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NORTH STATE REPORTS FIRST QUARTER 2017 RESULTS

High Point, NC—MAY 18, 2017—North State, a leading fiber optic network, cloud and IT services provider, announced today its financial results for the first quarter ended March 31, 2017.

Summary of Selected Financial Data 

Quarter Ended March 31, 2017 versus Quarter Ended March 31, 2016

  • Consolidated net operating revenue (NOR) for the quarter totaled $29.1 million, up 1% compared to first quarter 2016.
  • Total strategic revenue1 of $19.8 million, up 5%.  Strategic revenue now comprises 68% of NOR.
  • Operating income remained constant at $2.5 million.
  • Net income of $2.3 million compared to $2.4 million.
  • Earnings per share of $1.01 compared to $1.04.

Chief Executive Officer Royster Tucker III said, “We continued to generate revenue growth for the period, benefiting from solid increases in our Internet and communications segment due to increased penetration and revenue from our fiber-connected customers.  In spite of a soft quarter in IT hardware sales, strategic revenues continue to offset declines in our legacy business.

“Earlier this week we announced the formation of a new, integrated information technology services business unit called “Technology Solutions” that will run under the North State brand.  This represents a further step in positioning North State to uniquely meet the rapidly changing needs of businesses.  The unit, arising from the integration of our subsidiaries DataChambers and Stalwart Systems, enhances our ability to address the complex IT challenges businesses face as they migrate to the cloud.”

On May 11, 2017 North State’s board of directors declared a cash dividend of $1.30 per share on the company’s common stock, payable on June 5, 2017 to stockholders of record on May 22, 2017.

For further details on North State’s financial results for the first quarter of 2017, please see the financial tables included in the press release on the company’s website at: Q1 2017 Earnings Report.

1 Total strategic revenue is strategic Internet and communications revenue and all IT services and hardware revenue, for both business and consumer segments.

Forward Looking Statements
The inclusion of forward-looking information should not be construed as a representation by us that our plans or expectations will be achieved.  We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About North State
North State (OTC: NORSA) (OTC: NORSB) is a technology company focused on inspiring the Internet-driven lifestyle through high touch experiences.  Its fiber-delivered, ultrafast Internet and Internet-driven applications enable residential customers and businesses to efficiently and securely take advantage of the Internet.  Through its Technology Solutions business unit, North State provides best-in-class data center colocation, customized cloud and IT solutions, managed disaster recovery services, managed security and unified communications.  For more information, visit northstate.net.

Contacts:
North State
Andrew Stevenson
336-886-3801
investor.relations@nscom.com
LHA
Harriet Fried, SVP
212-838-3777
hfried@lhai.com

 

NORTH STATE ANNOUNCES QUARTERLY DIVIDEND

High Point, NC—May 11, 2017—North State, a leading fiber optic network, cloud and IT services provider, announced today that the board of directors of North State declared a cash dividend of $1.30 per share on the company’s common stock.  The dividend is payable on June 5, 2017 to stockholders of record on May 22, 2017.

About North State
North State (OTC: NORSA) (OTC: NORSB) is a technology company focused on inspiring the Internet-driven lifestyle through high touch experiences. Its fiber-delivered, ultrafast Internet and Internet-driven applications enable residential customers and businesses to efficiently and securely take advantage of the Internet.  Through its wholly owned subsidiaries, Data Chambers and Stalwart Systems, North State provides best-in-class data center colocation, customized cloud and IT solutions, managed disaster recovery services, managed security and unified communications. For more information, visit northstate.net

Contacts:
North State                                                             LHA
Andrew Stevenson                                                 Harriet Fried, SVP
336-886-3801                                                        212-838-3777
investor.relations@nscom.com                              hfried@lhai.com

NORTH STATE REPORTS SECOND QUARTER 2016 RESULTS

Strong Performance Reflects Positive Impact of New Strategic Focus

High Point, NC—August 30, 2016—North State, a leading fiber optic network, cloud and IT services provider, announced today its financial results for the second quarter ended June 30, 2016.

Summary of Selected Financial Data

Quarter Ended June 30, 20161

  • Consolidated net operating revenue (NOR) of $27.8 million, up 20%.2
  • Total strategic revenue3 of $18.2 million, up 37%, and 65% of NOR.2
  • Operating income of $1.7 million, up 59%.
  • Net income of $2.4 million, up 26%.
  • EBITDA of $9.3 million, up 12%, representing a margin of 33%.
  • Earnings per share of $1.05, up 27%.
  • Total cash generation4 of $8.8 million, up 185%.
  • Capital expenditures of $5.1 million, up 2%.
  • Free cash flow5 of $3.7 million, up from negative $1.9 million.

