RENO, Nev.--(BUSINESS WIRE)-- CIBL, Inc. (“CIBL” or the “Company”; OTC Pink ®: CIBY), announced second quarter 2026 financial and operating results.
Second Quarter 2026 Highlights
- Revenues increased 34.8% to $713,000 in the second quarter of 2026 from $529,000 in the second quarter of 2025
- EBITDA from operations increased 62.7% to $192,000 from $118,000
- Net income was $48,000 in the second quarter of 2026 compared to $65,000 in the second quarter of 2025
- Earnings per share were $4.42 per share in the second quarter of 2026 compared to $5.60 per share in the second quarter of 2025
- Cash and investments were $18.9 million or $1,738 per share as of June 30, 2026
- CIBL repurchased 37 of its common shares at an average price of $1,707 per share in the second quarter of 2026
Six Months Ending June 30, 2026 Highlights
- Revenues increased 27.7% to $1,345,000 for the six months ending June 30, 2026 from $1,053,000 for the six months ending June 30, 2025
- EBITDA from operations increased 59.0% to $385,000 from $242,000
- Net income was $91,000 for the six months ending June 30, 2026 compared to $129,000 for the six months ending June 30, 2025
- Earnings per share were $8.32 per share for the six months ending June 30, 2026 compared to $11.01 for the six months ending June 30, 2025
- CIBL repurchased 394 of its common shares at an average price of $1,713 per share for the six months ending June 30, 2026
Results from Operations
Three Months Ended June 30, 2026
Revenues increased 34.8% to $713,000 in the second quarter of 2026 from $529,000 in the second quarter of 2025 due to increased service revenues primarily due to a one-time project.
EBITDA from operations increased 62.7% to $192,000 for the second quarter ended June 30, 2026 from $118,000 for the second quarter ended June 30, 2025 due to the increase in revenues discussed above partially offset by less capitalized labor for plant under construction and switch replacements.
Other income decreased $120,000 to $172,000 for the second quarter ending June 30, 2026 from $292,000 for the second quarter ending June 30, 2025. The decrease was primarily due to deceases in the Company’s equity in earnings of affiliated companies and lower yields on U.S. Treasuries.
Six Months Ended June 30, 2026
Revenues increased 27.7% to $1,345,000 for the six months ending June 30, 2026 from $1,053,000 for the six months ending June 30, 2025 due to increased service revenues primarily due to a one-time project.
EBITDA from operations increased 59.0% to $385,000 for the six months ending June 30, 2026 from $242,000 for the six months ending June 30, 2025 due to the increase in revenues discussed above partially offset by less capitalized labor for plant under construction and switch replacements.
Other income decreased $191,000 to $339,000 for the six months ending June 30, 2026 from $530,000 for the six months ending June 30, 2025. The decrease was primarily due to deceases in the Company’s equity in earnings of affiliated companies and lower yields on U.S. Treasuries.
Other Highlights
Capital expenditures were $42,000 and $45,000 for the six months ending June 30, 2026, and 2025, respectively.
On September 24, 2025, CIBL acquired 100,000 shares of The Gabelli Global Small and Mid Cap Value Trust Series E Cumulative Preferred Shares (“Preferred Shares”) at a cost of $10 per share. These Preferred Shares included a dividend of 5.2% per annum payable semiannually (March and September) with mandatory and optional redemptions by the issuer on September 26, 2027, and September 27, 2026, respectively. These Preferred Shares include an optional put by the Company on March 26, 2026, September 26, 2026, and March 26, 2027. As of December 31, 2025, these Preferred Shares are included in other investments with an aggregate fair value of $1,000,000.
The optional put on these Preferred Shares was exercised on March 26, 2026, and the Company received proceeds of $1,000,000 on April 2, 2026. The Company received dividends from these Preferred Shares of $26,000 for the period held.
On March 19, 2026, CIBL’s Board of Directors authorized the Company to repurchase up to an additional 500 of its common shares.
During the quarter ending June 30, 2026, the Company acquired 37 of its shares at an average price of $1,707 per share. As of June 30, 2026, CIBL has 10,850 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 16,016 of its shares for $22.9 million, or an average price of $1,433 per share. As of June 30, 2026, there were 580 shares remaining to be purchased under the Company’s share repurchase program.
CIBL’s Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value.
About CIBL, Inc.
CIBL is a holding company with interests in broadband operations. CIBL’s operations consist of Bretton Woods Telephone Company and World Surfer, Inc. and Brick Skirt, providers of broadband and communication services in Northern New Hampshire and Western New York State, respectively. CIBL is listed on OTC Pink® under the symbol CIBY, and information can be obtained on our website: www.ciblinc.com.
Cautionary Note Concerning Forward-Looking Statements
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, www.ciblinc.com. 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.
