CIBL, Inc. Reports (Unaudited) Second Quarter Operating Results
CIBL, Inc. (OTC Pink: CIBY) has reported unaudited results for Q2 2024. The company's New Hampshire operations, consisting of Bretton Woods Telephone Company and World Surfer, Inc., saw revenues increase to $508,000, up $24,000 from Q2 2023. EBITDA from these operations rose to $150,000, compared to $123,000 in the previous year. CIBL repurchased 269 shares at an average price of $1,816 per share, reducing outstanding shares to 12,399. The company renewed its contract with Omni Mount Washington Resort for another five years. CIBL is also in the process of acquiring a 20% interest in Brick Skirt Holdings, Inc. from LICT for $1,500,000, with 40% already acquired and the remaining 60% expected to be completed in H2 2024.
CIBL, Inc. (OTC Pink: CIBY) ha riportato risultati non verificati per il secondo trimestre del 2024. Le operazioni nel New Hampshire dell'azienda, che comprendono Bretton Woods Telephone Company e World Surfer, Inc., hanno visto un aumento dei ricavi a 508.000 dollari, con un incremento di 24.000 dollari rispetto al secondo trimestre del 2023. L'EBITDA da queste operazioni è salito a 150.000 dollari, rispetto ai 123.000 dollari dell'anno precedente. CIBL ha riacquistato 269 azioni a un prezzo medio di 1.816 dollari per azione, riducendo il numero delle azioni in circolazione a 12.399. L'azienda ha rinnovato il contratto con l'Omni Mount Washington Resort per altri cinque anni. CIBL è anche in procinto di acquisire una partecipazione del 20% in Brick Skirt Holdings, Inc. da LICT per 1.500.000 dollari, avendo già acquisito il 40%, e il restante 60% è previsto per la seconda metà del 2024.
CIBL, Inc. (OTC Pink: CIBY) ha reportado resultados no auditados para el segundo trimestre de 2024. Las operaciones de la compañía en New Hampshire, que consisten en Bretton Woods Telephone Company y World Surfer, Inc., vieron incrementar los ingresos a 508,000 dólares, un aumento de 24,000 dólares en comparación con el segundo trimestre de 2023. El EBITDA de estas operaciones aumentó a 150,000 dólares, en comparación con 123,000 dólares el año anterior. CIBL recompró 269 acciones a un precio promedio de 1,816 dólares por acción, reduciendo las acciones en circulación a 12,399. La compañía renovó su contrato con Omni Mount Washington Resort por otros cinco años. CIBL también está en proceso de adquirir un interés del 20% en Brick Skirt Holdings, Inc. de LICT por 1,500,000 dólares, con el 40% ya adquirido y el 60% restante que se espera completar en la segunda mitad de 2024.
CIBL, Inc. (OTC Pink: CIBY)는 2024년 2분기 비감사 결과를 보고했습니다. 회사의 뉴햄프셔 운영은 Bretton Woods Telephone Company와 World Surfer, Inc.로 구성되며, 수익이 508,000달러로 증가했습니다, 이는 2023년 2분기 대비 24,000달러 증가한 수치입니다. 이 운영의 EBITDA는 150,000달러로 증가했습니다, 지난해 123,000달러와 비교됩니다. CIBL은 주당 평균 1,816달러에 269주를 재매입하여 유통 주식을 12,399주로 줄였습니다. 이 회사는 Omni Mount Washington Resort와의 계약을 추가로 5년 연장했습니다. CIBL은 또한 LICT로부터 Brick Skirt Holdings, Inc.의 20% 지분을 1,500,000달러에 인수하는 과정에 있으며, 이미 40%를 확보했으며 나머지 60%는 2024년 하반기 중 완료될 예정입니다.
