Otelco (OTEL) 10-K 8 Mar 19 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Mar. 01, 2019	Jun. 30, 2018
Document Information [Line Items]
Entity Registrant Name	OTELCO INC.
Entity Central Index Key	1,288,359
Trading Symbol	otel
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Public Float			$ 35.8
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		0
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		3,388,624

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 4,657	$ 3,570
Accounts receivable:
Due from subscribers, net of allowance for doubtful accounts of $577 and $226, respectively	4,183	4,647
Other	1,899	1,875
Materials and supplies	2,802	2,700
Prepaid expenses	1,198	3,122
Total current assets	14,739	15,914
Property and equipment, net	52,073	50,888
Goodwill	44,976	44,976
Intangible assets, net	919	1,328
Investments	1,498	1,632
Interest rate cap	4
Other assets	143	201
Total assets	114,352	114,939
Current liabilities
Accounts payable	1,331	1,619
Accrued expenses	5,054	4,803
Advance billings and payments	1,614	1,684
Customer deposits	48	58
Notes payable, net of debt issuance cost, current	3,904	3,891
Total current liabilities	11,951	12,055
Deferred income taxes	20,145	18,939
Advance billings and payments	2,234	2,367
Other liabilities	13	13
Notes payable, net of debt issuance cost, long-term	69,107	80,058
Total liabilities	103,450	113,432
Stockholders' equity
Additional paid in capital	4,213	4,285
Retained earnings (accumulated deficit)	6,655	(2,812)
Total stockholders' equity	10,902	1,507
Total liabilities and stockholders' equity	114,352	114,939
Common Class A [Member]
Stockholders' equity
Class A Common Stock, $.01 par value-authorized 10,000,000 shares; issued and outstanding 3,388,624 and 3,346,689 shares, respectively	$ 34	$ 34

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Allowance for doubtful accounts	$ 577	$ 226
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, issued (in shares)	3,388,624	3,346,689
Common stock, outstanding (in shares)	3,388,624	3,346,689

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues	$ 66,068	$ 68,526	$ 68,944
Operating expenses
Cost of services	30,592	31,395	31,875
Selling, general and administrative expenses	10,451	10,147	10,234
Depreciation and amortization	7,232	7,377	8,022
Total operating expenses	48,275	48,919	50,131
Income from operations	17,793	19,607	18,813
Other income (expense)
Interest expense	(5,844)	(13,249)	(10,634)
Loss on debt prepayment penalty		(2,303)
Other income	263	204	625
Total other expense	(5,581)	(15,348)	(10,009)
Income before income tax (expense) benefit	12,212	4,259	8,804
Income tax (expense) benefit	(2,745)	7,856	(3,658)
Net income	$ 9,467	$ 12,115	$ 5,146
Weighted average number of common shares outstanding:
Basic (in shares)	3,388,624	3,346,689	3,283,177
Diluted (in shares)	3,434,862	3,445,632	3,404,696
Basic net income per common share (in dollars per share)	$ 2.79	$ 3.62	$ 1.57
Diluted net income per common share (in dollars per share)	$ 2.76	$ 3.52	$ 1.51

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2015	3,015,099	232,780
Balance at Dec. 31, 2015	$ 30	$ 2	$ 3,881	$ (20,073)	$ (16,160)
Net income				5,146	5,146
Stock-based compensation expense			415		415
Tax withholdings paid on behalf of employees for restricted stock units			(109)		(109)
Issuance of Common Stock (in shares)	43,871
Issuance of Common Stock	$ 1		(1)
Conversion of Class B Stock to Class A Stock (in shares)	232,780
Conversion of Class B Stock to Class A Stock	$ 2
Conversion of Class B Stock to Class A Stock (in shares)		(232,780)
Conversion of Class B Stock to Class A Stock		$ (2)
Balance (in shares) at Dec. 31, 2016	3,291,750
Balance at Dec. 31, 2016	$ 33		4,186	(14,927)	(10,708)
Net income				12,115	12,115
Stock-based compensation expense			308		308
Tax withholdings paid on behalf of employees for restricted stock units			(209)		(209)
Issuance of Common Stock (in shares)	54,939
Issuance of Common Stock	$ 1				1
Balance (in shares) at Dec. 31, 2017	3,346,689
Balance at Dec. 31, 2017	$ 34		4,285	(2,812)	1,507
Net income				9,467	9,467
Stock-based compensation expense			308		308
Tax withholdings paid on behalf of employees for restricted stock units			(380)		(380)
Issuance of Common Stock (in shares)	41,935
Balance (in shares) at Dec. 31, 2018	3,388,624
Balance at Dec. 31, 2018	$ 34		$ 4,213	$ 6,655	$ 10,902

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income	$ 9,467	$ 12,115	$ 5,146
Adjustments to reconcile net income to cash flows provided by operating activities:
Depreciation	6,906	7,001	7,137
Amortization	326	376	885
Amortization of loan costs	476	4,823	1,397
Loss on debt prepayment penalty		2,303
Provision (benefit) for deferred income taxes	1,062	(9,393)	2,142
Excess tax benefit from stock-based compensation	144	52	32
Provision for uncollectible accounts receivable	553	357	348
Stock-based compensation	308	308	415
Payment in kind interest - subordinated debt		266	273
Changes in operating assets and liabilities
Accounts receivable	(113)	(316)	(4)
Materials and supplies	(102)	(516)	(278)
Prepaid expenses and other assets	1,982	(189)	(100)
Accounts payable and accrued expenses	(37)	215	(178)
Advance billings and payments	(203)	577	1,428
Other liabilities	(9)	(17)	(6)
Net cash from operating activities	20,760	17,962	18,637
Cash flows used in investing activities:
Acquisition and construction of property and equipment	(7,983)	(8,510)	(6,879)
Retirement of investment	(11)	(1)	(1)
Net cash used in investing activities	(7,994)	(8,511)	(6,880)
Cash flows used in financing activities:
Loan origination costs	(64)	(2,144)	(5,242)
Principal repayment of long-term notes payable	(11,350)	(98,927)	(103,052)
Proceeds from loan refinancing		87,000	100,300
Debt prepayment penalty fees		(2,303)
Interest rate cap	(4)
CoBank equity account retirement	119	164
Tax withholdings paid on behalf of employees for restricted stock units	(380)	(209)	(109)
Net cash used in financing activities	(11,679)	(16,419)	(8,103)
Net increase (decrease) in cash and cash equivalents	1,087	(6,968)	3,654
Cash and cash equivalents, beginning of period	3,570	10,538	6,884
Cash and cash equivalents, end of period	4,657	3,570	10,538
Supplemental disclosures of cash flow information:
Interest paid	5,383	9,287	8,364
Income taxes (refunded) paid	(502)	1,802	1,923
Conversion of Class B common stock to Class A common stock			2
Issuance of Class A common stock		$ 1	$ 1

