Rye

Reference Library – England – East Sussex – Rye

Far Cry 5 latest news: release date, price, gameplay, platforms

After the success of Far Cry 4[1] back in 2014, fans have been eagerly awaiting news about the almost inevitable Far Cry 5. It was a pretty big surprise when instead of the fifth game 2016 brought the stone age spin-off Far Cry: Primal[2], but another modern adventure is on the way. We’ll be tracking its development, and this page is where you’ll find all the Far Cry 5 news and rumours out there, including its release date, platforms, and setting.

If you want to find out about what else is on the way, check out our guide to this year’s most anticipated games.[3]

In summary:

  • Far Cry 5 release date: 27 February, 2018
  • Formats: PS4 (with Pro support), Xbox One, PC
  • Developer: Ubisoft
  • Price: ?49.99/£59.99
  • Pre-order: Amazon[4]

When is Far Cry 5 coming out?

After Far Cry 3[5] was released in November 2012 and Far Cry 4[6] came out in November 2014, fans obviously expected Far Cry 5 to arrive in November 2016. Publisher Ubisoft threw a surprise wrench in the works when they released Far Cry: Primal however, as the prehistoric spin-off game came out in February 2016, killing any hopes for the main series’ fifth game coming out in the same year. That meant most fans expect Far Cry 5 to arrive some time in 2017.

However, our dreams of a 2017 release were crushed by the Far Cry 5 reveal trailer which states that Far Cry 5 is set to be released on 27 February 2018. You can pre-order the game now for ?49.99/£59.99 from Amazon[7], though if you don’t mind spending a little more there’s the Gold Edition[8], which includes some exclusive content and the DLC season pass, and the Father Edition[9], which throws in a collector’s box, steelbook case, printed map, and exclusive figurine. If you’d rather buy the game from elsewhere, you can also get it from Game[10] or Argos[11] in the UK, or GameStop[12] or Best Buy[13] in the US, along with plenty of other retailers too.

What platforms will it be on?

The game will be available for PS4, Xbox One and PC, with Sony’s PlayStation having some kind of exclusivity, although details of the partnership are yet to be announced. It’s very likely it will have support for the more advanced features of the PS4 Pro[14] and maybe even Xbox One Scorpio[15] too. The only other major potential platform is the Nintendo Switch[16].

Ubisoft has already confirmed that it is developing a “wide variety” of games for the Switch, but it seems as if Far Cry 5 won’t be one of them.

What about the setting and gameplay?

The most recent Far Cry games have become best known for leading the way in terms of open-world first-person shooters. Far Cry 3 allowed players to explore a pair of enormous tropical islands, while Far Cry 4 offered the whole of the Himalayas to explore, so it’s likely that Far Cry 5 will offer a similarly expansive environment. That environment is closer to home for some than previous games, as the game takes place in modern-day Montana in the northwest United States.

As a member of law enforcement in the fictional Hope County, you’ll come face-to-face with crazy cultists and dedicated militias in true, chaotic Far Cry fashion. It’s been confirmed that Far Cry 5 will be around 20-30 hours long to complete. This is because Far Cry 5’s lead writer Drew Holmes told GamingBolt [17]that it will be similar to previous games in the series in terms of length.

Ubisoft and AMD have confirmed Far Cry 5 (and Wolfenstein II: The New Colossus[18]) will support Rapid Packed Math, a new feature that is exclusive to AMD’s new RX Vega graphics cards[19]. This should mean improved performance as it can do ‘two math instructions for the price of one’.

Lead writer Drew Holmes told GamingBolt[20] that after deciding to set the game in the US, Montana was the team’s immediate choice.

“I think that there’s a great sense of frontier, great sense of wilderness, of danger, wildlife, there’s mountains, there’s big sky. There’s lots of places that feel unknown even though it is in the backyard.” “So I think as soon as the team went there,” he continued, “they started to meet the people there, and get a sense of, ‘Montanans are a very self-reliant type of person.