CIBL, Inc. (OTC Pink: CIBY) a rapporté des résultats non vérifiés pour le deuxième trimestre de 2024. Les opérations de l'entreprise dans le New Hampshire, qui comprennent Bretton Woods Telephone Company et World Surfer, Inc., ont vu les revenus augmenter à 508.000 dollars, soit une augmentation de 24.000 dollars par rapport au deuxième trimestre de 2023. EBITDA de ces opérations a augmenté à 150.000 dollars, par rapport à 123.000 dollars l'année précédente. CIBL a racheté 269 actions à un prix moyen de 1.816 dollars par action, réduisant les actions en circulation à 12.399. L'entreprise a renouvelé son contrat avec Omni Mount Washington Resort pour cinq années supplémentaires. CIBL est également en train d'acquérir un intérêt de 20 % dans Brick Skirt Holdings, Inc. de LICT pour 1.500.000 dollars, 40 % ayant déjà été acquis et les 60 % restants devant être complétés au second semestre 2024.
CIBL, Inc. (OTC Pink: CIBY) hat nicht geprüfte Ergebnisse für das zweite Quartal 2024 gemeldet. Die Betriebsstätten des Unternehmens in New Hampshire, bestehend aus der Bretton Woods Telephone Company und der World Surfer, Inc., verzeichneten Umsatzsteigerungen auf 508.000 Dollar, was einen Anstieg von 24.000 Dollar im Vergleich zum zweiten Quartal 2023 bedeutet. Das EBITDA aus diesen Betrieben stieg auf 150.000 Dollar, verglichen mit 123.000 Dollar im Vorjahr. CIBL hat 269 Aktien zu einem Durchschnittspreis von 1.816 Dollar pro Aktie zurückgekauft, wodurch die ausstehenden Aktien auf 12.399 reduziert wurden. Das Unternehmen hat seinen Vertrag mit dem Omni Mount Washington Resort um weitere fünf Jahre verlängert. CIBL ist außerdem dabei, ein 20%iges Interesse an Brick Skirt Holdings, Inc. von LICT für 1.500.000 Dollar zu erwerben, wobei bereits 40% erworben wurden und die restlichen 60% im zweiten Halbjahr 2024 abgeschlossen werden sollen.
- Revenue increased by $24,000 to $508,000 in Q2 2024 compared to Q2 2023
- EBITDA from New Hampshire operations improved to $150,000 from $123,000 year-over-year
- Renewed five-year contract with Omni Mount Washington Resort
- Acquiring 20% interest in Brick Skirt Holdings, expanding broadband services to western New York
- Increased capital expenditures from $26,000 in Q2 2023 to $89,000 in Q2 2024
For the three months ended June 30, 2024, the
During 2024, the Company acquired 269 of its shares at an average price of
On March 1, 2024, Bretton Woods Telephone Company’s contract with the Omni Mount Washington Resort LLC was renewed for another five-year term.
On September 27, 2023, the Company announced, subject to regulatory approval, it will acquire 450 shares of Brick Skirt Holdings, Inc. (“Brick Skirt”), representing a
Capital expenditures were
CIBL’s Board of Directors continues to evaluate a broad range of strategic alternatives for the Company in order 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 |
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Attachment A |
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Consolidated Statements of Operations (Unaudited) |
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(In Thousands, Except Common Share and Earnings per Share Data) |
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Revenue |
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Revenue |
$ |
508 |
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$ |
484 |
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$ |
976 |
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$ |
953 |
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Costs and expenses |
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Costs of revenue |
|
296 |
|
|
|
295 |
|
|
|
568 |
|
|
|
567 |
|
General and administrative costs of operations |
|
62 |
|
|
66 |
117 |
127 |
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Corporate office expenses |
|
280 |
|
|
309 |
|
|
|
523 |
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|
560 |
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Depreciation and amortization |
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34 |
|
|
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31 |
|
|
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65 |
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|
|
62 |
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Total Operating expenses |
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672 |
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|
701 |
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|
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1,273 |
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1,316 |
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Operating loss |
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(164 |
) |
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(217 |
) |
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(297 |
) |
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(363 |
) |
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Other income (expense): |
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Investment income |
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266 |
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244 |
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521 |
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|
|
466 |
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Equity in loss of limited partnership investment |
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(127 |
) |
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(30 |
) |
(283 |
) |
(51 |
) |
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Unrealized and realized losses on available for sale equity securities |
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(71 |
) |
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(10 |
) |
(113 |
) |
(40 |
) |
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Total Other income |
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68 |
|
|
204 |
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|
|
125 |
|
|
|
375 |
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Net income (loss) before income taxes |
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(96 |
) |
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(13 |
) |
(172 |
) |
12 |
||||||
Income tax (expense) benefit |
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31 |
|
|
3 |
|
|
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46 |
|
|
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(3 |
) |
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Net income (loss) |
$ |
(65 |
) |
|
$ |
(10 |
) |
|
$ |
(126 |
) |
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$ |
9 |
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Basic and diluted weighted average shares outstanding |
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12,445 |
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12,487 |
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12,554 |
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12,515 |
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Actual shares outstanding |
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12,399 |
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12,436 |