Three Months Ended June 30, |
Six Months Ended June 30, |
||||||||||||||||
2026 |
2025 |
2026 |
2025 |
||||||||||||||
Revenue |
|||||||||||||||||
Revenue |
$ |
713 |
$ |
529 |
$ |
1,345 |
$ |
1,053 |
|||||||||
Costs and expenses: |
|||||||||||||||||
Costs of revenue, excluding depreciation |
456 |
341 |
831 |
682 |
|||||||||||||
General and administrative costs of operations |
64 |
70 |
129 |
129 |
|||||||||||||
Corporate office expenses |
245 |
273 |
488 |
509 |
|||||||||||||
Depreciation and amortization |
57 |
52 |
114 |
100 |
|||||||||||||
Total operating expenses |
822 |
736 |
1,562 |
1,420 |
|||||||||||||
Operating loss |
(109 |
) |
(207 |
) |
(217 |
) |
(367 |
) |
|||||||||
Other income (expense): |
|||||||||||||||||
Interest income |
142 |
185 |
291 |
377 |
|||||||||||||
Equity in earnings of affiliated companies |
23 |
107 |
74 |
133 |
|||||||||||||
Unrealized and realized gains (losses) on available for sale equity securities |
7 |
- |
(26 |
) |
20 |
||||||||||||
Total other income |
172 |
292 |
339 |
530 |
|||||||||||||
Income before income taxes |
63 |
85 |
122 |
163 |
|||||||||||||
Income tax expense |
15 |
20 |
31 |
34 |
|||||||||||||
Net income |
$ |
48 |
$ |
65 |
$ |
91 |
$ |
129 |
|||||||||
Basic and diluted weighted average shares outstanding |
10,855 |
11,606 |
10,942 |
11,715 |
|||||||||||||
Actual shares outstanding |
10,850 |
11,541 |
10,850 |
11,541 |
|||||||||||||
Earnings per share |
|||||||||||||||||
Basic and Diluted |
$ |
4.42 |
$ |
5.60 |
$ |
8.32 |
$ |
11.01 |
|||||||||
June 30, 2026 |
December 31, 2025 (Audited) |
June 30, 2025 |
||||||||||||||
Assets |
||||||||||||||||
Current assets |
||||||||||||||||
Cash and cash equivalents |
$ |
2,396 |
$ |
2,123 |
$ |
1,594 |
||||||||||
Investments in United States Treasury Bills |
14,460 |
14,312 |
16,550 |
|||||||||||||
Investment in available for sale securities |
136 |
204 |
44 |
|||||||||||||
Investment in equity method limited partnership |
1,865 |
1,810 |
1,706 |
|||||||||||||
Accounts receivable |
433 |
294 |
253 |
|||||||||||||
Prepaid expenses |
104 |
181 |
94 |
|||||||||||||
Materials and supplies |
- |
- |
59 |
|||||||||||||
Income taxes receivable |
141 |
105 |
37 |
|||||||||||||
Total current assets |
19,535 |
19,029 |
20,337 |
|||||||||||||
Telecommunications, property, plant and equipment, net |
839 |
929 |
907 |
|||||||||||||
Goodwill |
337 |
337 |
337 |
|||||||||||||
Other intangibles, net |
14 |
19 |
25 |
|||||||||||||
Other investments |
1,768 |
2,758 |
1,708 |
|||||||||||||
Deferred income taxes |
- |
- |
34 |
|||||||||||||
Other assets |
46 |
46 |
59 |
|||||||||||||
Total assets |
$ |
22,539 |
$ |
23,118 |
$ |
23,407 |
||||||||||
Liabilities |
||||||||||||||||
Current liabilities |
||||||||||||||||
Trade accounts payable and accrued expenses |
$ |
165 |
$ |
186 |
$ |
142 |
||||||||||
Accrued liabilities |
377 |
324 |
353 |
|||||||||||||
Total current liabilities |
542 |
510 |
495 |
|||||||||||||
Deferred income taxes |
66 |
87 |
- |
|||||||||||||
Other liabilities |
32 |
32 |
46 |
|||||||||||||
Total liabilities |
640 |
629 |
541 |
|||||||||||||
Equity |
||||||||||||||||
Common stock, par value $.01, 30,000 shares authorized; 26,865 issued; and 10,850, 11,244 and 11,541 outstanding |
-- |
-- |
-- |
|||||||||||||
Contributed capital |
7,112 |
7,112 |
7,112 |
|||||||||||||
Retained earnings |
37,771 |
37,680 |
37,545 |
|||||||||||||
Treasury stock, 16,016; 15,622; and 15,325 shares at cost |
(22,984 |
) |
(22,303 |
) |
(21,791 |
) |
||||||||||
Total equity |
21,899 |
22,489 |
22,866 |
|||||||||||||
Total liabilities and equity |
$ |
22,539 |
$ |
23,118 |
$ |
23,407 |
||||||||||
The following table is a reconciliation of Net income to EBITDA from operations:
Three Months Ended June 30, |
Six Months Ended June 30, |
||||||||||||||
2026 |
2025 |
2026 |
2025 |
||||||||||||
Net income |
$ |
48 |
$ |
65 |
$ |
91 |
$ |
129 |
|||||||
Adjustments: |
|||||||||||||||
Interest income |
(142 |
) |
(185 |
) |
(291 |
) |
(377 |
) |
|||||||
Income tax expense |
15 |
20 |
31 |
34 |
|||||||||||
Depreciation and amortization |
57 |
52 |
114 |
100 |
|||||||||||
Total adjustments |
(70 |
) |
(113 |
) |
(146 |
) |
(243 |
) |
|||||||
EBITDA |
(22 |
) |
(48 |
) |
(55 |
) |
(114 |
) |
|||||||
Corporate office expenses |
244 |
273 |
488 |
509 |
|||||||||||
Equity in earnings of affiliated companies |
(23 |
) |
(107 |
) |
(74 |
) |
(133 |
) |
|||||||
Unrealized and realized losses on available for sale equity securities |
(7 |
) |
- |
26 |
(20 |
) |
|||||||||
EBITDA from operations |
$ |
192 |
$ |
118 |
$ |
385 |
$ |
242 |
|||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260728748680/en/
Kenneth D. Masiello
Chief Financial Officer
July 28, 2026
(775) 664-3700
Source: CIBL, Inc.
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