Category Archives: News

NORTHSTATE REPORTS THIRD QUARTER 2017 RESULTS

High Point, NC—NOVEMBER 16, 2017—NorthState, a leading fiber optic network, cloud and IT services provider, announced today its financial results for the third quarter and nine months ended September 30, 2017.

Summary of Selected Financial Data 

Quarter Ended September 30, 2017 versus Quarter Ended September 30, 2016

  • Consolidated net operating revenue (NOR) for the quarter totaled $29.7 million, up 1% compared to third quarter 2016.
  • Total strategic revenue1 of $20.6 million, up 2%.  Strategic revenue comprised 69% of NOR.
  • Net income of $1.1 million compared to $2.4 million.
  • Earnings per share of $0.47 compared to $1.04.

Nine Months Ended September 30, 2017 versus Nine Months Ended September 30, 2016

  • Consolidated NOR of $87.2 million, up 1% compared to 2016.
  • Total strategic revenue1 of $59.6 million, up 5%, and 69% of NOR.
  • Net income of $3.6 million compared to $7.2 million.
  • Earnings per share of $1.57 compared to $3.14.

Comparative net income and EPS were impacted by $0.7 million and $1.9 million in the three-month and nine-month 2017 periods, respectively, for restructuring charges associated with the formation of our integrated information technology services unit that we announced in May 2017 and by lower non-operating income reflective of reduced contribution from our wireless partnership.

Chief Executive Officer Royster Tucker III said, “During the third quarter we completed the integration of our information technology services unit, now operating under a single, unified NorthState brand and leadership.  While the integration has impacted our financial results this year, we are better organized for rapid growth.  In addition, we took other actions to invest in our future, including starting to ramp up our salesforce to support our growth plans for 2018.  During the period, we also met a milestone in NorthState’s service to residential customers by now passing a total of more than 70,000 households with fiber.

“With the recent appointment of Jeff Chapman as Executive Vice President, Operations, we have completed the realignment of our executive leadership team and are well positioned to continue transforming our business through a market-leading focus on fiber and IT solutions, bringing first-class experiences and outcomes to our customers.”

For further details on North State’s financial results for the third quarter of 2017, please see the financial tables included in the press release on the company’s website at: Q3 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 North State 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 NorthState
NorthState (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, NorthState 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:
NorthState
Andrew Stevenson
336-886-3801
investor.relations@nscom.com
LHA
Harriet Fried, SVP
212-838-3777
hfried@lhai.com

NORTHSTATE APPOINTS JEFF CHAPMAN EXECUTIVE VICE PRESIDENT, OPERATIONS

Current COO Nick Kottyan to leave the company at year end

High Point, NC—November 9, 2017 — NorthState, a leading fiber optic network, cloud and IT services provider, today announced that Jeff Chapman is joining the company as Executive Vice President, Operations, providing leadership around the company’s network expansion and customer operations, while playing a key role in NorthState’s offering of next-generation fiber services to support the growing array of applications requiring fiber infrastructure.  The appointment is effective December 4, 2017.

Mr. Chapman joins NorthState from Bridgepoint Communications Inc., a Dallas, TX-based fiber optic construction company, where he served as Chief Executive Officer since February 2015.  Prior to that, he was Executive Vice President for Construction and Engineering at FiberLight, a fiber optic service provider, with responsibility for all engineering, construction and network design activities.  He was previously a founding member and Vice President, Operations of fiber optic service provider PEG Bandwidth, leading PEG’s growth and operations in 14 states.

NorthState Chief Executive Officer Royster Tucker III commented, “We are excited to bring Jeff on board to support our growing fiber focus and ongoing efforts to be the best there is across all of our customer touch points.  He has a track record of delivering strong leadership and having high impact on growing businesses.  His ability to manage across multiple functional areas provides great flexibility to put his talents to work.”

Mr. Chapman will assume a number of the responsibilities of current Executive Vice President, COO Nick Kottyan, who is leaving the company at the end of the year.  Mr. Kottyan joined NorthState in 2011 through the acquisition of DataChambers.

