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CIBL, Inc. Reports First Quarter Operating Results

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First Quarter Highlights

  • Revenue: First-quarter revenues increased 12.2% to $525,000, up from $468,000 in the prior year
  • Earnings Per Share: First-quarter earnings per share were $5.50 per share, up 216% from ($4.74) per share in the same period last year
  • Liquid value per share rose to $1,774

RENO, Nev.--(BUSINESS WIRE)-- CIBL, Inc. (“CIBL� or the “Company�; OTC Pink ®: CIBY) reports unaudited financial results for the quarter ended March 31, 2025, of its operations which consist of Bretton Woods Telephone Company and World Surfer, Inc. providers of broadband and communication services in Northern New Hampshire (“New Hampshire Operations�).

First-quarter revenues from our New Hampshire Operations increased 12.2% to $525,000, up from $468,000 in the prior year due to increased service revenues from broadband, end-user terminals and voice over internet protocol. Operational EBITDA declined 12% to $125,000 in the first-quarter, compared to $142,000 in the same period last year due to less capitalized labor for plant under construction and switch replacements in the current year period.

Balance Sheet Highlights � (In Thousands of USD)

Ìý Ìý Ìý

Cash and Liquid Assets � (b)

Ìý

March 31,
2025

Ìý

December 31,
2024

Ìý

Ìý

Ìý

Ìý

Ìý

Cash and cash equivalents

Ìý

$514

Ìý

$1,453

Investments in US Treasury Bills

Ìý

16,860

Ìý

16,598

Investments in available for sale equity securities

Ìý

44

Ìý

294

Investments in equity method limited partnership

Ìý

1,630

Ìý

1,645

Other Investments � (a)

Ìý

1,678

Ìý

1,636

Total cash and liquid assets

Ìý

$20,726

Ìý

$21,626

Shares Outstanding

Ìý

11,680

Ìý

12,266

Liquid value per share (a) (b)

Ìý

$1,774

Ìý

$1,763

(a) Consists of Brick Skirt 20% equity method - $1,578 and Solix, Inc. 1.43% cost method - $100

(b) Excludes the assets of the New Hampshire operations of Bretton Woods Telephone Company and World Surfer, Inc.

Other Highlights

Capital expenditures were $24,000 and $75,000 for the quarters ending March 31, 2025, and 2024, respectively.

During the quarter ended March 31, 2025, the Company acquired 586 of its shares at an average price of $1,699 per share. At March 31, 2025, CIBL has 11,680 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,186 of its shares for $21.5 million, or an average price of $1,418 per share.

CIBL’s Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value.

To the extent this release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, it should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, . Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate.

CIBL is a holding company with interests in broadband operations. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: .

CIBL, Inc. and Subsidiaries

Consolidated Statements of Operations (Unaudited)

(In Thousands, Except Common Share and Earnings per Share Data)Ìý

Attachment A

ÌýThree Months Ended
March 31,

2025

2024

Revenue

Ìý

Ìý

Revenue

$525

$468

Ìý

Ìý

Costs and expenses

Ìý

Ìý

Operating costs, excluding depreciation

341

271

General and administrative costs of operations

59

55

Corporate office expenses

236

244

Depreciation and amortization

48

31

Total Operating expenses

684

601

Operating loss

(159)

(133)

Other income (expense):

Ìý

Ìý

Interest income

192

256

Equity in earnings of affiliated companies

26

(156)

Unrealized and realized gain (loss) on available for sale equity securities

20

(42)

Total Other income

238

58

Income (loss) before income taxes

79

(75)

Income tax (expense) benefit

(14)

15

Net income (loss)

$65

($60)

Ìý

Ìý

Ìý

Ìý

Ìý

Basic and diluted weighted average shares outstanding

11,824

12,664

Actual shares outstanding

11,680

12,647

Ìý

Ìý

Per Share

Ìý

Ìý

Net income (loss) per share

$5.50

($4.74)

Ìý

Ìý

CIBL, Inc. and Subsidiaries

Consolidated Balance Sheets (Unaudited)

(In Thousands, Except Common Share)

Attachment B

March 31,
2025

December 31,
2024

Ìý

March 31,
2024

Assets

Ìý

Ìý

Ìý

Current Assets

Ìý

Ìý

Ìý

Cash and cash equivalents

$1,583

Ìý

$2,341

Ìý

$1,281

Investments in United States Treasury Bills

16,860

Ìý

16,598

Ìý

19,126

Investment in available for sale equity securities

44

Ìý

294

Ìý

509

Investment in equity method limited partnership

1,630

Ìý

1,645

Ìý

1,722

Accounts receivable

223

Ìý

284

Ìý

226

Prepaid expenses

138

Ìý

192

Ìý

127

Materials and supplies

59

Ìý

59

Ìý

59

Income taxes receivable

-

Ìý

-

Ìý

35

Total Current Assets

20,537

Ìý

21,413

Ìý

23,085

Ìý

Ìý

Ìý

Ìý

Ìý

Telecommunications, property, plant and equipment, net

937

Ìý

958

Ìý

693

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Goodwill

337

Ìý

337

Ìý

337

Other intangibles, net

27

Ìý

30

Ìý

38

Other investments

1,678

Ìý

1,636

Ìý

700

Deferred income tax

45

Ìý

39

Ìý

5

Other assets

59

Ìý

59

Ìý

71

Total Assets

$23,620

Ìý

$24,472

Ìý

$24,929

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Liabilities and Equity

Ìý

Ìý

Ìý

Ìý

Ìý

Current Liabilities

Ìý

Ìý

Ìý

Ìý

Ìý

Income taxes payable

$58

Ìý

$14

Ìý

-

Accounts payable and accrued expenses

$138

Ìý

138

Ìý

$152

Accrued liabilities

344

Ìý

284

Ìý

346

Total Current Liabilities

540

Ìý

436

Ìý

498

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Other liabilities

46

Ìý

46

Ìý

59

Total Liabilities

586

Ìý

482

Ìý

557

Ìý

Ìý

Ìý

Ìý

Ìý

Equity

Ìý

Ìý

Ìý

Ìý

Ìý

Common stock, par value $.01, 30,000 shares authorized; 26,865, 26,865 and 26,415 issued; and 11,680; 12,266; and 12,647 outstanding

--

Ìý

--

Ìý

--

Contributed capital

7,112

Ìý

7,112

Ìý

6,212

Retained earnings

37,481

Ìý

37,416

Ìý

37,213

Treasury stock, 15,186; 14,600; and 13,769 shares at cost

(21,559)

Ìý

(20,538)

Ìý

(19,053)

Total Equity

23,034

Ìý

23,990

Ìý

24,372

Total Liabilities and Equity

$23,620

Ìý

$24,472

Ìý

$24,929

Ìý

Kenneth D. Masiello

Chief Financial Officer

(775) 664-3700

Source: CIBL, Inc.

Cibl Inc

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