Six Months Ended June 30, 20166

  • Consolidated NOR of $56.5 million, up 23%.2
  • Total strategic revenue3 of $37.1 million, up 44%, and 66% of NOR.2
  • Operating income of $4.3 million, up 40%.
  • Net income of $4.8 million, up 9%.
  • EBITDA of $18.3 million, up 8%, representing a margin of 32%.
  • Earnings per share of $2.09, up 9%.
  • Total cash generation4 of $18.5 million, up 66%.
  • Capital expenditures of $9.3 million, down 28%.
  • Free cash flow5 of $9.2 million, up from negative $1.8 million.

North State CEO Royster Tucker III commented, “North State’s journey forward in the second quarter resulted in strong performance, reflecting positive results as we execute on our strategy of delivering best in class business IT and cloud services and continued fiber network expansion enabling internet speeds of one gigabit per second. For the quarter, nearly 65% of our revenue came from business customers, enabled by our acquisitions in recent years in the data center and IT security space. Our colocation, cloud and IT security services have been a strong contributor to growing this customer base.

“At the same time, we expanded our strategic fiber-focused consumer business, which grew 15% as we expand fiber into new markets and increase penetration in existing markets. In addition, we realized strong operating leverage as we grew the company’s top line.”

Mr. Tucker concluded, “Demand for high-bandwidth IP-based data services is strong and the adoption of cloud services is accelerating. North State’s fiber expansion and IT services portfolio provide an excellent platform for growth.

“We recently partnered with a prominent set of lenders in a new credit facility that strengthens our ability to advance our transition into a leading provider of IT security, cloud and managed services for businesses as well as a strong, fiber-focused product line. In the second half of 2016, we plan to continue to build upon our strategy and leverage the assets we have in order to take advantage of the growing digital landscape.”

For more information, please see 2016 Q2 Earnings Report.

About North State

North State is a technology company focused on inspiring the Internet-driven lifestyle through high touch experiences. Its fiber-delivered, ultrafast Internet and Internet-driven applications enable residential customers and businesses to efficiently and securely take advantage of the Internet. Through its wholly owned subsidiaries, Data Chambers and Stalwart Systems, North
State provides best-in-class data center colocation, customized cloud and IT solutions, managed disaster recovery services, managed security and unified communications. For more information, visit northstate.net.

Contacts:
North State
Andrew Stevenson
336-886-3801
investor.relations@nscom.com

LHA
Harriet Fried, SVP
212-838-3777
hfried@lhai.com

 

1 All comparisons are between the three months ended June 30, 2016 and the three months ended June 30, 2015.
2 Largely due to the acquisition of Stalwart Systems in July of 2015 and revenue growth across all of our strategic services.
3 Total strategic revenue is strategic Internet and communications revenue and all IT services and hardware revenue, for both business and consumer segments.
4 Total cash generation is cash flows from operations plus partnership cash distributions.
5 Free cash flow is total cash generated minus capital expenditures.
6 All comparisons are between the six months ended June 30, 2016 and the six months ended June 30, 2015.

North state launches hbo® online offerings hbo go® and max go®

More Than 2,000 Titles Now Available Online to North State Customers Who Subscribe to HBO, with More Than 550 Additional Titles Available to Cinemax® Subscribers

High Point, NC—December 12, 2104—North State, a fiber-based Internet and cloud service provider, today announced the launch of HBO’s authenticated online video destinations, HBO GO® and MAX GO®. North State customers who subscribe to HBO or Cinemax will now have free, unlimited access to the corresponding online services at any time, on any computer in the U.S. with a high-speed Internet connection, as well as iPad®, iPhone®, iPod touch® and select Android devices. HBO subscribers can enjoy even more ways to watch on Apple TV®, Google Chromecast, Xbox 360®, Samsung® Smart TVs, Roku®, Kindle Fire and PlayStation®3.

“The addition of HBO GO and MAX GO to select Fiber TV customers is a highly anticipated upgrade to our TV2GO service,” said Royster Tucker III, CEO of North State. “The user experience and vast selection these two outlets provide is a fantastic complement to an already great service.”

