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 (symbol: LICT) is a prominent telecommunications company headquartered at 401 Theodore Fremd Ave, Rye, New York, United States. LICT stands for Local Internet and Communications Technologies, and the company specializes in providing high-quality broadband and voice services. They are committed to enhancing connectivity and communication in rural and suburban areas.
Core Business: LICT Corporation focuses on delivering reliable and efficient telecommunications services. Their offerings include high-speed internet, voice, and data services which are crucial for residential, business, and governmental customers in less densely populated regions.
Recent Achievements: LICT has recently expanded its broadband services, enhancing internet speeds and reliability for thousands of customers. This expansion is part of their ongoing project to bridge the digital divide in underserved communities. The company has also invested in the latest fiber-optic technology to ensure faster and more reliable connections.
Current Projects: At present, LICT is working on several infrastructure projects aimed at expanding its fiber-optic network. These projects are designed to bring state-of-the-art telecommunications services to more rural areas. Additionally, they are exploring partnerships with local governments to support community development through better connectivity.
Financial Condition: LICT Corporation has demonstrated a stable financial performance, showing consistent revenue growth over recent quarters. This financial stability allows them to invest in cutting-edge technologies and expand their service footprint.
Partnerships and Products: LICT collaborates with various technology partners to offer cutting-edge products and services. Their portfolio includes broadband internet, dedicated voice lines, managed IT services, and more. These partnerships ensure that LICT can provide comprehensive communication solutions tailored to the needs of their diverse customer base.
In summary, LICT Corporation is a key player in the telecommunications sector, with a strong focus on improving connectivity in rural and suburban areas. Their continuous investments in technology and infrastructure underscore their commitment to delivering superior communication services.
LICT Corporation (OTC Pink: LICT) reports record unaudited financial results for Q3 2021, highlighting a 9% increase in non-regulated revenues to $17.1 million, driven by broadband services. Regulated revenues fell to $15.2 million from $16.5 million due to DSL detariffing. Overall revenues were $32.3 million, slightly up from $32.2 million last year. Earnings per share declined to $342 from $371. LICT's capital expenditures rose to $8.1 million, with an increased guidance for total capex to $31-33 million. Broadband penetration improved to 93.3%, and the company continues its participation in the Emergency Broadband Benefit Program.
LICT Corporation (OTC Pink: LICT) is set to continue its Shareholder Charitable Contribution program, allowing registered shareholders to designate charities for the company to donate $100 per share. More details regarding the timing and mechanics are expected by year-end. LICT has contributed over $6 million in charitable donations over the past five years. The company emphasizes the importance of charitable giving and has pledged to support 501(c)3 charities selected by both shareholders and employees. Forward-looking statements regarding financial outcomes are included in the release.
LICT Corporation (OTC Pink: LICT) has received an offer to purchase all outstanding shares of its stock. The proposed price exceeds the current market value, but the Board believes it falls short of the company's intrinsic value. The company is continuing its financial engineering initiatives. Shareholders are advised that no further updates on the offer will be provided until the conclusion of Auction 110. The announcement also includes a caution regarding forward-looking statements and the uncertainties that may affect potential transactions.
LICT Corporation (OTC Pink: LICT) announces the immediate resignation of Gary L. Sugarman from its Board of Directors, effective immediately. This decision was prompted by the FCC's Rule Section 20.22(b)(4)i, which limits the spectrum options for companies where board members have attributable interests. Mr. Sugarman has had a significant impact on LICT since rejoining in 2019, previously serving as an advisor and director. His departure raises potential concerns for LICT's strategic direction regarding spectrum auctions. The company will address the vacancy appropriately.
LICT Corporation reported unaudited financial results for Q2 2021, showing revenues of $32.3 million, an increase from $30.5 million in Q2 2020. EBITDA rose to $14.8 million from $13.8 million. Non-regulated revenues, driven by broadband sales, increased by 12% to $16.8 million. Regulated revenues remained flat at $15.5 million. The company acquired NeboNet, enhancing its broadband network in Utah. Earnings per share rose to $346 from $307. The 2021 revenue guidance remains $127-$131 million.
LICT Corporation has announced an increase in its stock repurchase authorization to a total of 1,000 shares, up from 335 shares remaining. The company believes the current market undervalues its long-term prospects, prompting this continuation of the buyback program. LICT is actively seeking to enhance shareholder value through growth across its subsidiaries in broadband and telecommunications, while also exploring potential acquisitions.
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.
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