donated more than $5.5 million to charities. Only recognized 501(c)(3) charities are eligible to receive donations. Further details can be found at Guidestar.org.
LICT Corporation (OTC Pink: LICT) released its unaudited financial results for 2020, reporting revenues of $124.1 million and EBITDA of $57.6 million, reflecting year-on-year increases. Q4 revenues rose to $31.3 million, driven by a 14% increase in non-regulated revenues to $16.2 million. However, regulated revenues decreased to $15.1 million. The company improved its cash position to $24.1 million as of year-end. For 2021, LICT projects revenues between $127 million and $131 million. Its broadband deployment expanded significantly, with broadband lines growing by 12.5%.
LICT Corporation (OTC Pink: LICT) is extending its Shareholder Charitable Contribution program, allowing registered shareholders to designate a charity for a $100 per share donation. Over the last four years, the company has contributed more than $5.5 million to various charities. Shareholders must register their shares by February 12, 2021, to participate. If all shares are registered, the total contribution could reach approximately $2.2 million. Donations will only be made to IRS-recognized 501(c)(3) organizations, with a list of eligible charities available on Guidestar.org.