Rye, New York – April 27, 2020 –Salvatore M. Salibello has been appointed to the LICT Corporation Board of Directors and will serve as the Chairman of the Audit Committee. Mr. Salibello is a Certified Public Accountant and a Senior Member of Bright Side Group, LLC.  He is the Founder, and served as the Managing Partner, of the certified public accounting firm, Salibello & Broder LLP until its sale to BDO USA, LLP. Mr. Salibello has over forty years of experience in public accounting.  He serves on several boards and board committees for investment funds in the Gabelli/GAMCO Fund Complex.  He was a director of Nine West, Inc., a group of companies in the ladies’ footwear and accessories business and served as Chairman of its Audit Committee. Mr. Salibello also serves on numerous non-profit boards and is the Chairman of the Board of Directors of John Cabot University, an American university in Rome, Italy.

Mario J. Gabelli, Chairman and Chief Executive Officer of LICT, stated, “We are delighted that Mr. Salibello will be joining the LICT Board of Directors. Sal brings a vast amount of experience to the LICT Board and will fill a key role as Chairman of the Audit Committee. “

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions.  It should be recognized that such information is based upon certain assumptions, projections and forecasts, including  without  limitation business conditions, financial markets and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be successful or that financial or other targets will be met.  Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.  LICT is listed on the OTC Pink ® under the symbol LICT.  For further information, please visit our website listed above.

LICT CORPORATION BOARD OF DIRECTORS HAS APPROVED CHARITABLE GIVING TO HELP OUR COMMUNITIES COPE WITH HEALTH AND ECONOMIC ISSUES RELATED TO COVID-19

Rye, New York – April 14, 2020 – The Board of Directors of LICT Corporation (“LICT” OTC Pink ®: LICT) approved a charitable contribution program in order to help our communities cope with the effects of the Covid-19 pandemic. In particular, each of our 338 teammates, together with their companies are ready, at their option, to work with school districts in our service areas to identify families in need and is donating the needed equipment to get children who are “sheltered at home” back to learning.

LICT is committed to giving back to our communities and over the past four years, LICT has made over $5.5 million in charitable contributions.

In addition to the charitable contributions, LICT is committed to providing high speed connectivity to the businesses and families in need in the communities we serve. During this pandemic, LICT is committed to:

• not disconnect service to customers that are temporarily unable to pay because of circumstances related to COVID-19;

• offer free or discounted internet connectivity to families in need due to the pandemic with school aged children that need connectivity for distance learning; and

• set up community WI-FI hot-spot locations to make sure that community members can safely stay connected to information and loved ones.

Dan Hopkins, President and Chief Financial Officer of LICT, said “Our mission is to improve the communities that we serve. Our commitment to that mission is even greater in times of crisis when our communities need us more than ever. We understand the critical importance of staying connected to learning and we want to make sure that children have the equipment and connectivity they need so that they don’t fall behind. Our teammates live in the communities we serve, and we believe it is our responsibility to step up and help out when our communities are in need”.

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions.  It should be recognized that such information is based upon certain assumptions, projections and forecasts, including  without  limitation business conditions, financial markets and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be successful or that financial or other targets will be met.  Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.  LICT is listed on the OTC Pink ® under the symbol LICT.  For further information, please visit our website listed above.

LICT achieves another quarter of solid revenue growth, stable EBITDA, and strong cash from operations; balance sheet strengthens as net cash grows

Fourth Quarter

• Revenues increased 10% to $31.2 million from $28.4 million.
• EBITDA grew to $14.7 million from $13.4 million.
• EPS rose 25% to $344 per share from $275 per share. 

Full Year

• Revenues climbed 3.8% to a record $118.4 million from $114.1 million.
• EBITDA was $53.4 million versus $53.3 million.
• EPS rose to $1,353 per share from $1,256 per share.

Rye, NY – February 24, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink^®: LICT) reports preliminary, unaudited, financial results for the year ended December 31, 2019.

Continue reading LICT CORPORATION REPORTS PRELIMINARY FOURTH QUARTER AND FULL YEAR 2019 RESULTS

Rye, New York – January 28, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) has closed on a 5 year, $50 million, unsecured Revolving Credit Facility with CoBank. In addition to extending the term of the Revolving Credit Facility through 2025, the new loan facility provides lower pricing, an improved covenant structure, and greater flexibility to make charitable contributions, acquisitions as well as Shareholder Compensation.

Continue reading LICT CORPORATION CLOSES ON A NEW $50 MILLION DOLLAR REVOLVING CREDIT FACILITY PROVIDED BY COBANK

Rye, New York – January 3, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) has closed the sale of its minority interest in the Modoc RSA Limited Partnership (“Modoc”) to Verizon Wireless.  LICT had announced the signing of a definitive agreement for this transaction on November 26, 2019.

Modoc is a partnership controlled by Verizon Wireless which provides service in a rural area of northern California.  A subsidiary of LICT had acquired this interest in Modoc in 1988.  The transaction was not subject to any regulatory approvals.

Dan Hopkins, President and Chief Financial Officer of LICT, said “The sale of LICT’s interest will further strengthen LICT’S financial condition and flexibility. This transaction concludes a very successful partnership with Verizon Wireless.  Verizon has been a good partner and has provided excellent management of this property and we wish it continued success.”

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