Rye, NY – April 27, 2017 – LICT Corporation (“LICT”; OTC Pink®: LICT) reports results for the first quarter ended March 31, 2017.
FIRST QUARTER RESULTS – In 2017, first quarter revenues increased by $4.6 million, or 21.2%, to $26.1 million compared to the corresponding quarter in 2016. Non-regulated revenues grew by $1.3 million, or 13.5%, to $11.2 million from the prior year’s $9.9 million due to increased broadband and competitive local exchange carrier (“CLEC”) revenues. Regulated revenues grew by $3.2 million, or 27.7%, to $14.9 million in the first quarter of 2017 from the prior year’s $11.6 million. Alternative-Connect America Cost Model, (“A-CAM”) revenues were $5.9 million and exceeded the 2016 USF revenue streams replaced by A-CAM by $2.6 million.
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