They don’t like to be pushed around.’ There’s a history of standoffish-ness and leave-me-alone with the state that I think worked really, really well with Far Cry. The list of places that Far Cry wanted to go after that just fell off the table. We said, ‘this is the spot, this is where we want to go.

Now let’s think of an interesting villain that could populate that space’.” In a change to previous Far Cry games, Far Cry 5 will allow you to customise the look of the main character. Beyond being a junior deputy sheriff, the protagonist is a blank canvas.

Some are speculating that the choices you make in terms of race (and possibly gender) could influence the way the story is told, and how others interact with you, although only time will tell. Far Cry 5 pits you against Joseph, the bearded figure that posed like Jesus in the teaser image released by Ubisoft prior to the reveal. Joseph is the leader of a doomsday cult called ‘Project at Eden’s Gate’ and has swathes of underlings to help him carry out his work, along with other cult leaders (who all happen to be members of his family).

However, while you’ll go up against cultists in a big way, you’ll also have the aid of many Hope County locals. Three of your key allies in Far Cry 5 are Pastor Jerome Jeffries, a clergyman armed to the teeth and ready to fight for what’s right, along with Mary May, a tavern owner who knows a thing or two about Molotov cocktails, and Nick Rye, a pilot that attached a gatling gun to his plane. Animals will reportedly play a big role in Far Cry 5, and you’ll be able to befriend dogs and send them into battle for you.

Boomer, one of three Guns for Hire already revealed by Ubisoft, is an angry dog who will take out your enemies and retrieve their guns for you. Early gameplay footage from Far Cry 5 even shows animals (a cow and bull) getting it on, reports Polygon[21], which is not something that has been shown in the series before. Looking beyond the setting and its qwerky inhabitants, it is likely that players can expect Far Cry 5 to have less focus on a linear narrative and instead bring the open world elements even further to the fore.

Ubisoft chief creative officer Serge Hascoet told Le Monde[22] that his focus was on making “worlds that are interesting to me, even as a tourist,” where “my actions will change the world.” “I don’t want the player to go through a story created by someone. We have games like that still, but I ask more and more that we let the player write their own story — that they set themselves a long-term goal, identify the opportunities that are open to them and choose not to follow a path that was decided for them.”

The company has also confirmed that Far Cry 5 will be co-op from beginning to end, allowing groups of friends to explore the open world of Hope County. You can get a better feel of the co-operative gameplay via the below trailer released by Ubisoft during its E3 2017 press conference. However, according to Gamestar[23], only one of the players will get to keep their progress in co-op mode.

[embedded content]

We’ll be sure to update this article as soon as we have any more details about Far Cry 5, so check back in the future.

References

  1. ^ Far Cry 4 (www.techadvisor.co.uk)
  2. ^ Far Cry: Primal (www.techadvisor.co.uk)
  3. ^ most anticipated games. (www.techadvisor.co.uk)
  4. ^ Amazon (amzn.to)
  5. ^ Far Cry 3 (www.techadvisor.co.uk)
  6. ^ Far Cry 4 (www.techadvisor.co.uk)
  7. ^ Amazon (amzn.to)
  8. ^ Gold Edition (amzn.to)
  9. ^ Father Edition (amzn.to)
  10. ^ Game (www.game.co.uk)
  11. ^ Argos (www.anrdoezrs.net)
  12. ^ GameStop (www.gamestop.com)
  13. ^ Best Buy (www.bestbuy.com)
  14. ^ PS4 Pro (www.techadvisor.co.uk)
  15. ^ Xbox One Scorpio (www.techadvisor.co.uk)
  16. ^ Nintendo Switch (www.techadvisor.co.uk)
  17. ^ GamingBolt (gamingbolt.com)
  18. ^ Wolfenstein II: The New Colossus (www.techadvisor.co.uk)
  19. ^ Radeon RX Vega release date, price, specifications (www.techadvisor.co.uk)
  20. ^ GamingBolt (gamingbolt.com)
  21. ^ Polygon (www.polygon.com)
  22. ^ Le Monde (www.lemonde.fr)
  23. ^ Gamestar (www.gamestar.de)

Far Cry 5 latest rumours: release date, price, gameplay, platforms

Ubisoft has officially announced Far Cry 5. Here’s everything we know, including the latest news and rumours about the gameplay, release date, and platforms.

