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 September 30, 2025.
- Revenues increased 6.3% to $557,000 in the third quarter of 2025 from $524,000 in the third quarter 2024
- Earnings per share were $7.46 per share in the third quarter of 2025 compared to $17.35 in the third quarter 2024
- Cash and investments were $19.9 million as of September 30, 2025
- Through September 30, 2025, CIBL repurchased 804 of its common shares at an average price of $1,693 per share. For the year ended December 31, 2024, CIBL repurchased 852 of its common shares at an average price of $1,789 per share.
- Gary Sugarman, a director of LICT Corporation and MachTen, Inc., joined the Board of Directors of CIBL on October 10, 2025
Results from Operations
Three Months Ended September 30, 2025
Revenues increased 6.3% to $557,000 in the third quarter 2025 from $524,000 in the third quarter 2024 due to increased service revenues from broadband, end-user terminals and voice over internet protocol.
EBITDA from operations remained unchanged at $150,000 in the third quarter 2025 compared to the third quarter of 2024 due to the increase in revenues discussed above offset by less capitalized labor for plant under construction and switch replacements.
Six Months Ended September 30, 2025
Revenues increased 7.4% to $1,611,000 for the nine months ended September 30, 2025 from $1,500,000 for the nine months ended September 30, 2024 due to new services, one-time equipment revenues and system upgrades.
EBITDA from operations1 decreased 11.1% to $393,000 for the nine months ended September 30, 2025 from $442,000 for the nine months ended September 30, 2024 due to less capitalized labor for plant under construction and switch replacements.
Other Highlights
Capital expenditures were $76,000 and $411,000 for the nine months ended September 30, 2025, and 2024, respectively.
During the nine months ended September 30, 2025, the Company acquired 804 of its shares at an average price of $1,693 per share. As of September 30, 2025, CIBL has 11,462 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,404 of its shares for $21.9 million, or an average price of $1,422 per share.
As previously announced, Garry Sugarman joined our Board of Directors on October 10, 2025. Mr. Sugarman brings a wealth of industry experience and a long-term familiarity with telecom operations, in particular, in New Hampshire and our investment in Brick Skirt Holdings, Inc.
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.
Attachment A |
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CIBL Inc. and Subsidiaries Consolidated Statements of Income (Unaudited) (USD in thousands, except share data) |
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Three Months Ended September 30, |
|
Nine Months Ended September 30, |
||||||||||||||
|
2025 |
|
|
|
2024 |
|
|
|
|
2025 |
|
|
|
2024 |
|
|
Revenue |
|
|
|
|
|
|
||||||||||
Revenue |
$ |
557 |
|
$ |
524 |
|
|
$ |
1,611 |
|
|
$ |
1,500 |
|
||
|
|
|
|
|
|
|||||||||||
Costs and expenses: |
|
|
|
|
|
|
|
|||||||||
Costs of revenue, excluding depreciation |
|
337 |
|
|
|
316 |
|
|
|
1,019 |
|
|
|
883 |
|
|
General and administrative costs of operations |
|
70 |
|
|
|
58 |
|
|
|
199 |
|
|
|
175 |
|
|
Corporate office expenses |
|
254 |
|
|
223 |
|
|
|
763 |
|
|
|
747 |
|
||
Depreciation and amortization |
|
53 |
|
|
|
35 |
|
|
|
153 |
|
|
|
100 |
|
|
Total operating expenses |
|
714 |
|
|
632 |
|
|
|
2,134 |
|
|
|
1,905 |
|
||
Operating loss |
|
(157 |
) |
|
(108 |
) |
|
|
(523 |
) |
|
|
(405 |
) |
||
Other income (expense): |
|
|
|
|
|
|
||||||||||
Interest income |
|
188 |
|
|
271 |
|
|
|
564 |
|
|
|
792 |
|
||
Equity in earnings (loss) of affiliated companies |
|
98 |
|
|
135 |
|
|
|
231 |
|
|
|
(147 |
) |
||
Unrealized and realized gains (losses) on available for sale securities |
|
(11 |
) |
|
|
(2 |
) |
|
|
9 |
|
|
(115 |
) |
||
Total other income |
|
275 |
|
|
404 |
|
|
|
804 |
|
|
|
530 |
|
||
Income before income taxes |
|
118 |
|
|
296 |
|
|
|
281 |
|
|
|
125 |
|
||
Income tax expense |
|
(32 |
) |
|
(79 |
) |
|
|
(66 |
) |
|
|
(33 |
) |
||
Net income
|
$ |
86 |
|
|
$ |
217 |
|
|
$ |
215 |
|
|
$ |
92 |
|
|
|
|
|
|
|