Note 1 - Nature of Business

Note 1 - Nature of Business	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Nature of Operations [Text Block]	1. Nature of Business Otelco Inc. (together with its consolidated subsidiaries, the “Company”) provides a broad range of telecommunication services on a retail and wholesale basis. These services include local and long distance calling; network access to and from the Company’s customers; data transport; digital high-speed internet access; cable and Internet Protocol television; other telephone related services; and cloud hosting and managed services. The principal markets for these services are business and residential customers residing in and adjacent to the exchanges the Company serves in Alabama, Maine, Massachusetts, Missouri, Vermont, and West Virginia and business customers throughout Maine and New Hampshire. The Company offers various communications services that are sold to economically similar customers in a comparable manner of distribution. The Company also offers cloud hosting and managed services for small and mid-sized companies who rely on mission-critical software applications. The majority of customers buy multiple services, often bundled together at a single price. The Company views, manages and evaluates the results of its operations from the various communications services as one one Refinancings On January 25, 2016, five $85.0 five $5.0 five $15.0 February 17, 2016, $15.3 $85.0 $15.3 April 30, 2016. $1.0 April 1, 2016. not $15 $140 second 2017, $77.9 $8.5 $7.5 2017 2018, On November 2, 2017, $92 five $87.0 $5.0 $20.0 $28 $3.7

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	2. Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The consolidated financial statements include the accounts of Otelco Inc. and its subsidiaries, all of which are either directly or indirectly wholly owned. These include: Blountsville Telephone LLC (“BTC”); Brindlee Mountain Telephone LLC; CRC Communications LLC; Granby Telephone LLC; Hopper Telecommunications LLC; Mid-Maine Telecom LLC; Mid-Maine TelPlus LLC; Otelco Mid-Missouri LLC (“MMT”) and its wholly-owned subsidiary I-Land Internet Services LLC; Otelco Telecommunications LLC; Otelco Telephone LLC (“OTP”); Pine Tree Telephone LLC; Saco River Telephone LLC; Shoreham Telephone LLC; and War Telephone LLC. The accompanying consolidated financial statements include the accounts of Otelco Inc. and all of the aforesaid subsidiaries after elimination of all material intercompany balances and transactions. Use of Estimates The Company prepares its consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may Significant accounting estimates include the recoverability of goodwill, identified intangibles, long-term assets, deferred tax valuation allowances and allowance for bad debt. Regulatory Accounting The Company follows the accounting for regulated enterprises, which is now part of Accounting Standards Codification (“ASC”) 980, Regulated Operations 980” 980 980 980 1 2 980 December 31, 2018, 2017, 81.4% 80.5%, 980. The Company is subject to reviews and audits by regulatory agencies. The effect of these reviews and audits, if any, will be recorded in the period in which they first Intangible Assets and Goodwill Intangible assets consist primarily of the fair values of customer related intangibles, non-compete agreements and long-term customer contracts acquired in connection with business combinations. Goodwill represents the excess of total acquisition cost over the assigned value of net identifiable tangible and intangible assets acquired through various business combinations, less any impairment. Due to the regulatory accounting required by ASC 980, not 805, Business Combinations 2004. 47 32.2000, The Company performs a quarterly review of its identified intangible assets to determine if facts and circumstances exist which indicate that the useful life is shorter than originally estimated or that the carrying amount of assets may not ASC 350, Intangibles Goodwill and Other 350” 1 Revenue Recognition Local services not Network access no not Revenue for intrastate access service is received through tariffed access charges billed by the Company to the originating intrastate carrier using access rates filed with the Alabama Public Service Commission (the “APSC”), the Maine Public Utilities Commission (the “MPUC”), the Massachusetts Department of Telecommunications and Cable (the “MDTC”), the Missouri Public Service Commission (the “MPSC”), the New Hampshire Public Utilities Commission (the “NHPUC”), the Vermont Public Utilities Commission (the “VPUC”) and the West Virginia Public Service Commission (the “WVPSC”) and are retained by the Company. Revenue for the intrastate/interLATA access service is received through tariffed access charges as filed with the APSC, MDTC, MPSC, MPUC, NHPUC, VPUC and WVPSC. These access charges are billed to the intrastate carriers and are retained by the Company. Revenue for terminating and originating long distance service is received through charges for providing usage of the local exchange network. Toll revenues are recognized when services are rendered. The FCC’s Intercarrier Compensation order, issued in October 2011, July 2013. 2014, six Revenues for interstate access services are based on reimbursement of costs and an allowed rate of return. Revenues of this nature are received from USAC. The FCC’s Rate-of-Return Universal Service Fund Reform order, issued in March 2016, 25 2016 25 2021. October 2011, 95.0% 22.6%, 21.9%, 18.6% December 31, 2018, 2017, 2016, Internet, tran sport service, cable and satellite television and cloud hosting and managed services December 31, 2018, 2017, $2.3 $2.4 Cash and Cash Equivalents Cash equivalents are stated at cost plus accrued interest, which approximates fair value. Cash equivalents are high-quality, short-term money market instruments and highly liquid debt instruments with an original maturity of three Accounts Receivable The Company extends credit to its business and residential customers based upon a written credit policy. Service interruption is the primary vehicle for controlling losses. Accounts receivable are recorded at the invoiced amount and do not Materials and Supplies Materials and supplies are stated at the lower of cost or market value. Cost is determined using an average cost basis. Property and Equipment Regulated property and equipment is stated at original cost less any impairment. Unregulated property and equipment purchased through acquisitions is stated at its fair value at the date of acquisition less any impairment. Expenditures for improvements that significantly add to productive capacity or extend the useful life of an asset are capitalized. Expenditures for maintenance and repairs are expensed when incurred. Depreciation of regulated property and equipment is computed principally using the straight-line method over useful lives determined by the APSC for Alabama locations, while the other regulated locations use similar useful lives as Alabama. Depreciation of unregulated property and equipment primarily employs the straight-line method over industry standard estimated useful lives. Long-Lived Assets The Company reviews its long-lived assets for impairment at each balance sheet date and whenever events or changes in circumstances indicate that the carrying amount of an asset should be assessed. To determine if impairment exists, the Company estimates the future undiscounted cash flows expected to result from the use of the asset being reviewed for impairment. If the sum of these expected future cash flows is less than the carrying amount of the asset, the Company recognizes an impairment loss in accordance with guidance included in ASC 360, Property, Plant, and Equipment Deferred Financing Costs Deferred financing and loan costs consist of debt issuance costs incurred in obtaining long-term financing, which are amortized using the effective interest method. Amortization of deferred financing and loan costs is classified as “Interest expense”. Deferred financing and loan costs are presented in the balance sheet as a direct deduction from the related debt liability. When amendments to debt agreements are considered to extinguish existing debt per guidance included in ASC 470, Debt Income Taxes The Company accounts for income taxes using the asset and liability approach in accordance with guidance included in ASC 740, Income Taxes 740” not not The provision for income taxes consists of an amount for the taxes currently payable and a provision for the tax consequences deferred to future periods. Interest and penalties related to income tax matters would be recognized in income tax expense. As of December 31, 2018, no The Company conducts business in multiple jurisdictions and, as a result, one 2015 Fair Value of Financial Instruments The carrying values of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, prepaids, accounts payable and accrued liabilities, approximate their fair values as of December 31, 2018, 2017, December 31, 2018, 2017, Income per Common Share The Company computes net income per common share in accordance with the provisions included in ASC 260, Earnings per Share 260” 260, Recently Adopted Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09” 2014 09 December 15, 2016, not July 2015, 2015 14, Revenue from Contracts with Customers (Topic 606 one 2014 09, first 2018 first 2017. In March 2016, 2016 08, Revenue from Contracts with Customers (Topic 606 2014 09, April 2016, 2016 10, Revenue from Contracts with Customers (Topic 606 2014 09, May 2016, 2016 12, Revenue from Contracts with Customers (Topic 606 2014 09, December 2016, 2016 20, Technical Corrections and Improvements to Topic 606, 2014 09, In January 2017, 2017 03, Accounting Changes and Error Corrections (Topic 250 323 2017 03” 2014 09 2014 09 2014 09 June 2016. 2014 09’s 2014 09, 2014 09 five 2014 09. The Company adopted ASU 2014 09 2018 not January 1, 2018. not 2014 09 not In January 2016, 2016 01, Financial Instruments - Overall (Subtopic 825 10 2016 01” 2016 01 December 15, 2017, February 2018, 2018 03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825 10 six 2016 01, second 2018 first 2018, 2016 01 March 31, 2018, not In August 2016, 2016 15 , Statement of Cash Flows (Topic 230 230, December 15, 2017, not In May 2017, 2017 09, Compensation-Stock Compensation (Topic 718 2017 09” 2017 09 718, Stock Compensation 2017 09 December 15, 2017, not 2017 09 not In May 2017, 2017 10, Service Concession Arrangements (Topic 853 2017 10” not 840, Leases 2017 10 not December 15, 2017, not In March 2018, 2018 05, Income Taxes (Topic 740 740, No. 118, 118” 118 may not may one December 31, 2017, $9.3 one 31, 2017, not 118. 31, 2018, not 2017 Recent Accounting Pronouncements During 2017, 2017 01 2017 15 2018, 2018 01 2018 20. In February 2016, 2016 02, Leases (Topic 842 2016 02” . December 15, 2018, January 2017, 2017 03, 2016 02 2016 02 January 2018, 2018 01, Leases (Topic 842 842 not 2016 02 not 840, Leases 2016 02 2016 02. July 2018, 2018 10, Codification Improvements to Topic 842, 2016 02. July 2018, 2018 11, Leases (Topic 842 not December 2018, 2018 20, Narrow-Scope Improvements for Lessors. 2016 02, not not not 2016 02. not two 2018 11; not January 1, 2019, $1,073,919 no 2016 02, In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 2017 04” 2 2017 04 December 15, 2019, January 1, 2017. not In June 2018, 2018 07, Compensation – Stock Compensation (Topic 718 2017 09, December 15, 2018, no 2014 09. not In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13” . 2018 13, 2018 13 December 15, 2019, not In November 2018, 2018 19, Codification Improvements to Topic 326, – Credit Losses 2018 19” . 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13” June 2016, first 2016 13, 2018 19. 2016 13 December 15, 2019, December 15, 2018, not