HBO GO, which offers more than 2,000 titles online, allows North State–authenticated HBO customers to instantly watch every episode of every season of the best HBO shows. This includes current series like Game of Thrones®, True Blood® and Boardwalk Empire®, classics like The Sopranos®, Sex and the City® and Deadwood®, as well as HBO original films, miniseries, sports, documentaries, comedy specials, and hundreds of the latest blockbuster movies.

HBO’s sister service, MAX GO, adds more than 550 titles of Cinemax programming online, providing  instant access to hundreds of Hollywood hit movies, indies, cult favorites, the MAX After Dark series as well as new and exclusive, primetime high-impact drama series like Strike Back® and BansheeSM, specifically created for the channel.

With the online services, North State customers get most new titles simultaneously with their premiere on the networks; the ability to create a Watch list that keeps track of bookmarked content for later viewing; bonus content including interviews, recaps and behind-the-scenes extras; and customizable views showing titles in slideshow, grid or list format. In addition, HBO GO can be personalized through a Series Pass® capability which automatically alerts viewers to new episodes of favorite HBO programs when they arrive on the service.

HBO GO and MAX GO are the latest additions to HBO’s digital offerings and a perfect complement to HBO On Demand® and Cinemax On Demand® with even more viewing choices.  On both services, most programming is available in high definition.

To access online, North State’s HBO and Cinemax subscribers can go to HBOGO.com and MAXGO.com, or simply log onto northstate.net/tv2go. Subscribers can then sign in with their North State user ID and password, make their viewing selection and begin watching. To learn more about fiber offerings from North State in your area, visit NorthStateFiber.com.

Imagine. Able.

North State’s fiber network delivers Gigabit Internet and stunning HD directly to the homes and businesses of the Triad, putting everything customers can imagine at their fingertips the moment they imagine it. By creating a world of possibilities, North State wants customers to stop thinking about the things they can’t do and start to imagine all they’ll be able to.

About North State

North State provides homes and businesses with Gigabit speeds on a fiber optic network that includes TV, Internet and communication services. Through their wholly owned subsidiary, DataChambers, North State provides best-in-class data center collocation, cloud, managed data, and disaster recovery services to enterprise customers. Find out more at NorthStateFiber.com or DataChambers.com.

About HBO GO® and MAX GO®

HBO GO® and MAX GO® are only accessible in the US and certain US territories where a high speed broadband connection is available. Minimum 3G connection required for viewing on mobile devices. Some restrictions may apply. ©2014 Home Box Office, Inc. All rights reserved. HBO®, HBO GO®, Cinemax®, MAX GO®, and related channels and services marks are the property of Home Box Office, Inc. All devices, titles and related trademarks are property of their respective owners.

iPad®, iPhone® , iPod touch®  and Apple TV® are trademarks of Apple Inc., registered in the U.S. and other countries.

Android is a trademark of Google Inc. Use of this trademark is subject to Google Permissions.

Samsung is a registered trademark of Samsung Electronics Co., Ltd. HBO GO is not compatible with all models of Samsung® Smart TVs.

Roku and the Roku logo are trademarks of Roku Inc. in the United States and other countries.

Amazon, Kindle, Kindle Fire, and the AmazonKindle logo are trademarks of Amazon.com, Inc. or its affiliates.

“PlayStation” and “PS3” are registered trademarks of Sony Computer Entertainment, Inc.

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North state expands its gigabit offerings to signature northpoint luxury apartment homes

North State expands its gigabit offerings to Signature Northpoint Luxury Apartment homes

High Point, NC—October 28, a fiber-based Internet and cloud service provider, recently expanded its Fiber Internet and Fiber TV network to Signature Northpoint Apartments, located on Regency Drive in High Point, NC. This makes Signature Northpoint Apartments one of the first apartment communities in the Triad to offer North State’s Gigabit-speed products.

“Signature Northpoint Apartments is a great new luxury living area in the Triad,” said Royster Tucker III, CEO of North State. “Living there is living with our Fiber Internet at your doorstep, which opens up the potential to broaden how you live across the Internet and the Cloud, enjoying all the possibilities that the Internet has to offer”.

“Signature Northpoint Apartments is happy to welcome North State into the community,” said Seth Coker, President of Signature Property Group. “As a luxury apartment community, we maintain only the highest of standards and expect our residents to have access to the technology that parallels our high-end amenities. North State’s Gigabit Internet and stunning HD TV through their fiber network is a welcome addition, and we’re happy to offer it to our residents.”

