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NTS, Inc. (NYSE MKT/TASE: NTS) (“NTS” or the “Company”) announces results for the three months ended June 30, 2013.
Revenues from the Company’s Fiber-To-The-Premises (“FTTP”) business grew 25% to $5.7 million in the second quarter ended June 30, 2013, as compared to $4.5 million for the same period in 2012. FTTP revenues represented 37.2% of consolidated revenues for the second quarter of 2013, as compared to 29.9% of consolidated revenues for the second quarter of 2012.
Consolidated revenues for the quarter ended June 30, 2013 were $15.2 million, essentially flat when compared to the quarter ended June 30, 2012.
For the first six months of 2013, revenues from the Company’s FTTP business grew 28.1% to $11 million from $8.6 million in the first six months of 2012. Consolidated revenues for the six months ended June 30, 2013 were $30.1 million, essentially flat as compared to consolidated revenues of $30 million for the six months ended June 30, 2012.
The Company’s total number of FTTP customers as of June 30, 2013 was 10,881, a 27% increase compared to 8,516 FTTP customers as of June 30, 2012. The increase in the Company’s customer base is a result of its expansion into additional communities and increased penetration.
Average Revenue Per User for all of the Company’s fiber markets is approximately $389 per month for business customers and approximately $100 per month for residential customers.
The FTTP network build out is primarily financed by $99.9 million in funds from the Federal Broadband Stimulus Program, of which 45.9% is in the form of grants and 54.1% is in the form of low cost long-term loans.
New Market Progress
During the second quarter of 2013, NTS began connecting fiber customers in Abilene, Texas where the Company established a “metro build” targeting more than 1,000 business customers. With the addition of Abilene, the Company now has a presence in 18 markets in Texas. The Abilene build out is modeled after the NTS metro build in Wichita Falls, Texas where it has seen high demand for its fiber services.