By James Clark - email
LUBBOCK, TX (KCBD) - Lubbock phone, Internet, and digital video provider NTS reports a net loss for its parent company Xfone. The company announced a $3.6 million loss for the 4th quarter, and a net loss of $5.6 million for all of 2010. The losses were down substantially from 2009.
The company's statement says 2010 was a good year for Xfone, which has completed a fiber optic network in Levelland and is using a combination of federal grants and loans to roll out fiber in several small Texas communities.
"2010 demonstrated solid revenue growth in our fiber business attributed primarily to the completion of our build-out in the Levelland market where we have steadily increased our customer base," says Xfone's President and CEO, Guy Nissenson.
Xfone reports a 25% increase in sales from customers on the new high-tech fiber network. However, overall sales are down 4 percent due to a loss of customers who want phone service. The company refers to the loss of sales from its residential copper network (old fashioned phone service) as "anticipated."
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