Note 3 - Goodwill and Intangibl

Note 3 - Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	3. Goodwill and Intangible Assets ASC 350 one three December 31, 2018, 87.2%, 12.8% 1.0%, October 1, 2018. 50.0% 50.0% no October 1, 2018, 2017. no October 1, 2018, December 31, 2018, In 2017, three 2018, fourth 2018 2019. There was no 2018 2017, $39,199 $5,758 $19 December 31, 2018, 2017. The Company also found no December 31, 2018, 2017, Intangible assets are summarized as follows (in thousands): December 31, 2017 Carrying Value Accumulated Amortization Net Book Value Customer relationships $ 24,025 $ (22,705 ) $ 1,320 Contract relationships 19,600 (19,600 ) - Non-competition 107 (105 ) 2 Trade name 23 (17 ) 6 Total $ 43,755 $ (42,427 ) $ 1,328 December 31, 2018 Carrying Value Accumulated Amortization Net Book Value Customer relationships $ 24,025 $ (23,110 ) $ 915 Contract relationships 19,600 (19,600 ) - Non-competition 107 (107 ) - Trade name 23 (19 ) 4 Total $ 43,755 $ (42,836 ) $ 919 These intangible assets had a range of 2 15 December 31, 2018, Aggregate amortization expense for the years ended December 31, 2016 $ 578 2017 $ 458 2018 $ 408 Expected amortization expense for the years ending December 31, 2019 $ 389 2020 372 2021 158 2022 - Total $ 919

Note 4 - Property and Equipment

Note 4 - Property and Equipment	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. Property and Equipment A summary of property and equipment is shown as follows (in thousands, except estimated life): Estimated December 31, Life 2018 201 7 Land $ 1,164 $ 1,164 Building and improvements 20 - 40 13,196 12,999 Telephone equipment 6 - 20 243,346 239,539 Cable television equipment 7 12,682 12,417 Furniture and equipment 8 - 14 3,066 3,087 Vehicles 7 - 9 6,906 6,992 Computer software equipment 5 - 7 19,764 16,830 Internet equipment 5 3,933 3,940 Total property and equipment 304,057 296,968 Accumulated depreciation and amortization (251,984 ) (246,080 ) Net property and equipment $ 52,073 $ 50,888 Depreciation expense for the years ended December 31, 2018, 2017 2016, $6,906 $7,001 $7,137 82 82 $307 December 31, 2018, 2017 2016,

Note 5 - Other Accounts Receiva

Note 5 - Other Accounts Receivable	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Financing Receivables [Text Block]	5. Other Accounts Receivable Other accounts receivable consist of the following (in thousands) as of: December 31, 201 8 201 7 Carrier access bills receivable $ 277 $ 282 National Exchange Carrier Association receivable 1,295 1,238 Receivables from Alabama Service Fund 53 53 Other miscellaneous 274 302 $ 1,899 $ 1,875

Note 6 - Investments

Note 6 - Investments	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Investment [Text Block]	6. Investments Investments consist of the following (in thousands) as of: December 31, 201 8 201 7 Investment in CoBank stock $ 1,192 $ 1,311 Rental property 219 245 Other miscellaneous 87 76 $ 1,498 $ 1,632 The investment in CoBank stock is carried at historical cost due to no no two $4 December 31, 2018.