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12,399 |
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12,436 |
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Earnings Per Share |
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Net income (loss) per share |
$ |
(5.22 |
) |
$ |
(0.77 |
) |
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$ |
(10.03 |
) |
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$ |
0.72 |
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CIBL, Inc. and Subsidiaries |
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Attachment B |
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Consolidated Balance Sheets (Unaudited) |
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(In Thousands, Except Common Share Data) |
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June 30, 2024 |
December 31,
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June 30, 2023 |
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Assets |
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Current Assets |
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Cash and cash equivalents |
$ |
1,348 |
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$ |
1,252 |
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$ |
1,727 |
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Investments in |
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18,841 |
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19,046 |
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18,371 |
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Investment in available for sale equity securities |
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279 |
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|
|
551 |
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|
|
703 |
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Investment in equity method limited partnership |
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1,595 |
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1,878 |
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1,693 |
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Accounts receivable |
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221 |
|
|
|
228 |
|
|
|
172 |
|
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Prepaid expenses |
|
71 |
|
|
|
160 |
|
|
|
70 |
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Materials and supplies |
|
59 |
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59 |
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59 |
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Income taxes receivable |
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43 |
|
|
|
45 |
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|
|
69 |
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Total Current Assets |
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22,457 |
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|
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23,219 |
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|
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22,864 |
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Telecommunications, property, plant and equipment, net |
|
771 |
|
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|
646 |
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684 |
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Goodwill |
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337 |
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337 |
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337 |
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Other intangibles, net |
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35 |
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|
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41 |
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|
|
46 |
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Other investments |
|
700 |
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|
|
700 |
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|
|
100 |
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Deferred income taxes |
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41 |
|
|
|
- |
|
|
|
26 |
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Other assets |
|
71 |
|
|
|
71 |
|
|
|
85 |
|
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Total Assets |
$ |
24,421 |
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$ |
25,014 |
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$ |
24,142 |
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Liabilities and Equity |
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Current Liabilities |
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Trade accounts payable and accrued expenses |
$ |
124 |
|
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$ |
76 |
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$ |
53 |
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Accrued liabilities |
|
381 |
|
|
|
371 |
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|
|
303 |
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Total Current Liabilities |
|
505 |
|
|
|
447 |
|
|
|
356 |
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Deferred income taxes |
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- |
|
|
|
37 |
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- |
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Other liabilities |
|
59 |
|
|
|
59 |
|
|
|
70 |
|
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Total Liabilities |
|
564 |
|
|
|
543 |
|
|
|
426 |
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Equity |
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Common stock, par value |
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-- |
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-- |
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-- |
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Contributed capital |
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6,212 |
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|
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6,212 |
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|
|
5,612 |
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Retained earnings |
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37,147 |
|
|
|
37,273 |
|
|
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36,995 |
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Treasury stock, 14,017; 13,748; and 13,680 shares at cost |
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(19,502 |
) |
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|
(19,014 |
) |
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(18,891 |
) |
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Total Equity |
|
23,857 |
|
|
|
24,471 |
|
|
|
23,716 |
|
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Total Liabilities and Equity |
$ |
24,421 |
|
|
$ |
25,014 |
|
|
$ |
24,142 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240802857605/en/
Kenneth D. Masiello
Chief Financial Officer
(775) 664-3700
Source: CIBL, Inc.
FAQ
What was CIBL's revenue for Q2 2024?
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