HickoryTech (Nasdaq: HTCO), an independent ILEC that continues to expand its business and consumer broadband portfolio, has taken a seat on the U.S. small cap Russell 2000 Index.
By becoming a member of Russell's U.S. equity index, which ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization, means that HickoryTech automatically gets included in the broad-market Russell 3000Ò Index as well as the appropriate growth and value style indexes.
John Finke, president and chief executive officer of HickoryTech, said in a release that "Our success in growing our business and broadband services, the continued expansion of our fiber network, and our strong financial position are all creating long-term value for our shareholders."
While HickoryTech may pale in size to other larger independent ILECs, the service provider has been continually upping the ante of its broadband and IP offerings for both its residential and business customers. On the residential side, HickoryTech reached its 20,000 DSL subscriber mark in April and earlier its 10,000 IPTV subscriber mark.
HickoryTech continues to make strides on the business side as well, reporting $11 million in fiber and data revenue up 13 percent year-over-year, the result of strong Ethernet and wholesale carrier services in Q1 2011 in its Enventis business service unit.
- see the release
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