Note 7 - Notes Payable

Note 7 - Notes Payable	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Notes Payable Notes payable consists of the following (in thousands, except percentages) as of: December 31, Current Long-term 2018 2017 New Credit Facility with CoBank, ACB; variable interest rate of 6.77% at December 31, 2018, interest is quarterly, paid in arrears on the last business day of each quarter. The New Credit Facility is secured by the total assets of the subsidiary guarantors. The unpaid balance is due November 3, 2022. $ 4,350 $ 70,212 $ 74,562 $ 85,912 Debt issuance cost (446 ) (1,105 ) (1,551 ) (1,963 ) Notes payable, net of debt issuance cost $ 3,904 $ 69,107 $ 73,011 $ 83,949 The Previous Credit Facility was fully repaid on February 17, 2016. $2.7 third $141 December 31, 2016, $140 $15 December 31, 2016, The Senior Loan Agreement was fully repaid on November 2, 2017. $4.9 $896 December 31, 2017, $3,070 $14 December 31, 2017, The Subordinated Loan Agreement was fully repaid on November 2, 2017. $892 $133 December 31, 2017, $621 $14 December 31, 2017, Associated with the New Credit Facility, the Company has $2.1 $476 $75 December 31, 2018, 2017, The Company had a revolving credit facility on December 31, 2016, $5.0 no December 31, 2016. November 2, 2017. 0.75% $32 $33 December 31, 2017, 2016, The revolving credit facility associated with the Company’s New Credit Facility had a maximum borrowing capacity of $5.0 December 31, 2018. November 3, 2022. no December 31, 2018. 0.50% 0.38% October 22, 2018. $24 $4 December 31, 2018, 2017, Maturities of notes payable for the next five no 2019 $ 4,350 2020 4,350 2021 4,350 2022 61,512 2023 - Total $ 74,562 A total of $2.1 The Company’s notes payable agreements are subject to certain financial covenants and restrictions on indebtedness, financial guarantees, business combinations and other related items. As of December 31, 2018,

Note 8 - Income Tax

Note 8 - Income Tax	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8. Income Tax Income tax expense for the years ended December 31, 2018, 2017, 2016 For the Years Ended December 31, 201 8 201 7 201 6 Federal income taxes Current $ 1,036 $ 1,201 $ 1,176 Deferred 898 (9,332 ) 1,872 Total federal tax expense (benefit) 1,934 (8,131 ) 3,048 State income taxes Current 503 284 308 Deferred 308 (9 ) 302 Total state tax expense 811 275 610 Total income tax expense (benefit) $ 2,745 $ (7,856 ) $ 3,658 Public Law No: 115 97, December 22, 2017. 35% 21%. 740 21%. 118, December 31, 2017, $9.3 one 31, 2017, not 118. 31, 2018, not 2017 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities as of December 31, 2018, 2017, December 31, 201 8 20 1 7 Deferred tax liabilities: Amortization $ (10,947 ) $ (11,058 ) Depreciation (9,701 ) (8,408 ) Prepaid expense (357 ) (151 ) State net operating loss carryforwards and adjustments (277 ) (266 ) Other (8 ) (8 ) Total deferred tax liabilities $ (21,290 ) $ (19,891 ) Deferred tax assets: Deferred compensation $ 142 $ 131 Advance payments 612 520 Bad debt 145 71 Other 246 230 Total deferred tax assets $ 1,145 $ 952 As of December 31, 2018, $0 $43 December 31, 2017, $0 $33 no December 31, 2018, December 31, 2017. December 31, 2018, no The effective income tax rates as of December 31, 2018, 2017, 2016, 22.5%, 184.5 41.5%, ASC 740 December 31, 2018, 2017, 2016, not 2015 Total income tax expense was different than that computed by applying U.S. federal income tax rates to income before income taxes for the years ended December 31, 2018, 2017, 2016. For the Years Ended December 31, 20 1 8 201 7 201 6 Federal income tax at statutory rate 21 % 35 % 35 % Federal income tax provision at statutory rate $ 2,565 $ 1,491 $ 3,081 State income tax provision, net of federal income tax effects 641 177 397 Federal tax rate change - (9,336 ) - Adjustments for prior years (293 ) Other (168 ) (188 ) 180 Provision (benefit) for income taxes $ 2,745 $ (7,856 ) $ 3,658 Effective income tax rate 22.5 % (184.5 %) 41.5 %

Note 9 - Employee Benefit Progr

Note 9 - Employee Benefit Program	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	9. Employee Benefit Program Employees of all subsidiaries except BTC participate in a Company-sponsored defined contribution savings plan under Section 401 not $18.5 $18.5 $18 2018, 2017 2016, 4.5% 2018, 2017 2016. December 31, 2018, 2017, 2016, $470 $486 $508 The employees of BTC participate in a multiemployer Retirement and Security Program (“RSP”) as a defined benefit plan and a Savings Plan (“SP”) provided through the National Telecommunications Cooperative Association (“NTCA”). The risks associated with participating in a multiemployer plan are different from a single-employer plan. Contributions to the multiemployer plan by the Company may may 1959. 0.3% 0.1% December 2017, 98%. June 30, 2018 $2.4 500 1.0% 2018, 2017 2016, 4.5% 401 no 2018, 2017 2016. December 31, 2018, 2017, 2016, $21 $16 $16

