Call participants are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof.The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Call participants should carefully review the risks and uncertainties described in other documents that the Company files from time to time with the U.S. Securities and Exchange Commission. With that, we will now turn the call over to Guy. Guy Nissenson Good morning, thank you for joining us today. This was another excellent quarter for us with continued fiber revenue growth, shifting revenue composition, higher margins and significant EBITDAS growth. While we are very encouraged by our consistent fiber growth, we are also very excited to report that we achieved overall revenue growth for the second quarter sequentially. NTS continues to execute well and we’re energized by our progress to date as well as by our future opportunities. During and just after the close of the first quarter, we expanded our fiber network to 4 new markets and we now have a presence in twelve markets in Texas. As we’ve discussed, the construction of our fiber network is largely financed using federal stimulus funding. This type of low interest financing is an excellent way to fund our growth. In the first quarter we added our first fiber customers in Slaton, Texas and we continued to add subscribers in our existing FTTP markets. As mentioned on our fourth quarter call, with the start of the new year we accelerated our fiber rollout activities and began laying fiber in the communities of Tahoka, Lamesa, Plainview, Abernathy and Hale Center, Texas. Following the close of the first quarter we began signing customers in Wilson, Meadow, and most recently Lamesa, Texas. Our triple play offering is very appealing to customers in the new markets we are entering and we’ve seen very high take rates, which reflect not only on the quality of our services and the demand for high speed broadband in these communities, but also the efforts of our sales and marketing organization.
Our ability to quickly and efficiently build the network and market our services in new communities is driving the revenue contribution from our fiber business, which grew 38.3% from the first quarter of 2011 and now represents 27.3% of our business. Our strengthening fiber business also contributed to an approximately 34.5% increase in EBITDAS from the first quarter of 2011, bringing EBITDAS to $2.7 million and marking eight consecutive quarters of EBITDAS growth.We are off to a very good start with our performance in the first quarter and we look forward to continuing the execution of our strategic fiber roll out throughout the balance of the year. Now I’ll turn it over to Niv to review the financials. Niv Krikov Thank you, Guy. Revenue from the Company’s FTTP triple play business grew 38.3% to $4.1 million in the first quarter of 2012 as compared to $2.9 million in the first quarter of 2011. Sequentially, fiber revenues grew by 12.5% from $3.6 million in the fourth quarter of 2011. FTTP revenues represented 27.3% of total revenues for the quarter as compared to 24.6% of total revenues for the fourth quarter of 2011. Consolidated revenues for the first quarter were $14.9 million, an increase of 4.7% compared to $14.3 million in the same prior year period. The increase in the consolidated revenues is related to the increasing contribution of revenues from the FTTP business which compensated for the decrease of 2.1% in revenues from residential non-FTTP customers. Read the rest of this transcript for free on seekingalpha.com