Xfone, NTS report loss largely due to one time write off - KCBD NewsChannel 11 Lubbock

4/4/10

Xfone, NTS report loss largely due to one time write off

By James Clark | email

LUBBOCK, TX (KCBD) – One of Lubbock's biggest employers reported a net loss this week. Xfone is the parent company of NTS Communications. The company reported a $22 million loss for 2009. 

That includes a one-time write off of $21 million in good will. The company sold off certain assets in the United Kingdom this last year and thanks in part of federal grants and loans, it continues development of high speed fiber Internet and digital video services to rural communities in Texas.

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