Note 10 - Net Income Per Common

Note 10 - Net Income Per Common Share	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	10. Net Income per Common Share Basic net income per common share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per common share reflects the potential dilution that would occur should all of the shares of Class A common stock underlying restricted stock units (“RSUs”) be issued. A reconciliation of the common shares for purposes of the calculation of the Company’s basic and diluted net income per common share is as follows (weighted average number of common shares outstanding in whole numbers and net income in thousands): For the Years Ended December 31, 2018 2017 2016 Weighted average number of common shares outstanding - basic 3,388,624 3,346,689 3,283,177 Effect of dilutive securities 46,238 98,943 121,519 Weighted average number of common shares and potential common shares - diluted 3,434,862 3,445,632 3,404,696 Net income $ 9,467 $ 12,115 $ 5,146 Net income per common share - basic $ 2.79 $ 3.62 $ 1.57 Net income per common share - diluted $ 2.76 $ 3.52 $ 1.51

Note 11 - Revenue Streams and C

Note 11 - Revenue Streams and Concentrations	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	11. Revenue Streams and Concentrations Revenue Streams The Company identifies its revenue streams with similar characteristics as follows (in thousands): Year Ended December 31, 2018 Local services $ 21,507 Network access 21,100 Internet 15,224 Transport services 4,774 Video and security 2,824 Managed services 639 Total revenues $ 66,068 ASU 2014 09 2, Summary of Significant Accounting Policies – Recently Adopted Accounting Pronouncements five 2014 09. The following table identifies revenue generated from customers (in thousands): Year Ended December 31, 2018 Local services $ 21,507 Network access 4,645 Internet 15,224 Transport services 4,623 Video and security 2,824 Managed services 639 Total revenue generated from customers $ 49,462 The following table summarizes the revenue generated from contracts with customers among each revenue stream as of December 31, 2018 ( Year Ended December 31, 2018 % In-Scope % Total Month to month (“MTM”) customers $ 30,117 61.7 % 45.6 % Competitive local exchange carrier (“CLEC”) business customers 14,061 28.7 21.3 Network access 2,713 5.6 4.1 Total revenue streams 46,891 96.0 71.0 Global access* 1,932 4.0 2.9 Total revenue from contracts with customers 48,823 100.0 % 73.9 Managed services** 639 n/a 1.0 Total revenue generated from customers 49,462 n/a 74.9 Indefeasible rights-of-use agreements** 151 n/a 0.2 Network access** 16,455 n/a 24.9 Total revenues $ 66,068 100.0 % *Fixed fees charged to MTM customers and CLEC business customers. ** Revenue generated from sources not 2014 09. 2, Summary of Significant Accounting Policies – Revenue Recognition Payment terms vary by customer. The Company typically invoices customers in the month following when the service is provided. The term between invoicing and when payment is due is less than a year and is not Revenue is recognized net of taxes collected on behalf of third As of December 31, 2018, $9.0 December 31, 2018, $0.9 $8.0 2 5 not one The deferred revenue balance as of January 1, 2018, $4.1 $1.5 three March 31, 2018, March 31, 2018, The deferred revenue balance as of June 30, 2018, $3.9 $1.4 three September 30, 2018, September 30, 2018, The deferred revenue balance as of September 30, 2018, $3.8 $1.4 three December 31, 2018, December 31, 2018,

Note 12 - Fair Value Measuremen

Note 12 - Fair Value Measurement	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	12. Fair Value Measurement The Company adopted ASC 820, Fair Value Measurements and Disclosures 820” ASC 820 820 three ● Level 1 ● Level 2 1, ● Level 3 may not Fair Value Notes Payable The fair value of the Company’s notes payable is determined using various methods, including quoted market prices for notes with similar terms of maturity, which is a Level 2 3 820 not New Credit Facility Carrying Value Fair Value Notes payable December 31, 2017 $ 85,912 $ 86,542 Notes payable December 31, 2018 $ 74,562 $ 74,702

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	13. Commitments and Contingencies From time to time, the Company may may none Leases Minimum future rental commitments under non-cancellable operating leases, primarily for real property and office facilities, at December 31, 2018, 2019 $ 451 2020 431 2021 432 2022 331 2023 272 Thereafter 1,109 Total $ 3,026 Rent expense for the years ended December 31, 2018, 2017 2016, $542 $539 $562

Note 14 - Stock Plans

Note 14 - Stock Plans	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Shareholders' Equity and Share-based Payments [Text Block]	14. Stock Plans During the twelve December 31, 2018, 34,755 366,356 one three 366,356 twelve December 31, 2018, 267,413 December 31, 2017. no The following table summarizes RSU activity as of December 31, 2018: RSUs Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 98,943 $ 4.51 Granted 34,755 $ 13.30 Vested (67,386 ) $ 4.56 Forfeited or cancelled - $ - Outstanding at December 31, 2018 66,312 $ 9.06 Stock-based compensation expense related to RSUs was $290 $308 December 31, 2018, 2017, no 2014 As of December 31, 2018, 2017, $216 $343 2021. The tax benefit recognized with respect to RSUs during the years ended December 31, 2018, 2017, $144 $52 On October 15, 2018, 29,460 20,540 five 20% October 15, 2019, one no The following table summarizes ISO and NQ stock option activity as of December 31, 2018: ISO s and NQ S tock O ptions Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 - $ - Granted 50,000 $ 16.97 Vested - $ - Forfeited or cancelled - $ - Outstanding at December 31, 2018 50,000 $ 16.97 Stock-based compensation expense related to ISOs and NQ stock options was $18 December 31, 2018. As of December 31, 2018, $416 2023.

Note 15 - Selected Quarterly Fi

Note 15 - Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Quarterly Financial Information [Text Block]	15. Selected Quarterly Financial Data (unaudited and in thousands, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal 2017: Revenue $ 17,380 $ 17,406 $ 16,946 $ 16,794 Operating income $ 5,021 $ 5,053 $ 4,989 $ 4,544 Net income $ 1,608 $ 1,536 $ 1,589 $ 7,382 Net income per common share - basic $ 0.48 $ 0.46 $ 0.67 $ 2.21 Net income per common share - diluted $ 0.47 $ 0.45 $ 0.65 $ 2.14 Fiscal 2018: Revenue $ 16,726 $ 16,890 $ 16,252 $ 16,200 Operating income $ 4,061 $ 5,172 $ 4,536 $ 4,024 Net income $ 1,996 $ 2,908 $ 2,326 $ 2,237 Net income per common share - basic $ 0.59 $ 0.86 $ 0.69 $ 0.66 Net income per common share - diluted $ 0.58 $ 0.85 $ 0.67 $ 0.65