Mr. Tucker added, “Nick has played a key role in the design of our strategic direction.  We thank him for his many contributions and for assisting with a smooth transition of responsibilities.  We wish him the very best.”

About North State

NorthState (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, NorthState 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:
Media Contact:
Scott Carpenter
Capture Public Relations & Marketing
(336) 722-9660 or scott@capturevalue.com

Investor Relations Contact:
Harriet Fried
LHA
(212) 838-3777 or hfried@lhai.com

 

NORTHSTATE ANNOUNCES QUARTERLY DIVIDEND

High Point, NC—November 9, 2017—NorthState, a leading fiber optic network, cloud and IT services provider, announced today that the board of directors of NorthState declared a cash dividend of $1.30 per share on the company’s common stock.  The dividend is payable on December 5, 2017 to stockholders of record on November 20, 2017.

About NorthState
NorthState (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, NorthState 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:
NorthState                                                             LHA
Andrew Stevenson                                                Harriet Fried, SVP
336-886-3801                                                        212-838-3777
investor.relations@nscom.com                             hfried@lhai.com

NORTH STATE REPORTS SECOND QUARTER 2017 RESULTS

High Point, NC—AUGUST 17, 2017—North State, a leading fiber optic network, cloud and IT services provider, announced today its financial results for the second quarter and six months ended June 30, 2017.

Summary of Selected Financial Data 

Quarter Ended June 30, 2017 versus Quarter Ended June 30, 2016

  • Consolidated net operating revenue (NOR) for the quarter totaled $28.4 million, up 2% compared to second quarter 2016.
  • Total strategic revenue1 of $19.1 million, up 6%.  Strategic revenue comprised 67% of NOR.
  • Net income of $0.3 million compared to $2.4 million.
  • Earnings per share of $0.09 compared to $1.05.

Six Months Ended June 30, 2017 versus Six Months Ended June 30, 2016

  • Consolidated NOR of $57.5 million, up 2% compared to 2016.
  • Total strategic revenue1 of $39 million, up 5%, and 68% of NOR.
  • Net income of $2.5 million compared to $4.8 million.
  • Earnings per share of $1.11 compared to $2.10.

Chief Executive Officer Royster Tucker III said, “Demand in both our Internet & Communications and IT Services & Hardware segments provided solid revenue performance in the second quarter.  Although financial results for the period were impacted by $1.2 million in restructuring charges related to the formation of our new, integrated information technology services business unit in May, we are continuing to drive growth as we execute on our fiber and IT focused business strategy.”

Mr. Tucker continued, “To support this growth, we recently promoted Glenn Johnson to Executive Vice President and Chief Information Officer/Chief Information Security Officer.  Glenn previously served as Chief Technology Officer and Chief Information Security Officer of Stalwart Systems, a company North State acquired in 2015 and integrated into our Technology Solutions business unit.  Glenn’s new role underscores our focus on strategically using secure technology to deliver great experiences and outcomes for our customers.  We welcome his experience and vision as we continue to build on our strong technology base.”

For further details on North State’s financial results for the second quarter of 2017, please see the financial tables included in the press release on the company’s website at: Q2 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 North State 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 Promotes Glenn Johnson to Executive Vice President and Chief Information Officer/Chief Information Security Officer

Greenville, SC—August 11, 2017 — North State, a technology company based in High Point, NC, today announced the promotion of Glenn Johnson to Executive Vice President and Chief Information Officer/Chief Information Security Officer (CIO/CISO).  Johnson will provide leadership to the company’s information systems and related technologies.  He will also oversee corporate-wide governance, policy and strategic direction at North State for all companywide and business unit Information Technology and IT security functions.

Johnson previously served as Chief Technology Officer and Chief Information Security Officer of Stalwart Systems, a company acquired by North State in 2015 and integrated into its Technology Solutions business unit.  Earlier in his career, Johnson held senior-level technical positions in security, networking and Unix administration for two Fortune 100 companies and served in a lead capacity for a NASA enterprise rollout.

