NTS reports 3rd quarter profit, progress - KCBD NewsChannel 11 Lubbock

NTS reports 3rd quarter profit, progress

LUBBOCK, TX (KCBD) -

After several quarters of losing money, the parent company of NTS is showing a profit.  Xfone posted results last week which show third quarter income of $871,127, or 4 cents per share. 

The company has been slowly clawing its way out of losses which began during the 2007 recession.  Xfone says much of its new income is derived from high speed Internet and digital video made possible by a new fiber network.  Xfone has also received a combination of loans and grants from the federal government in exchange for providing service to rural communities.  While Xfone was profitable for the 3rd quarter, it is not yet profitable for the entire year.  

A statement to shareholders says, "During the quarter, Xfone brought its FTTP network to two new markets, Burkburnett and Brownfield."  That same statement goes on to say, "Xfone continued to make excellent progress in the Littlefield, Texas market."

Copyright 2011 KCBD NewsChannel 11.  All rights reserved.

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