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block]	Refinancings On January 25, 2016, five $85.0 five $5.0 five $15.0 February 17, 2016, $15.3 $85.0 $15.3 April 30, 2016. $1.0 April 1, 2016. not $15 $140 second 2017, $77.9 $8.5 $7.5 2017 2018, On November 2, 2017, $92 five $87.0 $5.0 $20.0 $28 $3.7
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation and Principles of Consolidation The consolidated financial statements include the accounts of Otelco Inc. and its subsidiaries, all of which are either directly or indirectly wholly owned. These include: Blountsville Telephone LLC (“BTC”); Brindlee Mountain Telephone LLC; CRC Communications LLC; Granby Telephone LLC; Hopper Telecommunications LLC; Mid-Maine Telecom LLC; Mid-Maine TelPlus LLC; Otelco Mid-Missouri LLC (“MMT”) and its wholly-owned subsidiary I-Land Internet Services LLC; Otelco Telecommunications LLC; Otelco Telephone LLC (“OTP”); Pine Tree Telephone LLC; Saco River Telephone LLC; Shoreham Telephone LLC; and War Telephone LLC. The accompanying consolidated financial statements include the accounts of Otelco Inc. and all of the aforesaid subsidiaries after elimination of all material intercompany balances and transactions.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The Company prepares its consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, which require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying consolidated financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may Significant accounting estimates include the recoverability of goodwill, identified intangibles, long-term assets, deferred tax valuation allowances and allowance for bad debt.
Intercompany Profit to Regulated Affiliates, Policy [Policy Text Block]	Regulatory Accounting The Company follows the accounting for regulated enterprises, which is now part of Accounting Standards Codification (“ASC”) 980, Regulated Operations 980” 980 980 980 1 2 980 December 31, 2018, 2017, 81.4% 80.5%, 980. The Company is subject to reviews and audits by regulatory agencies. The effect of these reviews and audits, if any, will be recorded in the period in which they first
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible Assets and Goodwill Intangible assets consist primarily of the fair values of customer related intangibles, non-compete agreements and long-term customer contracts acquired in connection with business combinations. Goodwill represents the excess of total acquisition cost over the assigned value of net identifiable tangible and intangible assets acquired through various business combinations, less any impairment. Due to the regulatory accounting required by ASC 980, not 805, Business Combinations 2004. 47 32.2000, The Company performs a quarterly review of its identified intangible assets to determine if facts and circumstances exist which indicate that the useful life is shorter than originally estimated or that the carrying amount of assets may not ASC 350, Intangibles Goodwill and Other 350” 1
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Local services not Network access no not Revenue for intrastate access service is received through tariffed access charges billed by the Company to the originating intrastate carrier using access rates filed with the Alabama Public Service Commission (the “APSC”), the Maine Public Utilities Commission (the “MPUC”), the Massachusetts Department of Telecommunications and Cable (the “MDTC”), the Missouri Public Service Commission (the “MPSC”), the New Hampshire Public Utilities Commission (the “NHPUC”), the Vermont Public Utilities Commission (the “VPUC”) and the West Virginia Public Service Commission (the “WVPSC”) and are retained by the Company. Revenue for the intrastate/interLATA access service is received through tariffed access charges as filed with the APSC, MDTC, MPSC, MPUC, NHPUC, VPUC and WVPSC. These access charges are billed to the intrastate carriers and are retained by the Company. Revenue for terminating and originating long distance service is received through charges for providing usage of the local exchange network. Toll revenues are recognized when services are rendered. The FCC’s Intercarrier Compensation order, issued in October 2011, July 2013. 2014, six Revenues for interstate access services are based on reimbursement of costs and an allowed rate of return. Revenues of this nature are received from USAC. The FCC’s Rate-of-Return Universal Service Fund Reform order, issued in March 2016, 25 2016 25 2021. October 2011, 95.0% 22.6%, 21.9%, 18.6% December 31, 2018, 2017, 2016, Internet, tran sport service, cable and satellite television and cloud hosting and managed services December 31, 2018, 2017, $2.3 $2.4
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash equivalents are stated at cost plus accrued interest, which approximates fair value. Cash equivalents are high-quality, short-term money market instruments and highly liquid debt instruments with an original maturity of three
Receivables, Policy [Policy Text Block]	Accounts Receivable The Company extends credit to its business and residential customers based upon a written credit policy. Service interruption is the primary vehicle for controlling losses. Accounts receivable are recorded at the invoiced amount and do not
Inventory, Policy [Policy Text Block]	Materials and Supplies Materials and supplies are stated at the lower of cost or market value. Cost is determined using an average cost basis.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Regulated property and equipment is stated at original cost less any impairment. Unregulated property and equipment purchased through acquisitions is stated at its fair value at the date of acquisition less any impairment. Expenditures for improvements that significantly add to productive capacity or extend the useful life of an asset are capitalized. Expenditures for maintenance and repairs are expensed when incurred. Depreciation of regulated property and equipment is computed principally using the straight-line method over useful lives determined by the APSC for Alabama locations, while the other regulated locations use similar useful lives as Alabama. Depreciation of unregulated property and equipment primarily employs the straight-line method over industry standard estimated useful lives.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Long-Lived Assets The Company reviews its long-lived assets for impairment at each balance sheet date and whenever events or changes in circumstances indicate that the carrying amount of an asset should be assessed. To determine if impairment exists, the Company estimates the future undiscounted cash flows expected to result from the use of the asset being reviewed for impairment. If the sum of these expected future cash flows is less than the carrying amount of the asset, the Company recognizes an impairment loss in accordance with guidance included in ASC 360, Property, Plant, and Equipment
Deferred Charges, Policy [Policy Text Block]	Deferred Financing Costs Deferred financing and loan costs consist of debt issuance costs incurred in obtaining long-term financing, which are amortized using the effective interest method. Amortization of deferred financing and loan costs is classified as “Interest expense”. Deferred financing and loan costs are presented in the balance sheet as a direct deduction from the related debt liability. When amendments to debt agreements are considered to extinguish existing debt per guidance included in ASC 470, Debt
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes using the asset and liability approach in accordance with guidance included in ASC 740, Income Taxes 740” not not The provision for income taxes consists of an amount for the taxes currently payable and a provision for the tax consequences deferred to future periods. Interest and penalties related to income tax matters would be recognized in income tax expense. As of December 31, 2018, no The Company conducts business in multiple jurisdictions and, as a result, one 2015
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments The carrying values of the Company’s financial instruments, including cash and cash equivalents, accounts receivable, prepaids, accounts payable and accrued liabilities, approximate their fair values as of December 31, 2018, 2017, December 31, 2018, 2017,
Earnings Per Share, Policy [Policy Text Block]	Income per Common Share The Company computes net income per common share in accordance with the provisions included in ASC 260, Earnings per Share 260” 260,
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606 2014 09” 2014 09 December 15, 2016, not July 2015, 2015 14, Revenue from Contracts with Customers (Topic 606 one 2014 09, first 2018 first 2017. In March 2016, 2016 08, Revenue from Contracts with Customers (Topic 606 2014 09, April 2016, 2016 10, Revenue from Contracts with Customers (Topic 606 2014 09, May 2016, 2016 12, Revenue from Contracts with Customers (Topic 606 2014 09, December 2016, 2016 20, Technical Corrections and Improvements to Topic 606, 2014 09, In January 2017, 2017 03, Accounting Changes and Error Corrections (Topic 250 323 2017 03” 2014 09 2014 09 2014 09 June 2016. 2014 09’s 2014 09, 2014 09 five 2014 09. The Company adopted ASU 2014 09 2018 not January 1, 2018. not 2014 09 not In January 2016, 2016 01, Financial Instruments - Overall (Subtopic 825 10 2016 01” 2016 01 December 15, 2017, February 2018, 2018 03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825 10 six 2016 01, second 2018 first 2018, 2016 01 March 31, 2018, not In August 2016, 2016 15 , Statement of Cash Flows (Topic 230 230, December 15, 2017, not In May 2017, 2017 09, Compensation-Stock Compensation (Topic 718 2017 09” 2017 09 718, Stock Compensation 2017 09 December 15, 2017, not 2017 09 not In May 2017, 2017 10, Service Concession Arrangements (Topic 853 2017 10” not 840, Leases 2017 10 not December 15, 2017, not In March 2018, 2018 05, Income Taxes (Topic 740 740, No. 118, 118” 118 may not may one December 31, 2017, $9.3 one 31, 2017, not 118. 31, 2018, not 2017 Recent Accounting Pronouncements During 2017, 2017 01 2017 15 2018, 2018 01 2018 20. In February 2016, 2016 02, Leases (Topic 842 2016 02” . December 15, 2018, January 2017, 2017 03, 2016 02 2016 02 January 2018, 2018 01, Leases (Topic 842 842 not 2016 02 not 840, Leases 2016 02 2016 02. July 2018, 2018 10, Codification Improvements to Topic 842, 2016 02. July 2018, 2018 11, Leases (Topic 842 not December 2018, 2018 20, Narrow-Scope Improvements for Lessors. 2016 02, not not not 2016 02. not two 2018 11; not January 1, 2019, $1,073,919 no 2016 02, In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 2017 04” 2 2017 04 December 15, 2019, January 1, 2017. not In June 2018, 2018 07, Compensation – Stock Compensation (Topic 718 2017 09, December 15, 2018, no 2014 09. not In August 2018, 2018 13, Fair Value Measurement (Topic 820 2018 13” . 2018 13, 2018 13 December 15, 2019, not In November 2018, 2018 19, Codification Improvements to Topic 326, – Credit Losses 2018 19” . 2016 13, Financial Instruments - Credit Losses (Topic 326 2016 13” June 2016, first 2016 13, 2018 19. 2016 13 December 15, 2019, December 15, 2018, not

