LICT Corporation reported unaudited preliminary earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported revenue of $27,267,000 compared to $23,792,000 a year ago. Operating profit was $6,513,000 against $3,496,000 for the same period a year ago. Income before income tax provision was $6,588,000 against $3,504,000 for the same period a year ago. Net income was $9,695,000 or $468.46 per diluted share against $2,199,000 or $103.07 per diluted share for the same period a year ago. Capital expenditures were $8,038,000 against $4,276,000 for the same period a year ago. Total EBITDA was $11,813,000 compared to $8,965,000 a year ago. Dilutive adjusted net income per share was $178.54 against $103.07 a year ago.

For the year, the company reported revenue of $106,531,000 compared to $90,740,000 a year ago. Operating profit was $25,234,000 against $12,985,000 for the same period a year ago. Income before income tax provision was $24,660,000 against $11,907,000 for the same period a year ago. Net income was $20,634,000 or $980.41 per diluted share against $7,273,000 or $338.32 per diluted share for the same period a year ago. Capital expenditures were $22,273,000 against $16,434,000 for the same period a year ago. Total EBITDA was $45,100,000 compared to $32,907,000 a year ago. Dilutive adjusted net income per share was $731.58 against $370.97 a year ago. Net debt was $23.9 million at December 31, 2017, as compared to $22.6 million on December 31, 2016.

The company is currently expecting that revenues for 2018 will approximate $109 million and EBITDA before corporate costs will match the $49 million of 2017. The company is expecting that the lower Federal income tax rate, which was part of the Tax Cuts and Jobs Act that was passed by Congress in December 2017, will reduce 2018 income tax expense by approximately $3 million, or about $150 per share. In order to expand the company's non-regulated fiber initiatives and provide a high level of broadband to customers in the rural areas of the United States, the company expecting capital expenditures of $21 million in 2018.