There’s a new Far Cry game on the way – here’s everything we know so far.


By | 5 mins ago

After the success of Far Cry 4[2] back in 2014, fans have been eagerly awaiting news about the almost inevitable Far Cry 5. It was a pretty big surprise when instead of the fifth game 2016 brought the stone age spin-off Far Cry: Primal[3], but another modern adventure is on the way.

We’ll be tracking its development, and this page is where you’ll find all the Far Cry 5 news and rumours out there, including its release date, platforms, and setting. If you want to find out about what else is on the way, check out our guide to this year’s most anticipated games.[4]

In summary:

  • Far Cry 5 release date: February 27, 2018
  • Formats: PS4 (with Pro support), Xbox One, PC
  • Developer: Ubisoft
  • Price: TBC

When is Far Cry 5 coming out?

After Far Cry 3[5] was released in November 2012 and Far Cry 4[6] came out in November 2014, fans obviously expected Far Cry 5 to arrive in November 2016. Publisher Ubisoft threw a surprise wrench in the works when they released Far Cry: Primal however, as the prehistoric spin-off game came out in February 2016, killing any hopes for the main series’ fifth game coming out in the same year.

That meant most fans expect Far Cry 5 to arrive some time in 2017. We do at least know for sure that the game is in the works, as Ubisoft confirmed its existence in an earnings call with investors, revealing that it is one of four games due out before March 2018, alongside Assassin’s Creed: Origins[7], South Park: The Fractured But Whole[8], and The Crew 2[9]. However, our dreams of a 2017 release were crushed by the Far Cry 5 reveal trailer which states that Far Cry 5 is set to be released on 27 February 2018.

But why so late? In September 2016, IGN[10] spoke to Ubisoft VP of editorial Tommy Fran?ois, who revealed why Far Cry could (and has) slip back to 2018. “I’ll tell you what, we believe Alpha for these games needs to be one year before release.

We’re trying to achieve that. That’s super f****** blunt, I don’t even know if I’m allowed to say this. This is the goal we’re going for: Alpha one year before, more quality, more polish.

So if this means biting the [bullet] and not having an Assassin’s game, or a Far Cry [in 2017], f*** it.”

Some might worry that it’s a bad sign for the franchise’s future or reflects unhappiness about recent sales, but Fran?ois dismissed those concerns quickly, and emphasised that the extra development time is based on creative concerns, to try and make Far Cry 5 the best game that it can be. “No, Far Cry’s only been going up in sales, so that’s not true […] We sometimes try to do too much – I’m actually super-happy.

I know it’s perceived like [a marketing decision], and even if it is [perceived that way], it’s actually OK. People are allowed to perceive it like that, that it’s a break in the brand and that we’re doing it for that. I have no quarrels.

I just want people to fall in love when people try the next iteration of one of these two brands.” If you don’t want to wait and missed it the first time around, you can pick up Far Cry: Primal for just ?18 on Amazon[11] at the moment, which can hopefully tide you over until we get more concrete news on Far Cry 5.

What platforms will it be on?

Following the official Far Cry 5 announcement trailer, we now know that the game will be available for PS4, Xbox One and PC, with Sony’s PlayStation having some kind of exclusivity, although details of the partnership are yet to be announced. It’s very likely it will have support for the more advanced features of the PS4 Pro[12] and maybe even Xbox One Scorpio[13] too.

The only other major potential platform is the Nintendo Switch[14]. Ubisoft has already confirmed that it is developing a “wide variety” of games for the Switch, but it seems as if Far Cry 5 won’t be headed to the Switch, even with lower graphical power.

