North State Telephone Company Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 19, 2018 at 09:26 am EST
North State Telephone Company reported consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported consolidated net operating revenue of $33.8 million, up 13.8% compared to NOR of $29.7 million a year ago. Total strategic revenue was $25.3 million, up 18.8% compared to total strategic revenue of $21.3 million a year ago. Strategic revenue comprised 75% of NOR compared to 72% of NOR a year ago. Net income of $1.7 million, up 75.5% compared to net income of $1.0 million a year ago. Earnings per share was $0.77 compared to $0.44 a year ago.
For the nine months, the company reported consolidated NOR of $93.5 million, up 7.3% compared to NOR of $87.1 million a year ago. Total strategic revenue was $68.6 million, up 10.8% compared to total strategic revenue of $61.9 million a year ago. Strategic revenue comprised 73% of NOR compared to 71% of NOR a year ago. Net income was $4.3 million, up 26.8% compared to net income of $3.4 million a year ago. Earnings per share was $1.89 compared to $1.49 a year ago.