“We  are excited to have Glenn as our CIO/CISO and as part of our executive leadership team,” North State  Chief Executive Officer Royster Tucker III said. “Glenn’s new role underscores North State’s focus on strategically using secure technology to deliver great experiences and outcomes for our customers.  We welcome his experience and vision as we continue to build on our strong technology base.”

“I am excited to become CIO/CISO during this exciting time of growth and change,” Johnson said. “Not only is the company providing vital technology IT solutions to customers, but it is also committed to enhancing and leveraging its own IT systems.  I look forward to working with the executive team and the outstanding group of IT professionals to help shape the IT strategy for North State.”

Johnson is a Certified Information Systems Security Professional (CISSP), Certified Information Security Auditor (CISA), Information Systems Security Professional (INFOSEC) and Certified Information Security Manager (CISM), and holds the GIAC Continuous Monitoring Certification (GMON) and Certificate of Cloud Security Knowledge (CCSK).  In addition, Johnson is Certified in Risk and Information Systems Control (CRISC).

Johnson received BS and MS degrees in information systems from La Salle University.

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

Media contact
Scott Carpenter
336.722.9660 or scott@capturevalue.com

Investor Relations contact
Harriet Fried
LHA
(212) 838-3777 or hfried@lhai.com

 

NORTH STATE ANNOUNCES QUARTERLY DIVIDEND

High Point, NC—August 10, 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 September 5, 2017 to stockholders of record on August 21, 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 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                                                             LHA
Andrew Stevenson                                                 Harriet Fried, SVP
336-886-3801                                                         212-838-3777
investor.relations@nscom.com                              hfried@lhai.com

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 CREATES INTEGRATED IT SERVICES BUSINESS UNIT

Expanded focus on growing information technology services
throughout the Southeast U.S.

High Point, NC—May 16, 2017—North State, a leading fiber optic network, IT security, data center and cloud services provider, has created a new, integrated IT services business unit.  The new business unit, Technology Solutions, will operate under a single, unified North State brand, and arises from the integration of company subsidiaries, DataChambers, a leading data center / colocation and cloud service provider; and Stalwart Systems, a best-in-class IT services, cloud integration and IT security provider.

The formation of Technology Solutions is the next step in North State’s strategy to build a comprehensive digital ecosystem to serve its customers’ data center, IT security and cloud services needs.

“North State’s leadership team is incredibly excited about the opportunities that lie ahead to better serve our customers.  This is a logical progression in fulfilling our vision to help businesses securely take advantage of the cloud and thrive within the highly complex digital world,” said Royster Tucker III, North State Chief Executive Officer.

“The new business unit provides North State with a platform for strategic growth throughout the Southeast and furthers our ability to effectively address the significant information technology challenges that businesses are facing,” Tucker added.  “More than a century after its founding, North State is a company that continues to be forward-looking and promises to be an industry leader for both business and residential customers.”

Joel Lemke has joined North State as Executive Vice President and President of the Technology Solutions business unit.  An experienced senior executive, Lemke formerly served in leadership positions for prominent companies such as IBM, where he oversaw a substantial solution portfolio, and Dassault Systemes, where he led a significant global brand.  In addition, he founded a successful Value Added Reseller company, Novaquest.  Lemke has more than 30 years’ experience in strategy, product development, marketing, sales, services and support, primarily in software and software services.  Bill Cooper, President and CEO of Stalwart, will move into a strategic advisor role and stay through the transition.

“Joel is a growth-oriented executive with strong leadership strengths in strategic planning, team building, communication, measured operational performance, change management and disciplined project management,” Tucker said.  “He has deep expertise in developing and leading the execution of strategies for long-term strategic growth.  Joel is the ideal person to lead the Technology Solutions business unit, and we welcome him to the North State team.”