North State’s fiber network boasts Internet speeds up to 1 Gigabit and more than 250 popular TV channels. Gigabit Internet provides customers with the speed to power every tablet, laptop, gaming system and streaming device in their homes.

To learn more about North State or to find out if fiber is available in your area, visit NorthStateFiber.com.

Imagine. Able.

North State’s fiber network delivers Gigabit Internet and stunning HD directly to the homes and businesses of the Triad, putting everything customers can imagine at their fingertips the moment they imagine it. By creating a world of possibilities, North State wants customers to stop thinking about the things they can’t do and start to imagine all they’ll be able to.

About North State

North State provides homes and businesses with Gigabit speeds on a fiber optic network that includes TV, Internet and communication services. Through their wholly owned subsidiary, DataChambers, North State provides best-in-class data center collocation, cloud, managed data, and disaster recovery services to enterprise customers. Find out more at NorthStateFiber.com or DataChambers.com.

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North state adds the sec network to its fall sports lineup

North state adds the sec network to its fall sports lineup

High Point, NC—October 21, 2014—North State now carries a new network for sports fans: the SEC Network. The SEC Network boasts 24/7 coverage of men’s and women’s basketball, football, softball and other sports as well as replays of classic games and original studio programming across 14 top-tier teams.

“North State has supported our sports fans with targeted, high-quality sports programming,” said Royster Tucker III, Chief Executive Officer of North State, “and the SEC Network continues that trend. This addition to our extraordinary sports lineup delivers another piece to any sports lover’s TV schedule.”

The SEC Network will deliver at least 45 exclusive SEC football games this season. The network will also serve as an all-access pass to nationally competitive events, news and information, expert analysis, classic games, and in-depth features on the most storied conference in college athletics.

To learn more about North State or to find out if fiber is available in your area, visit NorthStateFiber.com.

Imagine. Able.

North State’s fiber network delivers Gigabit Internet and stunning HD directly to the homes and businesses of the Triad, putting everything customers can imagine at their fingertips the moment they imagine it. By creating a world of possibilities, North State wants customers to stop thinking about the things they can’t do and start to imagine all they’ll be able to.

About North State

North State provides homes and businesses with Gigabit speeds on a fiber optic network that includes TV, Internet and communication services. Through their wholly owned subsidiary, DataChambers, North State provides best-in-class data center collocation, cloud, managed data, and disaster recovery services to enterprise customers. Find out more at NorthStateFiber.com or DataChambers.com.

About the SEC Network:

The Southeastern Conference and ESPN have signed a 20-year agreement through 2034 to create and operate a multiplatform network that launched August 14, 2014. The new network and its accompanying digital platform will air SEC content 24/7, including more than 1,000 events in its first year. The network will televise 45 SEC football games, more than 100 men’s basketball games, 60 women’s basketball games, 75 baseball games and events from across the SEC’s 21 sports annually. Programming will also include in-depth commentary and analysis in studio shows, daily news and information, original content such as SEC Storied, spring football games, and more. Hundreds of additional live events from various sports will be offered exclusively on the digital platform.

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Two more reasons to become a north state fiber tv customer

New offerings include wireless receivers and Enhanced DVR

High Point, NC—October 16, 2014—North State is pleased to announce that it now offers both wireless receivers and Enhanced DVR to Fiber TV customers. Both of these new services give Fiber TV customers the freedom to enjoy their favorite shows anywhere in their home. Enhanced DVR offers approximately 500 Gigabytes of storage space, allowing customers to record and watch more than 100 hours of their favorite shows on their own schedule.

“With wireless receivers, customers can enjoy the big game on their back porch every weekend, and with Enhanced DVR, our customers decide when it is convenient for them to watch their favorite shows,” said Royster Tucker III, Chief Executive Officer at North State. “Our Fiber TV is a great product in itself, and with the inclusion of these two new offerings, we’re taking a further step in creating options that our customers can use to make their Fiber TV experience the best possible.”

To learn more about Enhanced DVR and wireless receivers or to find out if fiber is available in your area, visit NorthStateFiber.com.

Imagine. Able.

North State’s fiber network delivers Gigabit Internet and stunning HD directly to the homes and businesses of the Triad, putting everything customers can imagine at their fingertips the moment they imagine it. By creating a world of possibilities, North State wants customers to stop thinking about the things they can’t do and start to imagine all they’ll be able to.

