XFONE Reports Fourth Quarter and Year End 2009 Results
Lubbock, TX – March 29, 2010
XFONE, Inc. (NYSE Amex and TASE: XFN) (“XFONE” or “the Company”) announces results for the year ended December 31, 2009.

Mr. Guy Nissenson, the Company’s President and CEO, commented, “During 2009 we laid the groundwork that has in recent weeks resulted in transformational opportunities that we believe position Xfone well for long-term growth as the Company moves to become a purely U.S. business with state-of-the-art Fiber-To-The-Premise (FTTP) infrastructure. Despite the difficult market conditions prevalent for much of 2009 which resulted in a slight decline in revenues, we are encouraged by our ability to modestly grow our gross margins in the U.S. and increase operating cash flow.”

Subsequent to the close of fiscal 2009, Xfone announced the following developments:

Stimulus Grant and Loan:  In March 2010, the Company received approval for $63.6 million in federal grants and long-term, low interest loans from the Broadband Initiative Program of the American Recovery and Reinvestment Act.  This funding will enable Xfone to rollout its state-of-the-art FTTP infrastructure to bring broadband services to the Texas south plains and to the communities of Burkburnett and Iowa Park, Texas.  Additionally, this funding will help stimulate the economic growth of these communities by creating a significant amount of new jobs associated with the network build out.

Divestiture of International Businesses: In January 2010, Xfone announced the intended divestiture of the U.K. division for the value of approximately $4.5 million in total proceeds and savings.  The Company also subsequently announced that it had signed a memorandum of understanding for the divestiture of the Israeli division. In addition to providing cash to the balance sheet, these divestitures will eliminate most of the Company’s international overhead expense and reinforce its concentration in the U.S. market.

During the fourth quarter, Xfone wrote-off virtually all of the $21.1 million U.S.-based goodwill on its balance sheet that mostly related to its legacy copper network operation.  This non-cash write-off of goodwill has no effect on the operation of the Company’s business or its ability to serve its customers, and reflects Xfone’s business shift toward the higher margin FTTP business.


The following information was filed by Nts, Inc. (NTS) on Monday, March 29, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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