NTS parent company writes letter to stockholders - KCBD NewsChannel 11 Lubbock


NTS parent company writes letter to stockholders

LUBBOCK, TX (KCBD) - There was good news Wednesday for stockholders in the parent company of NTS. A letter to stock holders says that the company will get $63.6 million dollars in stimulus grants and long term federal loans. The company will use that money to expand high-speed Internet service into small towns across Texas.

That same letter says the company's high speed Internet in Levelland is going really well and company officials think they'll get 69% of Levelland households to eventually sign up.

There is one word of caution; the company will write off $21 million of goodwill from its books which might show up as a 4th quarter loss. NTS is a major employer in Lubbock and a subsidiary of X-Fone. 

Copyright 2010 KCBD. All rights reserved.

Powered by Frankly