Note 3 - Goodwill and Intangi_2

Note 3 - Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	December 31, 2017 Carrying Value Accumulated Amortization Net Book Value Customer relationships $ 24,025 $ (22,705 ) $ 1,320 Contract relationships 19,600 (19,600 ) - Non-competition 107 (105 ) 2 Trade name 23 (17 ) 6 Total $ 43,755 $ (42,427 ) $ 1,328 December 31, 2018 Carrying Value Accumulated Amortization Net Book Value Customer relationships $ 24,025 $ (23,110 ) $ 915 Contract relationships 19,600 (19,600 ) - Non-competition 107 (107 ) - Trade name 23 (19 ) 4 Total $ 43,755 $ (42,836 ) $ 919
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	2016 $ 578 2017 $ 458 2018 $ 408 2019 $ 389 2020 372 2021 158 2022 - Total $ 919

Note 4 - Property and Equipme_2

Note 4 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	Estimated December 31, Life 2018 201 7 Land $ 1,164 $ 1,164 Building and improvements 20 - 40 13,196 12,999 Telephone equipment 6 - 20 243,346 239,539 Cable television equipment 7 12,682 12,417 Furniture and equipment 8 - 14 3,066 3,087 Vehicles 7 - 9 6,906 6,992 Computer software equipment 5 - 7 19,764 16,830 Internet equipment 5 3,933 3,940 Total property and equipment 304,057 296,968 Accumulated depreciation and amortization (251,984 ) (246,080 ) Net property and equipment $ 52,073 $ 50,888

Note 5 - Other Accounts Recei_2

Note 5 - Other Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	December 31, 201 8 201 7 Carrier access bills receivable $ 277 $ 282 National Exchange Carrier Association receivable 1,295 1,238 Receivables from Alabama Service Fund 53 53 Other miscellaneous 274 302 $ 1,899 $ 1,875

Note 6 - Investments (Tables)

Note 6 - Investments (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Investment [Table Text Block]	December 31, 201 8 201 7 Investment in CoBank stock $ 1,192 $ 1,311 Rental property 219 245 Other miscellaneous 87 76 $ 1,498 $ 1,632

Note 7 - Notes Payable (Tables)

Note 7 - Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Maturities of Long-term Debt [Table Text Block]	2019 $ 4,350 2020 4,350 2021 4,350 2022 61,512 2023 - Total $ 74,562
New Credit Facility [Member]
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	December 31, Current Long-term 2018 2017 New Credit Facility with CoBank, ACB; variable interest rate of 6.77% at December 31, 2018, interest is quarterly, paid in arrears on the last business day of each quarter. The New Credit Facility is secured by the total assets of the subsidiary guarantors. The unpaid balance is due November 3, 2022. $ 4,350 $ 70,212 $ 74,562 $ 85,912 Debt issuance cost (446 ) (1,105 ) (1,551 ) (1,963 ) Notes payable, net of debt issuance cost $ 3,904 $ 69,107 $ 73,011 $ 83,949

Note 8 - Income Tax (Tables)

