LICT Q4 revenues up 2.3%

LICT Corporation (OTC: LICT) reported fourth quarter revenues increased by USD0.5 million, or 2.3 percent, to USD22.3 million compared to the corresponding quarter in 2014, the company said.

EBITDA before corporate costs was USD9.3 million, as compared to USD9.4 million in the previous year´s fourth quarter. Allocated Corporate expenses of USD188,000 were reported in the fourth quarter of 2014. This figure included several adjustments and the reversal of certain accrued expenses recorded in prior quarters.

Non-regulated revenues grew by 15.6 percent to USD9.6 million from the prior year´s USD8.3 million due to increased broadband and competitive local exchange carrier (“CLEC”) revenues.

Regulated revenues were USD12.6 million in the third quarter of 2015 versus USD13.4 million the prior year´s quarter reflecting lower intra-state revenues, primarily at our New Mexico operation, and lower interstate revenues across almost all of our operations which was offset by a favorable out of period adjustment of USD0.2 million in 2015.

Earnings during the fourth quarter were USD91 per share in 2015 versus USD101 per share in 2014, a decrease of 9.9 percent. Shares outstanding at December 31, 2015, were 21,739 versus 22,272 at December 31, 2014.

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.