What about the setting and gameplay?

The most recent Far Cry games have become best known for leading the way in terms of open-world first-person shooters.

Far Cry 3 allowed players to explore a pair of enormous tropical islands, while Far Cry 4 offered the whole of the Himalayas to explore, so it’s likely that Far Cry 5 will offer a similarly expansive environment. That environment is closer to home for some than previous games, as the game takes place in modern-day Montana in the northwest United States. As a member of law enforcement in the fictional Hope County, you’ll come face-to-face with crazy cultists and dedicated militias in true, chaotic Far Cry fashion.

In a change to previous Far Cry games, Far Cry 5 will allow you to customise the look of the main character. Beyond being a junior deputy sheriff, the protagonist is a blank canvas. Some are speculating that the choices you make in terms of race (and possibly gender) could influence the way the story is told, and how others interact with you, although only time will tell.

Far Cry 5 pits you against Joseph, the bearded figure that posed like Jesus in the teaser image released by Ubisoft prior to the reveal. Joseph is the leader of a doomsday cult called ‘Project at Eden’s Gate’ and has swathes of underlings to help him carry out his work, along with other cult leaders (who all happen to be members of his family).

However, while you’ll go up against cultists in a big way, you’ll also have the aid of many Hope County locals.

Three of your key allies in Far Cry 5 are Pastor Jerome Jeffries, a clergyman armed to the teeth and ready to fight for what’s right, along with Mary May, a tavern owner who knows a thing or two about Molotov cocktails, and Nick Rye, a pilot that attached a gatling gun to his plane. Looking beyond the setting and its qwerky inhabitants, it is likely that players can expect Far Cry 5 to have less focus on a linear narrative and instead bring the open world elements even further to the fore. Ubisoft chief creative officer Serge Hascoet told Le Monde[15] that his focus was on making “worlds that are interesting to me, even as a tourist,” where “my actions will change the world.”

“I don’t want the player to go through a story created by someone. We have games like that still, but I ask more and more that we let the player write their own story — that they set themselves a long-term goal, identify the opportunities that are open to them and choose not to follow a path that was decided for them.” The company has also confirmed that Far Cry 5 will be co-op from beginning to end, allowing groups of friends to explore the open world of Hope County.

You can get a better feel of the co-operative gameplay via the below trailer released by Ubisoft during its E3 2017 press conference:

[embedded content]

We’ll be sure to update this article as soon as we have any more details about Far Cry 5, so check back in the future.

References

  1. ^ (www.pcadvisor.co.uk)
  2. ^ Far Cry 4 (www.pcadvisor.co.uk)
  3. ^ Far Cry: Primal (www.pcadvisor.co.uk)
  4. ^ most anticipated games. (www.pcadvisor.co.uk)
  5. ^ Far Cry 3 (www.pcadvisor.co.uk)
  6. ^ Far Cry 4 (www.pcadvisor.co.uk)
  7. ^ Assassin’s Creed: Origins (www.pcadvisor.co.uk)
  8. ^ South Park: The Fractured But Whole (www.pcadvisor.co.uk)
  9. ^ The Crew 2 (www.pcadvisor.co.uk)
  10. ^ IGN (uk.ign.com)
  11. ^ Amazon (amzn.to)
  12. ^ PS4 Pro (www.pcadvisor.co.uk)
  13. ^ Xbox One Scorpio (www.pcadvisor.co.uk)
  14. ^ Nintendo Switch (www.pcadvisor.co.uk)
  15. ^ Le Monde (www.lemonde.fr)

LICT Corporation Reports Fourth Quarter and Full Year Results

RYE, N.Y.-(BUSINESS WIRE1)-LICT Corporation (“LICT”; OTC Pink(R):LICT) reports preliminary, unaudited results for the fourth quarter and full year ended December 31, 2016. FOURTH QUARTER RESULTS – In 2016, fourth quarter revenues increased by $1.4 million, or 6.2%, to $23.7 million compared to the corresponding quarter in 2015. Non-regulated revenues grew by 12.2% to $11.0 million from the prior year’s $9.8 million due to increased broadband and competitive local exchange carrier (“CLEC”) revenues. Regulated revenues rose to $12.8 million from $12.6 million in 2015, due to increased intra-state revenues, primarily at our New Mexico operation offset by lower interstate revenues at most rest of our other RLECs. EBITDA before corporate costs was $9.8 million, as compared to $9.3 million in the previous year’s fourth quarter.

