LICT CORPORATION REPORTS PRELIMINARY FOURTH QUARTER AND FULL YEAR 2019 RESULTS

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.

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

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.

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LICT COMPLETES SALE OF PARTNERSHIP INTEREST TO VERIZON

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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CIBL AND LICT TRANSACTION RECEIVES FINAL APPROVAL AND A YEAR END CLOSING IS SCHEDULED

Reno, Nevada/Rye, New York, December 16, 2019 – LICT Corporation (“LICT”; OTC Pink ®: LICT) and CIBL, Inc. (“CIBL”; OTC Pink ®: CIBY) are announcing that the New Hampshire Public Utilities Commission (“NHPUC”) today approved the merger of LICT’s subsidiary which owns the Bretton Woods Telephone Company (“BWTC”) with a subsidiary of CIBL.  The NHPUC’s approval of the merger is effective as of December 31, 2019.

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LICT CORPORATION ANNOUNCES SALE OF ITS INTEREST IN MODOC RSA LIMITED PARTNERSHIP TO VERIZON

Rye, NY – November 26, 2019 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) is announcing the signing of a definitive agreement to sell its minority interest in the MODOC RSA Limited Partnership (“Modoc”), to Verizon Wireless.  Modoc is a partnership which is controlled by Verizon and provides wireless service in a rural area of northern California.

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LICT CORPORATION REPORTS THIRD QUARTER RESULTS

  • Revenues were $28.4 million, a reduction of 12% from $32.3 million.
  • EBITDA was $13.0 million, a $4.7 million decline from $17.7 million.
  • Earnings per share were $263 per share compared to $391 per share in 2018.
  • Charitable Contribution Program continues in the Fourth Quarter of 2019.

Rye, NY – November 20, 2019 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) reports financial results for the quarter ending September 30, 2019.

SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM — In 2016, the Company adopted a Shareholder Designated Charitable Contribution Program. Under the Program, all registered shareholders are eligible to designate charities and the company will make a contribution to that charity. In 2016, 2017 and 2018, the company made $100 per share contributions on behalf of its shareholders to their designated charities. The LICT Board of Directors approved the 1st quarter 2019 contribution, also at $100 per share, in December 2018, and the contributions were distributed to the charities in the 1st quarter of 2019.  In addition, the board approved an additional contribution in the 3rdquarter of 2019 and the distribution will be made in the 4th quarter of 2019.

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LICT SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM

Rye, New York- October 1, 2019 – LICT Corporation (OTC Pink: LICT) As previously announced, LICT  is continuing its Shareholder Charitable Contribution Program, adopted in 2016, for all registered shareholders during the fourth quarter of 2019. All registered shareholders will be eligible to designate 501(c)3 charities to which the company will make a donation of $100 per share on behalf of the shareholder.

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LICT CORPORATION CONTINUES SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM

Rye, New York- July 31, 2019 – LICT Corporation (OTC Pink: LICT) is announcing that it will continue its Shareholder Charitable Contribution Program for all registered shareholders during the fourth quarter of 2019. As indicated, the program was adopted in 2016. All registered shareholders will be eligible to designate 501(c)3 charities to which the company will make a donation of $100 per share on behalf of the shareholder.

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LICT CORPORATION INCREASES SHARE REPURCHASE PROGRAM

Rye, New York – July 31, 2019 – LICT Corporation (“LICT” or the “Company”, OTC Pink ®: LICT) is today announcing that its Board of Directors (the “Board”) has increased the Company’s share repurchase authorization.  Prior to this increase, there had been 387 shares remaining for repurchase under the Board’s prior authorizations.  The Board has now increased that amount to 1,450 shares currently authorized for repurchase by LICT. LICT continues its buyback program because it believes that the current market under values the long-term prospects of the company. LICT intends to buy its shares from time to time in the marketplace as it deems appropriate.

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