Operator: Good day, and welcome to Otelco's 4Q '20 Earnings Conference Call. Today's conference is being recorded. At this time for opening remarks and introductions, I'd like to turn the call over to Ms. Dru Anderson. Please go ahead, ma'am.

Dru Anderson: Thank you, John, and welcome to the Otelco conference call to review the company's results for the fourth quarter and year-ended December 31, 2020. Conducting the call today will be Richard Clark, President and Chief Executive Officer; and Curtis Garner, Chief Financial Officer. Richard will provide an update on the company's adjustments during and performance under the changed environment caused by the COVID-19 pandemic, the Oak Hill Capital transaction, and strategic and operational highlights from fourth quarter results. Curtis will highlight the financial results for the quarter. And then, we will take questions on quarterly results from investors. As a reminder, the earnings press release and the company's Form 10-K are now available in the Investors section of the company's Web site, which is located at otelco.com. Before we start, let me offer the cautionary note that statements made during this call 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 have caused 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. With that stated, I will now turn the call over to Richard.

Richard Clark: Thank you, Dru. Good morning to everyone joining us this morning for an update on Otelco's fourth quarter 2020 operational and financial results. I hope that you and your extended families, both home and work, remained healthy through these challenging times of social distancing, mask, virus testing, and vaccine. I appreciate the opportunity this morning to update you today on Otelco's results and activities. Let's start with an update on Otelco's actions during the COVID-19 pandemic. We've had an essential role to provide critical data and voice services to our customer's needs at all times, but especially now as working, learning, and playing home serves a vital role in affecting the spread of the virus. Since the outbreak, Otelco has adjusted our operations as needed to mitigate the potential risk related to COVID-19 to our employees and our customers, while continuing to provide communication services needed by our customers. As more vaccines become available, we expect our workers to be designated as essential, allowing them to register more quickly for vaccination, leading to fewer employees needing to work from home and lower risk from spreading the virus. The measures implemented by the company allowed us to experience no significant adverse impact on the results of operations in 2020. We like our customers look forward to the time when life returns to something closer to the pre-COVID-19 conditions. Turning to our pending acquisition by Oak Hill Capital, you may be a little frustrated the transaction has not closed yet allowing you to receive the $11.75 per share in cash. All regulatory filings have been made and where required hearing scheduled. Each jurisdiction has its own schedule for issuing a required approval. Our latest estimate is that all approval will be finalized and released in the next four to six weeks. Closing will occur as quickly as possible after the last order is published. In the interim, under contract with Oak Hill, we have already started the process necessary to build new growth fiber, engineering more than 800 miles through February, and beginning all the nitty-gritty work which proceeds fiber installation. Now looking at the fourth quarter operational results; revenues for the fourth quarter of 2020 declined $0.1 million or 0.5% from the fourth quarter of 2019, primarily from a reduction in voice services and access fees, partially offset by increases in Internet services. Revenues declined $0.1 million sequentially from the third quarter of 2020. We completed a number of key network improvement projects in the fourth quarter that were focused on providing enhanced data speeds to our customers. The upgrade of our cable systems to DOCSIS 3.1 allowed customers served over the cable network to have the option for gigabit speed Internet capability. The completion of our VDSL upgrade in certain markets increased speed options for the customers served. As noted in the press release, 27% of our market we serve can now have gigabit speed data, and another 21% can get speeds of 25 megabits or higher. The company invested $2 million in the fourth quarter and $10 million for 2020 in this infrastructure. Our primary objective remains simple, and has not changed; improved service capabilities and add new customers to the Otelco family of companies. Looking ahead with the support of Oak Hill partners, we greatly enhance our ability to meet that objective. Curtis will now summarize the fourth quarter financial results.

Curtis Garner: Thank you, Richard. We appreciate everybody joining us today. The press release we issued yesterday contains the details of our fourth quarter results and our 10-K filing last night provides the details of our 2020 results. There were no significant changes in the trends reflected in the results for the quarter. I'll mention a few financial highlights for fourth quarter, and then we can take everyone's questions. Unless, otherwise noted, every comparison does against the same period in the previous year. Total revenues, as Richard mentioned, decreased to 0.5% to $15.5 million from $15.6 million. The decrease was primarily due to the decrease in residential local services and traditional access revenue affected by the FCC's intercarrier compensation order. These were partially offset by an increase in Internet services. The breakdown of revenue for fourth quarter compared to fourth quarter of 2019 local services decreased 5.5% to $4.5 million from $4.7 million, network access revenue decreased 5.6% to $4.9 million from $5.2 million, Internet revenue increased 13.5% to $4.1 million from $3.6 million, transport services revenue was basically unchanged at $1.1 million, video and security revenue was basically unchanged at $0.7 million, and managed services revenue was basically unchanged from $0.2 million. Moving onto the operating expenses for fourth quarter, our operating expenses increased 5.3% to $12.7 million from $12.1 million, the cost of services increased 7.7% to $8 million from $7.4 million, higher Internet cable programming, total and circuit expense accounted for an increase of $0.5 million, and higher customer service expense accounted for an increase of $0.1 million. Selling, general and administrative expenses decreased 4.7% to $2.5 million from $2.7 million, legal costs accounted for a decrease of $0.2 million, while an increase in self-insured medical expense accounted for an increase of $0.1 million. Depreciation and amortization increased 10.3% to $2.1 million from $1.9 million, reflecting an increase in RLEC depreciation for increased investment in data services capabilities, as Richard mentioned. Operating income for the fourth quarter 2020 was $2.8 million compared to $3.5 million for the fourth quarter of 2019. Interest expense declined $0.3 million for the quarter, reflecting lower interest rates, and the reduction in principal outstanding under the company's credit agreement. Net income was $1.4 million in fourth quarter 2020 compared to $2 million in fourth quarter 2019. Basic net income per share was $0.42 for fourth quarter 2020 compared to $0.58 per share for the same period in 2019. Consolidated EBITDA was $5 million for fourth quarter 2020 compared to $5.6 million for the same period in 2019. Our balance sheet reflects cash of $8.4 million at the end of fourth quarter with the proceeds of the $3 million Paycheck Protection Loans which was received in April of 2020, that contributing to the current cash level that's compared to $3.1 million at the end of 2019. The company's leverage ratio of consolidated indebtedness to consolidated EBITDA was 3.16 at the end of fourth quarter, reflecting the use of additional cash generated from business operations to improve our network. Our ratio of debt net of cash to consolidated EBITDA was 2.89. That covers the financial highlights for the quarter. James, if you will provide directions we can shift to take some questions from our investors at this time.

Operator:

Richard Clark: We'd like to thank you and appreciate you joining us this morning. Please stay healthy.

Operator: And that will conclude today's conference. Thank you for your participation. You may now disconnect.