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:
Media Contact:
Scott Carpenter
Capture Public Relations & Marketing
(336) 722-9660 or scott@capturevalue.com

Investor Relations Contact:
Harriet Fried
LHA
(212) 838-3777 or 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

Reminder: Round One Applications to Ignite NC Due April 3

Greensboro, North Carolina – MARCH 27, 2017 – Applications to Ignite NC, a statewide competition seeking application developers or entrepreneurs who have compelling, innovative, and future-forward ideas designed for Gigabit networks usage, are due April 3.  The Ignite NC competition, which is part of the larger US Ignite competition, is being produced with the support and partnership of NC Next Generation Networks, US Ignite and the National Science Foundation.

The Ignite NC competition is challenging the most innovative, creative and brightest engineers entrepreneurs, developers, designers, data scientists, coders and civic hackers to develop ideas for a chance to win one of two $19,000 prizes. Up to 10 winning finalist teams for North Carolina will be announced by April 11.

The North Carolina competition is being sponsored by US Ignite, North State and IBM Bluemix™.  In addition to ultra-fast gigabit Internet services in the Piedmont Triad region, North State delivers best-in-class IT and cyber-security solutions in the southeast U.S. through its Data Chambers and Stalwart subsidiaries.

North Carolina’s competition is part of US Ignite’s Smart Gigabit Communities initiative, which is powered by a network of communities nationwide that have each committed to leverage next-generation Internet technologies to keep pace with the world’s rapidly changing, technology-driven innovation economy. Each Smart Gigabit Community agrees to develop and share its gigabit applications with other communities in the network.

For more information, please visit: www.IgniteNC.co

About New City Ventures
We advise and assist communities, companies, institutions and organizations who want to build their entrepreneurial and innovation capacity. We deploy programs, engagement strategies, asset identification and communications to activate and grow local and regional economies by connecting fresh ideas and diverse communities with an entrepreneurial approach. www.newcityventures.net

About RiOT
RIoT represents a network of technologists, engineers, business leaders, academics, policy makers, and entrepreneurs, all of whom have a stake in the Internet of Things industry. Companies ranging from startups to international heavyweights meet frequently to exchange ideas, to learn new technologies, and to create new opportunities. The Internet of Things is here, and it’s growing. Our mission is to create a community that captures IoT opportunities locally, nationally, and globally. www.ncriot.org

About NCNGN
North Carolina Next Generation Network (NCNGN) is a regional initiative focused on stimulating the deployment of next generation broadband networks in North Carolina. The coordinated effort is led by six municipalities and four leading research universities and supported by local Chambers of Commerce and businesses in the Research Triangle and Piedmont regions. NCNGN’s goal is to encourage private sector providers to deliver ultra-fast bandwidth at highly affordable prices to ensure our regions and state remain competitive and at the forefront of developing the next-generation applications essential to all sectors of the economy. www.ncngn.org

About US Ignite
US Ignite nurtures the creation of next-generation applications and services that run on advanced networks to create Smart Communities throughout the world.  The organization helps to accelerate new wireless advances from research to prototype to full-scale Smart City development. Americans across the country are starting to experience transformative, next-generation applications. Simultaneously, US Ignite is identifying and driving new economic and social opportunities and accelerating the adoption of ultra-fast broadband in communities nationwide. www.usignite.org

About the National Science Foundation
The National Science Foundation (NSF) is an independent federal agency that supports fundamental research and education across all fields of science and engineering. In fiscal year (FY) 2016, its budget is $7.5 billion. NSF funds reach all 50 states through grants to nearly 2,000 colleges, universities and other institutions. Each year, NSF receives more than 48,000 competitive proposals for funding and makes about 12,000 new funding awards. NSF also awards about $626 million in professional and service contracts yearly.

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.

Media Contacts

US IGNITE
Caitlin Scott
Full Court Press Communications
caitlin@fcpcommunications.com
510-550-8176

NCNGN
Dennis Newman
dennis.newman@duke.edu
336-414-0889

RIoT
Bob Stennett
bob@ncriot.org
919-949-2284

New City Ventures
April Harris
april@newcityventures.net
336-686-0288

North State
Scott Carpenter
Capture Public Relations
scott@capturevalue.com
336-722-9660