Broadband holding firm CIBL's Q3 revenue falls on lower service revenues
CIBY•CIBL's Q3 revenue fell 3.8% year over year to $536,000, and it reported a net loss of $26,000 versus a profit a year earlier.
1. Quarterly results
CIBL said Q3 revenue fell 3.8% year over year to $536,000, mainly because of lower service revenues and reduced installation activity compared with the prior year. The company reported a net loss of $26,000, operating expenses of $768,000 and an operating loss of $232,000.
2. Other results factors
A decline in other income was mainly due to lower equity in earnings of affiliates and reduced yields on U.S. Treasuries. A one-time non-regulated expense credit partially offset lower EBITDA from operations. The company provided no specific guidance for future periods.
