NTS, one of Lubbock's largest employers with 250 or more employees at any given time, reported a net income of $73,000 for the second quarter. In essence, the company broke even.
But that's a tremendous improvement as NTS began to lose money like so many other companies in the recession that started in late 2007. The company issued a written statement to shareholders Tuesday saying that revenue from FTTP or Fiber-To-The-Premise is up more than 48%. FTTP supports high-speed Internet, phone service, and digital video.
The company said Tuesday, "During the second quarter, NTS began signing up fiber customers in Wilson, Meadow, Lamesa and Ropesville, Texas."
NTS also said, "The Company now has a fiber presence in 13 communities in Texas and continues to make solid progress marketing and signing up new subscribers"
The federal government has provided NTS with $99.9 million in stimulus money for the build-up of the FTTP network, less than half of which is grant money and a little more than half of it is in the form of low-interest loans.
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