Non-regulated EBITDA, including affiliate distributions, increased $0.7 million to $5.1 million, while regulated EBITDA declined by $0.2 million. Unallocated Corporate expenses of $649,000 were reported in the fourth quarter of 2016 as compared to $494,000 in the fourth quarter of 2015. ALTERNATIVE CONNECT AMERICA COST MODEL (“A-CAM”) – As we previously disclosed, beginning in early 2017, the Federal Communications Commission (“FCC”) instituted a revised, voluntary Universal Service Fund (“USF”) mechanism for rate-of-return Incumbent Local Exchange Carriers (“ILECs”) called A-CAM. A-CAM replaces the prior Interstate Common Line Support (“ICLS”) and High Cost Loop Support (“HCLS”) cost-based methods, which were based on specific company or industry actual yearly expenditures for operations and capital. The A-CAM program was designed by the FCC to expedite the deployment of broadband capabilities throughout the nation’s rural areas, that are served by rate-of-return carriers. Seven of LICT’s nine operating areas elected to participate in A-CAM. The A-CAM program will provide a fixed amount of annual funding for a period of ten years, effective back to January 1, 2017.

As part of the A-CAM model, our ILECs must meet certain service requirements over the ten-year period. FULL YEAR RESULTS – For the year ended December 31, 2016, LICT recorded revenues of $90.7 million and EBITDA, prior to corporate costs but including cash received from our equity affiliates, of $36.5 million, as compared to revenues of $86.7 million and EBITDA of $36.4 million in 2015. Reflecting the A-CAM elections, the company is currently estimating that revenues in 2017 will be approximately $106 million and EBITDA, prior to corporate costs but including cash received from our equity affiliates, will be approximately $50 million. EARNINGS PER SHARE – Basic earnings during the fourth quarter were $95 per share in 2016 versus $86 per share in 2015. On a full year basis, basic earnings per share, from continuing operations, were $362 in 2016, prior to the after-tax effects of our charitable contribution program discussed in more detail below, as compared to $350 in 2015.

In 2016, basis earnings per share were $331 after reflecting the effects of the charitable contribution program. Shares outstanding at December 31, 2016, were 21,739 versus 22,272 at December 31, 2015. CAPITAL EXPENDITURES AND DEPRECIATION EXPENSE – In 2016, capital expenditures were $5.1 million for the fourth quarter and $16.1 million for the full year, with $8.8 million related to our regulated activities and $7.3 million focused on our non-regulated activities. This reflects our commitment to provide the communities we serve with enhanced communication capabilities. We are accomplishing this through our continued investment in the improvement of our products and network infrastructure, particularly our broadband networks. Through upgraded electronics and fiber extensions deeper into our networks, we have improved the speed, the capacity and the reliability of our broadband service offerings.

At December 31, 2016, LICT operations are currently deploying 4,206 miles of fiber optic cable, 11,430 miles of copper cable, and 513 miles of coaxial cable. SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM –In September 2016, the Company completed its 2016 Shareholder Designated Contribution Program. Under this program, each registered shareholder was eligible to designate a charity to which the Company would make a donation of $100 per share on behalf of the shareholder. A total of $991,000 of contributions were made to charitable organizations under this program, which reduced our full year earnings per share by $31, after income tax effects.

