New Ulm Telecom, Inc. Annual Report: Year Ended December 31, 2011

March 28, 2012

New Ulm Telecom, Inc. (OTCQB: NULM.OB) reported total operating revenues for its year ended December 31, 2011 increased 2.9% to $33.27 million compared to total operating revenues of $32.34 million for the prior year.  Revenues for 2011 primarily benefited from increases in revenue from its video and data services.

Net income for 2011 was nearly flat at $2.03 million or $0.40 per share versus net income of $2.05 million or $0.40 per share for 2010.  Net income in 2011 was negatively impacted by increased plant operation expense, higher cost of video and increased selling, general and administrative expenses.

As of December 31, 2011, the balance sheet reflected current assets of $7.13 million, investments of $75.68 million (including goodwill of $29.71 million and intangibles of $20.22 million), total assets of $117.69 million, current liabilities of $7.36 million and total liabilities of $64.01 million.  During 2011, stockholders’ equity increased 2.4% to $53.68 million.

New Ulm Telecom, Inc. offers a wide variety of services including local and long distance phone service, dial-up and broadband Internet access, and video services.

Source: New Ulm Telecom, Inc.

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