LUS Fiber retail revenue up 32 percent in September
LUS Fiber's retail TV, phone and Internet sales revenue jumped 32 percent from August to September, according to the most recent monthly financial statement. The retail revenues total $117,614.53. Monthly expenses were $540,460.38, bringing net operating revenue (before depreciation and amortization) to negative $257, 059.66 for the month.
September expenses dropped significantly from last month's August report, which saw a $309,600 spike in the business' administrative expense account. LUS Director Terry Huval says the August spike was due to some administrative expenses coming due that needed to get in the 2008-2009 fiscal year for accounting purposes. He says these are recurring expenses that in the current fiscal year are being spread out over 12 months.
Overall, Huval says business is picking up and expects October's '09 fiscal year end report to show strong numbers. "Our revenues are continuing to go up, our sales our increasing," he says. "We're meeting and exceeding our targets every day on new customers being added on to the system." LUS is anticipating the Fiber business, which launched in February, to be cash positive by May or June of next year.
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