OTHER BROADBAND REGULATION – In the same Order the FCC adopted A-CAM, in March 2016, it also modified the rules for RLECs that do not elect to participate in A-CAM. If a company does not adopt A-CAM, or is not eligible to adopt A-CAM, HCLS will continue for that RLEC; however, effective January 1, 2017, ICLS was eliminated and replaced with a new Connect America Fund – Broadband Loop Support (“CAF-BLS”) mechanism. CAF-BLS includes a series of new caps and limitations for operating expense, capital expenditures, overall support and support in areas served by unsubsidized competitors, but adds support for data-only broadband. CAF-BLS companies may also have specific broadband build-out requirements if their percentage of broadband deployment is not at the FCC required levels. LICT’s three smallest RLECs now receive CAF-BLS support. BALANCE SHEET – The Company’s net debt (total debt less liquid assets) was $21.6 million at December 30, 2016 as compared to $30.1 million on December 31, 2015.

REFINANCING THE COMPANY -The Board of Directors and management have implemented measures which have improved liquidity and reduced the Company’s debt position. At this time, the Board is considering whether the Company should acquire additional leverage which would enable us to explore broader opportunities both within and outside our current industry segments. SHARE REPURCHASES – During the year ended December 31, 2016, the Company repurchased 622 shares for $2.6 million at an average price of $5,244 per share. As of December 31, 2016, 21,282 shares were outstanding. On that date, there were 2,980 shares remaining under our stock repurchase program as authorized by the Board of Directors.

FCC SPECTRUM AUCTIONS – LICT Wireless Broadband Company, LLC (“LICT Wireless”), a wholly owned subsidiary of the Company, is participating in the forward auction phase of the FCC’s broadcast incentive auction – Auction 1002 (“Auction”). As required by the FCC, consistent with previous spectrum auctions, LICT made an upfront deposit on June 30, 2016 to participate in this Auction. FCC rules restrict information that bidders may disclose about their participation in this Auction, including the amount of their upfront payment. OPERATING STATISTICS – As of December 31, 2016, the Company’s DSL penetration in its franchised telephone service territories, based on total ILEC voice lines, was 78.6%, compared to 75.0% as of December 31, 2015. Our summary operating statistics are as follows:

Dec.

31, Percent Dec.

31, Increase Increase

2016

2015

(Decrease) (Decrease)

Broadband lines

31,034 28,631 2,403 8.4 % Voice Lines ILEC 26,786 27,690 (904 ) (3.3 %) CLEC 5,920 5,353 567 10.6 % Total 32,706 33,043 (337 ) (1.0 %) Video Subscribers 6,219 6,467 (248 ) (3.8 %) Revenue Generating Units 69,959 68,141 1,818 2.7 %

This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com2. As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material. LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.

LICT Corporation is listed on the OTC Pink(R) under the symbol LICT. For further information visit our website at http://www.lictcorp.com3.