|
|
|
|||||||||
Basic and diluted weighted average shares outstanding |
|
11,531 |
|
|
12,506 |
|
|
|
11,653 |
|
|
|
12,538 |
|
||
Actual shares outstanding |
|
11,462 |
|
|
12,753 |
|
|
|
11,462 |
|
|
|
12,753 |
|
||
|
|
|
|
|
|
|
|
|||||||||
Earnings per share |
|
|
|
|
|
|
|
|||||||||
Basic and Diluted |
$ |
7.46 |
|
$ |
17.35 |
|
|
$ |
18.45 |
|
|
$ |
7.34 |
|
||
|
|
|
|
|
|
|
|
|||||||||
Attachment B |
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CIBL Inc. and Subsidiaries Consolidated Balance Sheets (Unaudited) (USD in thousands, except share data) |
|||||||||||
September 30,
|
December 31,
(Audited) |
|
September 30,
|
||||||||
Assets |
|
|
|||||||||
Current assets |
|
|
|||||||||
Cash and cash equivalents |
$ |
1,714 |
|
|
$ |
2,341 |
|
|
$ |
1,298 |
|
Investments in United States Treasury Bills |
|
15,304 |
|
|
|
16,598 |
|
|
|
18,691 |
|
Investment in available for sale securities |
|
84 |
|
|
|
294 |
|
|
|
276 |
|
Investment in equity method limited partnership |
|
1,755 |
|
|
|
1,645 |
|
|
|
1,721 |
|
Accounts receivable |
|
232 |
|
|
|
284 |
|
|
|
228 |
|
Prepaid expenses |
|
23 |
|
|
|
192 |
|
|
|
34 |
|
Materials and supplies |
|
59 |
|
|
|
59 |
|
|
|
59 |
|
Income taxes receivable |
|
24 |
|
|
|
- |
|
|
|
21 |
|
Total current assets |
|
19,195 |
|
|
|
21,413 |
|
|
|
22,328 |
|
|
|
|
|
|
|||||||
Telecommunications, property, plant and equipment, net |
|
889 |
|
|
|
958 |
|
|
|
986 |
|
Goodwill |
|
337 |
|
|
|
337 |
|
|
|
337 |
|
Other intangibles, net |
|
22 |
|
|
|
30 |
|
|
|
33 |
|
Other investments |
|
2,757 |
|
|
|
1,636 |
|
|
|
1,609 |
|
Deferred income taxes |
|
14 |
|
|
|
39 |
|
|
|
15 |
|
Other assets |
|
59 |
|
|
|
59 |
|
|
|
71 |
|
Total assets |
$ |
23,273 |
|
|
$ |
24,472 |
|
|
$ |
25,379 |
|
|
|
|
|
|
|
||||||
Liabilities |
|
|
|
|
|
||||||
Current liabilities |
|
|
|
|
|
||||||
Income taxes payable |
$ |
-- |
|
|
$ |
14 |
|
|
$ |
-- |
|
Trade accounts payable and accrued expenses |
|
111 |
|
|
|
138 |
|
|
|
152 |
|
Accrued liabilities |
|
301 |
|
|
|
284 |
|
|
|
367 |
|
Total current liabilities |
|
412 |
|
|
|
436 |
|
|
|
519 |
|
Other liabilities |
|
46 |
|
|
|
46 |
|
|
|
59 |
|
Total liabilities |
|
458 |
|
|
|
482 |
|
|
|
578 |
|
|
|
|
|
|
|||||||
Equity |
|
|
|
|
|
||||||
Common stock, par value $.01, 30,000 shares authorized; 26,865 issued; and 11,462, 12,266 and 12,753 outstanding |
|
-- |
|
|
|
-- |
|
|
|
-- |
|
Contributed capital |
|
7,112 |
|
|
|
7,112 |
|
|
|
7,112 |
|
Retained earnings |
|
37,631 |
|
|
|
37,416 |
|
|
|
37,365 |
|
Treasury stock, 15,404; 14,600; and 14,113 shares at cost |
|
(21,928 |
) |
|
|
(20,538 |
) |
|
|
(19,676 |
) |
Total equity |
|
22,815 |
|
|
|
23,990 |
|
|
|
24,801 |
|
Total liabilities and equity |
$ |
23,273 |
|
|
$ |
24,472 |
|
|
$ |
25,379 |
|
Attachment C |
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CIBL Inc. and Subsidiaries EBITDA Reconciliation (Unaudited) (USD in thousands) |
|||||||||||||||
The following table is a reconciliation of Net income to EBITDA from operations: |
|||||||||||||||
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|||||||||||||
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
||||||||||
Net income |
$ |
86 |
|
$ |
217 |
|
|
$ |
215 |
|
|
$ |
92 |
|
|
|
|
|
|
|
|||||||||||
Adjustments: |
|
|
|
|
|
|
|||||||||
Interest income |
|
(188 |
) |
|
|
(271 |
) |
|
|
(564 |
) |
|
|
(792 |
) |
Income tax expense |
|
32 |
|
|
|
79 |
|
|
|
66 |
|
|
|
33 |
|
Depreciation and amortization |
|
53 |
|
|
|
35 |
|
|
|
153 |
|
|
|
100 |
|
Total adjustments |
|
(103 |
) |
|
|
(157 |
) |
|
|
(345 |
) |
|
|
(659 |
) |
EBITDA |
|
(17 |
) |
|
|
60 |
|
|
|
(130 |
) |
|
|
(567 |
) |
Corporate office expenses |
|
254 |
|
|
|
223 |
|
|
|
763 |
|
|
|
747 |
|
Equity in (earnings) loss of affiliated companies |
|
(98 |
) |
|
|
(135 |
) |
|
|
(231 |
) |
|
|
147 |
|
Unrealized and realized (gains) losses on available for sale securities |
|
11 |
|
|
|
2 |
|
|
|
(9 |
) |
|
|
115 |
|
EBITDA from operations |
$ |
150 |
|
|
$ |
150 |
|
|
$ |
393 |
|
|
$ |
442 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20251103355584/en/
Contacts
Kenneth D. Masiello
Chief Financial Officer
November 3, 2025
(775) 664-3700