Washington, D.C. 20549

Form 8-K


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): April 7, 2020  

Otelco Inc.
(Exact Name of Registrant as Specified in Charter)

(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification Number)


505 Third Avenue East, Oneonta, AL 35121
(Address of Principal Executive Offices) (Zip Code)

(205) 625-3574
(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 [   ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 [   ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 [   ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 [   ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Securities registered or to be registered pursuant to Section 12(b) of the Act:


Title of each classTrading Symbol(s)Name of each exchange on which registered

Class A Common Stock

($0.01 par value per share)

OTELThe Nasdaq Stock Market LLC


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [   ]


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [   ]



Item 7.01. Regulation FD Disclosure.

On April 7, 2020, Otelco Inc. issued a press release announcing that it will issue its results of operations for the first quarter of 2020, after the market closes on May 4, 2020, and hold a conference call to discuss the results of operations on May 5, 2020, at 11:30 a.m. EDT. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 8.01. Other Events.

     Otelco Inc. (the “Company”) is filing this Current Report on Form 8-K to furnish a press release issued by the Company announcing the schedule for its first quarter 2020 earnings release and providing an operational update regarding the Company’s response to the impacts that coronavirus (COVID-19) has had on the Company and its stakeholders.

    The Company is monitoring developments related to COVID-19 and continues to take steps intended to ensure the availability of its critical voice and data services, promote the safety and security of its employees and customers and support the communities in which it operates. These measures include, among other things, providing alternative working arrangements for its office-based employees, developing alternative installation and repair services that avoid technicians entering the customer’s premises when appropriate, providing support for our customers who have been affected by the coronavirus on payment strategies that avoid discontinuance of voice and data services during this challenging period, and closing certain of our local public offices.

    Today, the Company continues to install and maintain customer service within normal service intervals. This is, however, a rapidly evolving situation, and we cannot predict the extent or duration of the outbreak, the effects of it on the global, national or local economy, or its effects on our financial condition, results of operations and cash flows. We will continue to monitor developments affecting our employees, customers, suppliers and operations and take additional steps to address the spread of COVID-19 and its impacts, as necessary. While the Company expects to take advantage of new federal and state legislation that provides benefits to affected employees and businesses, the impact of such programs on its cash flows cannot be predicted at this time.

     A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

Exhibit No. Description
99.1 Press Release Dated April 7, 2020


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 Otelco Inc.
Date: April 7, 2020By: /s/ Curtis L. Garner, Jr.        
  Curtis L. Garner, Jr.
  Chief Financial Officer




ONEONTA, Ala., April 07, 2020 (GLOBE NEWSWIRE) -- Otelco Inc. (Nasdaq: OTEL), a wireline telecommunication services provider in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia, announced today that it will release its first quarter  2020 financial and operational results after the close of trading on Monday, May 4, 2020.  The Company will hold a conference call to discuss these results on Tuesday, May 5, 2020, at 11:30 a.m. (Eastern Time).  To listen to the call, participants should dial (856) 344-9299 approximately 10 minutes prior to the start of the call.  A telephonic replay will be available from 2:30 p.m. (Eastern Time) on May 5, 2020, through May 14, 2020, by dialing (719) 457-0820 and entering Confirmation Code 7244549.

The live broadcast of Otelco’s quarterly conference call will be available online at www.Otelco.com on May 5, 2020, beginning at 11:30 a.m. (Eastern Time).  The online replay will be available at approximately 2:30 p.m. (Eastern Time) on May 5, 2020, and will continue to be available for 30 days.

Otelco provides essential voice and data services to our customers.  To continue to provide these services and, at the same time, protect our employees, the Company has positioned virtually all of its office-based employees to be able to perform their jobs while working remotely.  Access to our offices, as well as business and personal travel, has been restricted to limit the risk of coming in contact with the virus.

Our outside plant technicians are able to install and repair some services without entering the customer’s premises.  Self-service instructions are being provided to the customer to avoid indoor work when possible.  Installation of upgraded FTTP service and internet speed upgrades are being scheduled after telephone screening to ensure that no one in the home has symptoms of the virus or is under quarantine due to the virus  We are continuing these installations because we know that customer requirements for higher bandwidth have increased with the shelter-in-place restrictions.

While our local offices that take payments are closed, the Company provides several bill payment options which do not require an in-person visit.  In line with our industry’s response to the FCC and state public utility commission guidance, the Company is prepared to work with customers who have been affected by the coronavirus on payment strategies that avoid discontinuance of voice and data services during this challenging period.  Otelco is also offering new data service within the territories we serve at no cost for the first two months of service to students from low income families that qualify for free lunch or Lifeline.

Commenting on these operational changes at Otelco, Richard Clark, President and Chief Executive Officer, pointed out that the Company understands the challenges facing our customers as our employee body is facing many of the same obstacles to daily life as they live in the same communities we serve.  Clark said, “Our employees are juggling their work responsibilities, kids, first responder family members, aging relatives, and the daily stress of ensuring access to food and other essentials.  We expect to continue being part of the solution while we protect and minimize employee risk of contracting the virus.”  The Company expects to take advantage of new federal and state legislation that provides benefits to affected employees and businesses.


Otelco Inc. provides wireline telecommunications services in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia.  The Company’s services include local and long distance telephone, digital high-speed data lines, transport services, network access, cable television and other related services.  Otelco provides over 67,000 services to more than 32,000 customers, with approximately 10% of those customers served over its Lightwave product.  Otelco operates eleven incumbent telephone companies serving rural markets, or rural local exchange carriers.  It also provides competitive retail and wholesale communications services and technology consulting, managed services and private/hybrid cloud hosting services through several subsidiaries. For more information, visit the Company’s website at www.Otelco.com

Statements in this press release that are not statements of historical or current fact constitute forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “plans,” or similar terms to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Curtis Garner
Chief Financial Officer
Otelco Inc.