Boston, MA 05/23/2013 (wallstreetpr) – The share prices of Otelco Inc. (NASDAQ:OTT) surged by 9.55 percent to close at $1.95 for the end of the last trading session. The shares traded in the range of $1.80 to $2.07 per share during the day. While the 52 week high price of Otelco Inc. (NASDAQ:OTT) is at $7.66 per share, the 52 week low price for the company is at $1.25 per share.
First quarter 2013 results
The wireline telecommunications service provider, Otelco Inc. (NASDAQ:OTT) had recently reported its first quarter, 2013 results in which the company had registered total revenues of $21 million for the quarter. The operating income of Otelco Inc. (NASDAQ:OTT) for the first quarter was reported as $4.9 million and the adjusted EBITDA was observed to be $8.8 million for the company. The Chief Executive Officer of the company reported that the financial results for the first quarter of 2013 were stronger as expected and conveyed that the restructuring plan is being executed as per the plans.
Otelco Inc. (NASDAQ:OTT) is engaged in providing a range of telecommunication services on wholesale and retail basis. These services include local and long distance calling; network access to and from its customers; data transport; digital high-speed and dial-up Internet access; cable, satellite and Internet protocol television; wireless, and other telephone related services. Otelco Inc. (NASDAQ:OTT) presently has 13.22 million shares outstanding with the shareholders and the institutional ownership in the company amounts to 17 percent of the total holdings. The average trading volume for the company is at 8,636 shares per day.
