LUBBOCK, TX (KCBD) – One of Lubbock's biggest employers reports a net loss of more than $1.9 million from January through the end of September. However, stockholders are told that the future looks better.
For the moment Xfone, the parent company of NTS, is stretched between customers using old fashioned copper phone lines and those signing up for digital services on a high-tech fiber network.
The copper phone line customer base is shrinking while the fiber customer base expands.
Guy Nissenson, Xfone President, said Tuesday in a written statement, "As expected, we have continued to see solid growth in revenues from our fiber business as we add customers in the Lubbock and Levelland markets."
Nissenson also says growth in the fiber business "improved overall improved gross margins … in the third quarter of 2010"
The company recently broke ground on fiber projects in certain rural communities of Texas and Louisiana, which it calls FTTP or "fiber to the premise."
Nissenson says, "The roll out of FTTP in these markets will be modeled on Levelland, where we completed construction of the network earlier this year and we have been marketing, selling and connecting customers at an encouraging rate, with approximately 40% of residential households and 50% of businesses signing up so far."