Before The Bell
FONT-SIZE Plus   Neg
Share SHARE

Otelco Inc. (OTT) Sank To A New Low After Time Warner Contract Expiration

Otelco Inc. (OTT: Quote) announced after the bell Friday that Time Warner Cable indicated that it will not renew its existing contract for wholesale network connections provided by Otelco. The contract represented approximately 11.7% of Otelco's consolidated revenue for 2011.

Otelco gapped open dramatically lower Monday and fell in early trade, before settling into a range. The stock closed down by 5.37 at $6.66 on the highest volume of the year. Otelco plunged to a new low for the year.

Click here to receive FREE breaking news email alerts for Otelco Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

comments powered by Disqus