Operating ExpensesOperating expenses in the three months ended March 31, 2011, increased 0.7% to $20.1 million from $19.9 million in the three months ended March 31, 2010. Cost of services and products increased 3.9% to $11.0 in the quarter ended March 31, 2011, from $10.6 million in the quarter ended March 31, 2010. A non-recurring accrual for the Universal Service Fund costs, start-up network costs in New Hampshire, and increased employee and benefit costs accounted for the $0.4 million increase in this category. Selling, general and administrative expenses increased 3.0% to $3.3 million in the three months ended March 31, 2011, from $3.2 million in the three months ended March 31, 2010, primarily related to increased employee and benefit costs. Depreciation and amortization for first quarter 2011 decreased 5.9% to $5.7 million from $6.1 million in first quarter 2010. Amortization of intangible assets associated with the Country Road acquisition decreased $0.3 million, including contract and customer base intangible assets. The remaining decrease of $0.1 million reflected lower depreciation of plant assets in Alabama partially offset by an increase in depreciation in Missouri.
Otelco Reports First Quarter 2011 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.