LICT CORPORATION Exhibit A Statements of Operations and Selected Balance Sheet Data Page 1 of 2 Preliminary and Un-Audited (In Thousands, Except Per Share Data) STATEMENTS OF OPERATIONS Three Months Ended Year Ended December 31, December 31, 2016 2015 2016 2015 Revenues $ 23,740 $ 22,349 $ 90,688 $ 86,680 Cost and Expenses: Cost of revenue, excluding depreciation 11,666 10,859 44,886 41,290 Selling, general and administration 2,965 2,804 11,284 11,332 Depreciation and amortization 4,820 4,392 17,973 17,730 Operating profit (before Corporate office expense) 4,290 4,294 16,546 16,328 Corporate Office Expense: Allocated Corporate office expense 417 317 1,499 1,148 Un- Allocated Corporate office expense 649 494 2,334 1,788 Total Corporate Office Expense 1,066 811 3,833 2,936 Operating profit 3,224 3,483 12,713 13,392 Other Income (Expense) Investment income 45 43 479 366 Interest expense (597 ) (710 ) (2,542 ) (2,923 ) Equity in earnings of affiliated companies 640 459 2,048 1,810 Other- charitable contributions in 2016 (41 ) 4 (1,024 ) 26 47 (204 ) (1,039 ) (721 ) Income Before Income Tax Provision 3,271 3,279 11,674 12,671 Provision For Income Taxes (1,257 ) (1,391 ) (4,586 ) (4,960 ) Net Income before discontinued operations 2,014 1,888 7,088 7,711 Net Income from discontinued operations — — — 117 Net Income attributable to LICT $ 2,014 $ 1,888 $ 7,088 $ 7,828 Capital Expenditures $ 5,084 $ 5,649 $ 16,129 $ 17,973 Weighted Average Shares: Basic 21,212.33 21,839.49 21,384.59 22,047.56 Diluted 21,335.33 21,928.49 21,498.86 22,136.59 Actual shares outstanding at end of period 21,282.37 21,650.37 21,282.37 21,650.37 Basic Earnings Per Share Net income $ 94.89 $ 86.45 $ 331.40 $ 349.74 Net Income from discontinued operations — — — 5.31 Net income attributable to LICT $ 94.89 $ 86.45 $ 331.40 $ 355.05 Dilutive Earnings Per Share Net Income $ 94.49 $ 86.10 $ 329.66 $ 348.34 Net Income from discontinued operations* — — — 5.28 Net Income attributable to LICT $ 94.49 $ 86.10 $ 329.66 $ 353.62

*As a result of the management buy-out of our New York operations

See EBITDA on page 2

LICT Corporation

Exhibit A

Statements of Operations and Selected Balance Sheet Data-Continued

Page 2 of 2

Preliminary and Un-Audited

(in thousands, Except Per Share Data)

SELECTED BALANCE SHEET DATA

Dec.

31, Dec.

31,

2016

2015

Cash and Cash Equivalents $ 8,470 $ 14,748 Note receivables and other deposits 14,250 3,250 Long-Term Debt (including current portion) 42,130 44,846

Liabilities, including taxes, other than debt

$ 35,019 $ 32,088 Shareholders’ Equity $ 108,431 $ 103,447 Shares Outstanding at Date 21,282.37 21,739.37

EBITDA

EBITDA is an established measure of operating performance and liquidity that is commonly reported and widely used by analysts, investors, and other interested parties in the telecommunications industry because it eliminates many differences in financial, capitalization, and tax structures, as well as non-cash and non-operating charges to earnings. We believe that EBITDA trends are a valuable indicator of whether our operations are able to produce sufficient operating cash flow to fund working capital needs, service debt obligations, and fund capital expenditures. EBITDA equals net income (loss), before interest expense, income tax expense (benefit), depreciation and amortization expense, investment income, equity in earnings of affiliated companies, gain (loss) on sale of investment, impairment charges, and net income from discontinued operations. EBITDA also now includes the cash distributions we receive from the equity in earnings of affiliated companies. Although we do not have majority voting control of such companies, we have the ability to significantly influence financial and accounting policies.

The inclusion of cash received from equity companies is a change from past practice.

Three Months Ended Year Ended Dec.

31, Dec.

31, 2016 2015 2016 2015 EBITDA Operating Subsidiaries $ 9,107 $ 8,686 $ 34,516 $ 34,058 Cash received from equity affiliates 650 600 1,950 2,350 9,757 9,286 36,466 36,408 Corporate Office Expense (1,066 ) (811 ) (3,833 ) (2,936 ) Total EBITDA 8,691 8,475 32,633 33,472 Depreciation and amortization (4,820 ) (4,392 ) (17,973 ) (17,730 ) Less Cash received from equity affiliates, above (650 ) (600 ) (1,950 ) (2,350 ) Operating profit $ 3,221 $ 3,483 $ 12,710 $ 13,392

References

  1. ^ BUSINESS WIRE (www.businesswire.com)
  2. ^ www.lictcorp.com (cts.businesswire.com)
  3. ^ http://www.lictcorp.com (cts.businesswire.com)