About North State

North State provides homes and businesses with Gigabit speeds on a fiber-optic network that includes TV, Internet and communication services. Through their wholly owned subsidiary, DataChambers, North State provides best-in-class data center collocation, cloud, managed data, and disaster recovery services to enterprise customers. Find out more at NorthStateFiber.com or DataChambers.com.

# # #

United way of greater high point receives large donation from north state

North State is one of the top 15 United Way corporate donors in the Greater High Point region

High Point, NC—September 25, 2014—North State, a fiber-based Internet and cloud service provider, recently donated $101,500 to the United Way of Greater High Point (“UWGHP”). North State has been a long-time supporter of the UWGHP with a pledge life of more than $1.1 million.

“We couldn’t be happier with this year’s campaign,” said Royster Tucker III, Chief Executive Officer at North State. “This is something that we have done for a long time, but it is great having such a large increase in 2014 from our organization. We are proud of this year’s results and hope this momentum continues to roll into our other community initiatives.”

“Our entire community—particularly the more than 75,000 individuals who are directly helped each year by a United Way agency—are both awed and appreciative of the phenomenal increase at North State this year,” said Bobby Smith, President of the United Way of Greater High Point. “The $40K jump will go down as one of the largest in the history of our United Way, and it also places North State among the top 15 largest donor corporations.”

“North State, a pacesetter in our area, is an organization that year after year produces early campaign momentum for the general campaigns,” said Jane Liebscher, the VP of Resource Development on Pacesetters. “They also help the United Way of Greater High Point’s Cabinet determine the overall campaign goal.”

The internal campaign theme was “Be a Hero.” North State employees participated in competitive challenges between departments raising $51,500 in just nine days. North State matched this year’s donation with an additional $50,000.

To learn more about North State or to find out if fiber is available in your area, visit NorthStateFiber.com.

Imagine. Able.

North State’s fiber network delivers Gigabit Internet and stunning HD directly to the homes and business of the Triad, putting everything customers can imagine at their fingertips the moment they imagine it. By creating a world of possibilities, North State wants customers to stop thinking about the things they can’t do and start to imagine all they’ll be able to.

About North State

North State provides homes and businesses with Gigabit speeds on a fiber optic network that includes TV, Internet and communication services. Through their wholly owned subsidiary, DataChambers, North State provides best-in-class data center collocation, cloud, managed data, and disaster recovery services to enterprise customers. Find out more at NorthStateFiber.com or DataChambers.com.

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North state to serve as the official fiber internet provider of nc’s oldest festival

NORTH STATE TO SERVE AS THE OFFICIAL FIBER INTERNET PROVIDER OF NORTH CAROLINA’S OLDEST FESTIVAL

North State providing Fiber Internet at Everybody’s Day in Thomasville

High Point, NC—September 23, 2014North State, a fiber-based Internet and cloud service provider, is the Official Fiber Internet Provider of the 2014 Everybody’s Day. Everybody’s Day is a street festival dating back more than 100 years in Thomasville, NC and is the oldest festival in North Carolina. This year it’s being held in Downtown Thomasville on September 27th between 9:00 a.m. and 5:00 p.m.

“We’re very happy to be partnered with the Thomasville Chamber of Commerce as the fiber Internet provider of this year’s Everybody’s Day festival,” said Royster Tucker III, Chief Executive Officer at North State. “Increasing possibilities through our fiber network is at the core of North State’s approach, and we’re excited to share this with our neighbors in Thomasville.”

“We are so excited to have North State partnering with us,” said Doug Croft, President of the Thomasville Area Chamber of Commerce. “Everybody’s Day may hold the title of North Carolina’s oldest festival, but we are very modern in our approach to community involvement.”

To learn more about North State or to find out if fiber is available in your area, visit NorthStateFiber.com.

Imagine. Able.
North State’s fiber network delivers Gigabit Internet and stunning HD directly to the homes and business of the Triad, putting everything customers can imagine at their fingertips the moment they imagine it. By creating a world of possibilities, North State wants customers to stop thinking about the things they can’t do and start to imagine all they’ll be able to.

About North State
North State provides homes and businesses with Gigabit speeds on a fiber optic network that includes TV, Internet and communication services. Through their wholly owned subsidiary, DataChambers, North State provides best-in-class data center collocation, cloud, managed data, and disaster recovery services to enterprise customers. Find out more at NorthStateFiber.com or DataChambers.com.

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