Otelco Reports First Quarter 2020 Operational and Financial Results
OTELCO (OTEL)
US:NASDAQ Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=184665&p=irol-irhome
Company Research
Source: GlobeNewswire
ONEONTA, Ala., May 04, 2020 (GLOBE NEWSWIRE) -- Otelco Inc. (NASDAQ: OTEL) (“Otelco” or the “Company”), a wireline telecommunications services provider in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia, today announced operational and financial results for its first quarter ended March 31, 2020. Key operational and financial highlights for Otelco include: Total revenues of $15.4 million for first quarter 2020.Operating income of $3.3 million for first quarter 2020.Net income of $2.2 million for first quarter 2020.Consolidated EBITDA (as defined below) of $6.1 million for first quarter 2020.Scheduled principal payments of $1.1 million in first quarter 2020 reduced debt to $69.1 million at the end of first quarter 2020. FIRST QUARTER 2020 RESULTS The Company continued to execute on its strategy of fiber deployment and data speed enhancement in first quarter 2020. Revenues for first quarter 2020 declined $0.3 million, or 2.1%, from first quarter 201
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