CIBL, Inc. Reports Second Quarter Operating Results

Aug 15 2025 17:57 BST

RENO, Nev.--(BUSINESS WIRE)--Aug. 15, 2025-- CIBL, Inc. (“CIBL” or the “Company”; OTC Pink ®: CIBY), a holding company with interests in broadband operations in New Hampshire, reported its financial results for the quarter ended June 30, 2025.

Revenues increased 4.1% to $529,000 in the second quarter of 2025 from $508,000 in the second quarter 2024
Earnings per share were $5.60 per share in the second quarter of 2025 compared to a loss per share of $5.22 in the second quarter 2024
Cash and investments, net of zero debt, were $20,452 as of June 30, 2025
Christopher Nossokoff joined CIBL as a mergers and acquisitions advisor to provide and accelerate our interest in non-organic growth

Results from Operations

Three Months Ended June 30, 2025

Revenues increased 4.1% to $529,000 in the second quarter 2025 from $508,000 in the second quarter 2024 due to increased service revenues from broadband, end-user terminals and voice over internet protocol.

EBITDA from operations ¹ decreased 21.3% to $118,000 in the second quarter 2025 compared to $150,000 in the second quarter 2024 due to less capitalized labor for plant under construction and switch replacements.

Six Months Ended June 30, 2025

Revenues increased 7.9% to $1,053,000 for the six months ended June 30, 2025 from $976,000 for the six months ended June 30, 2024 due to new services, one-time equipment revenues and system upgrades.

EBITDA from operations ¹ decreased 16.8% to $242,000 for the six months ended June 30, 2025 from $291,000 for the six months ended June 30, 2024 due to the increase in revenues discussed above partially offset by less capitalized labor for plant under construction and switch replacements.

_______________

¹ A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided at the end of this press release.

Other Highlights

Capital expenditures were $45,000 and $164,000 for the six months ended June 30, 2025, and 2024, respectively.

During the six months ended June 30, 2025, the Company acquired 725 of its shares at an average price of $1,690 per share. As of June 30, 2025, CIBL has 11,541 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,325 of its shares for $21.8 million, or an average price of $1,420 per share.

CIBL’s Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value.

About CIBL, Inc.

CIBL is a holding company with interests in broadband operations. CIBL’s operations consist of Bretton Woods Telephone Company and World Surfer, Inc. providers of broadband and communication services in Northern New Hampshire. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: www.ciblinc.com.

Cautionary Note Concerning Forward-Looking Statements

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 Inc. and Subsidiaries							Attachment A
Consolidated Statements of Operations (Unaudited)
(USD in thousands, except share data)

	Three Months Ended J une 30,						Six Months Ended J une 30,
	2025			2024			2025			2024
Revenue
Revenue	$	529		$	508		$	1,053		$	976

Costs and expenses:
Costs of revenue, excluding depreciation		341			296			682			568
General and administrative costs of operations		70			62			129			117
Corporate office expenses		273			280			509			523
Depreciation and amortization		52			34			100			65
Total operating expenses		736			672			1,420			1,273
Operating loss		(207	)		(164	)		(367	)		(297	)
Other income (expense):
Interest income		185			266			377			521
Equity in earnings of affiliated companies		107			(127	)		133			(283	)
Unrealized and realized losses on available for sale equity securities		-			(71	)		20			(113	)
Total other income		292			68			530			125
Income (loss) before income taxes		85			(96	)		163			(172	)
Income tax (expense) benefit		(20	)		31			(34	)		46
Net income (loss)	$	65		$	(65	)	$	129		$	(126	)

Basic and diluted weighted average shares outstanding		11,606			12,445			11,715			12,554
Actual shares outstanding		11,541			12,399			11,541			12,399

Earnings (loss) per share
Basic and Diluted	$	5.60		$	(5.22	)	$	11.01		$	(10.03	)

CIBL Inc. and Subsidiaries							Attachment B
Consolidated Balance Sheets (Unaudited)
(USD in thousands, except share data)

	June 30, 2025			December 31, 2024 ( Audited)			June 30, 2024
Assets
Current assets
Cash and cash equivalents	$	1,594		$	2,341		$	1,348
Investments in United States Treasury Bills		16,550			16,598			18,841
Investment in available for sale equity securities		44			294			279
Investment in equity method limited partnership		1,706			1,645			1,595
Accounts receivable		253			284			221
Prepaid expenses		94			192			71
Materials and supplies		59			59			59
Income taxes receivable		37			-			43
Total current assets		20,337			21,413			22,457

Telecommunications, property, plant and equipment, net		907			958			771
Goodwill		337			337			337
Other intangibles, net		25			30			35
Other investments		1,708			1,636			700
Deferred income taxes		34			39			50
Other assets		59			59			71
Total assets	$	23,407		$	24,472		$	24,421

Liabilities
Current liabilities
Income taxes payable	$	--		$	14		$	--
Trade accounts payable and accrued expenses		142			138			124
Accrued liabilities		353			284			381
Total current liabilities		495			436			505
Other liabilities		46			46			59
Total liabilities		541			482			564

Equity
Common stock, par value $.01, 30,000 shares authorized; 26,865, 26,865 and 26,415 issued; and 11,541, 12,266 and 12,399 outstanding		--			--			--
Contributed capital		7,112			7,112			6,212
Retained earnings		37,545			37,416			37,147
Treasury stock, 15,325; 14,600; and 14,017 shares at cost		(21,791	)		(20,538	)		(19,502	)
Total equity		22,866			23,990			23,857
Total liabilities and equity	$	23,407		$	24,472		$	24,421

CIBL Inc. and Subsidiaries							Attachment C
EBTIDA Reconciliation (Unaudited)
(USD in thousands, except share data)

The following table is a reconciliation of EBITDA from operations to Net income (loss):

	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024

Net income (loss)	$	65		$	(65	)	$	129		$	(126	)

Adjustments:
Interest income		(185	)		(266	)		(377	)		(521	)
Income tax expense (benefit)		20			(31	)		34			(46	)
Depreciation and amortization		52			34			100			65
Total adjustments		(113	)		(263	)		(243	)		(502	)
EBITDA		(48	)		(328	)		(114	)		(628	)
Corporate office expenses		273			280			509			523
Equity in earnings of affiliated companies		(107	)		127			(133	)		283
Unrealized and realized losses on available for sale equity securities		-			71			(20	)		113
EBITDA from operations	$	118		$	150		$	242		$	291

View source version on businesswire.com: https://www.businesswire.com/news/home/20250813891452/en/

Kenneth D. Masiello
Chief Financial Officer
(775) 664-3700

Source: CIBL, Inc.

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CIBL, Inc. Reports Second Quarter Operating Results