Note 8 - Income Tax (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	For the Years Ended December 31, 201 8 201 7 201 6 Federal income taxes Current $ 1,036 $ 1,201 $ 1,176 Deferred 898 (9,332 ) 1,872 Total federal tax expense (benefit) 1,934 (8,131 ) 3,048 State income taxes Current 503 284 308 Deferred 308 (9 ) 302 Total state tax expense 811 275 610 Total income tax expense (benefit) $ 2,745 $ (7,856 ) $ 3,658
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	December 31, 201 8 20 1 7 Deferred tax liabilities: Amortization $ (10,947 ) $ (11,058 ) Depreciation (9,701 ) (8,408 ) Prepaid expense (357 ) (151 ) State net operating loss carryforwards and adjustments (277 ) (266 ) Other (8 ) (8 ) Total deferred tax liabilities $ (21,290 ) $ (19,891 ) Deferred tax assets: Deferred compensation $ 142 $ 131 Advance payments 612 520 Bad debt 145 71 Other 246 230 Total deferred tax assets $ 1,145 $ 952
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	For the Years Ended December 31, 20 1 8 201 7 201 6 Federal income tax at statutory rate 21 % 35 % 35 % Federal income tax provision at statutory rate $ 2,565 $ 1,491 $ 3,081 State income tax provision, net of federal income tax effects 641 177 397 Federal tax rate change - (9,336 ) - Adjustments for prior years (293 ) Other (168 ) (188 ) 180 Provision (benefit) for income taxes $ 2,745 $ (7,856 ) $ 3,658 Effective income tax rate 22.5 % (184.5 %) 41.5 %

Note 10 - Net Income Per Comm_2

Note 10 - Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Years Ended December 31, 2018 2017 2016 Weighted average number of common shares outstanding - basic 3,388,624 3,346,689 3,283,177 Effect of dilutive securities 46,238 98,943 121,519 Weighted average number of common shares and potential common shares - diluted 3,434,862 3,445,632 3,404,696 Net income $ 9,467 $ 12,115 $ 5,146 Net income per common share - basic $ 2.79 $ 3.62 $ 1.57 Net income per common share - diluted $ 2.76 $ 3.52 $ 1.51

Note 11 - Revenue Streams and_2

Note 11 - Revenue Streams and Concentrations (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Year Ended December 31, 2018 Local services $ 21,507 Network access 21,100 Internet 15,224 Transport services 4,774 Video and security 2,824 Managed services 639 Total revenues $ 66,068 Year Ended December 31, 2018 Local services $ 21,507 Network access 4,645 Internet 15,224 Transport services 4,623 Video and security 2,824 Managed services 639 Total revenue generated from customers $ 49,462 Year Ended December 31, 2018 % In-Scope % Total Month to month (“MTM”) customers $ 30,117 61.7 % 45.6 % Competitive local exchange carrier (“CLEC”) business customers 14,061 28.7 21.3 Network access 2,713 5.6 4.1 Total revenue streams 46,891 96.0 71.0 Global access* 1,932 4.0 2.9 Total revenue from contracts with customers 48,823 100.0 % 73.9 Managed services** 639 n/a 1.0 Total revenue generated from customers 49,462 n/a 74.9 Indefeasible rights-of-use agreements** 151 n/a 0.2 Network access** 16,455 n/a 24.9 Total revenues $ 66,068 100.0 %

Note 12 - Fair Value Measurem_2

Note 12 - Fair Value Measurement (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	New Credit Facility Carrying Value Fair Value Notes payable December 31, 2017 $ 85,912 $ 86,542 Notes payable December 31, 2018 $ 74,562 $ 74,702

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	2019 $ 451 2020 431 2021 432 2022 331 2023 272 Thereafter 1,109 Total $ 3,026

Note 14 - Stock Plans (Tables)

Note 14 - Stock Plans (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]	RSUs Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 98,943 $ 4.51 Granted 34,755 $ 13.30 Vested (67,386 ) $ 4.56 Forfeited or cancelled - $ - Outstanding at December 31, 2018 66,312 $ 9.06
Share-based Compensation, Stock Options, Activity [Table Text Block]	ISO s and NQ S tock O ptions Weighted Average Grant Date Fair Value Outstanding at December 31, 2017 - $ - Granted 50,000 $ 16.97 Vested - $ - Forfeited or cancelled - $ - Outstanding at December 31, 2018 50,000 $ 16.97

Note 15 - Selected Quarterly _2

Note 15 - Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Quarterly Financial Information [Table Text Block]	First Quarter Second Quarter Third Quarter Fourth Quarter Fiscal 2017: Revenue $ 17,380 $ 17,406 $ 16,946 $ 16,794 Operating income $ 5,021 $ 5,053 $ 4,989 $ 4,544 Net income $ 1,608 $ 1,536 $ 1,589 $ 7,382 Net income per common share - basic $ 0.48 $ 0.46 $ 0.67 $ 2.21 Net income per common share - diluted $ 0.47 $ 0.45 $ 0.65 $ 2.14 Fiscal 2018: Revenue $ 16,726 $ 16,890 $ 16,252 $ 16,200 Operating income $ 4,061 $ 5,172 $ 4,536 $ 4,024 Net income $ 1,996 $ 2,908 $ 2,326 $ 2,237 Net income per common share - basic $ 0.59 $ 0.86 $ 0.69 $ 0.66 Net income per common share - diluted $ 0.58 $ 0.85 $ 0.67 $ 0.65

Note 1 - Nature of Business (De

Note 1 - Nature of Business (Details Textual)	Nov. 02, 2017USD ($)	Feb. 17, 2016USD ($)	Jan. 25, 2016USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Number of Reportable Segments					1
Debt Issuance Costs, Net, Total		$ 15,000
Write off of Deferred Debt Issuance Cost		140,000
Long-term Debt, Total					$ 74,562,000
Consortium of Banks Led By CoBank ABC [Member]
Debt Instrument, Term	5 years
Debt Issuance Costs, Net, Total	$ 28,000
Write off of Deferred Debt Issuance Cost	3,700,000
Debt Agreement, Maximum Borrowing Capacity	92,000,000
Revolving Credit Facility [Member]
Debt Instrument, Term			5 years
Line of Credit Facility, Maximum Borrowing Capacity			$ 5,000,000
Revolving Credit Facility [Member] | Consortium of Banks Led By CoBank ABC [Member]
Line of Credit Facility, Maximum Borrowing Capacity	5,000,000
Term Loan Facility [Member] | Consortium of Banks Led By CoBank ABC [Member]
Long-term Debt, Total	87,000,000
Line of Credit, Accordion Feature	$ 20,000,000
Senior Notes [Member]
Debt Instrument, Term			5 years
Debt Instrument, Face Amount			$ 85,000,000
Proceeds from Issuance of Debt		85,000,000
Debt Instrument, Periodic Payment, Total		1,000,000
Write off of Deferred Debt Issuance Cost						$ 3,070,000
Payments of Debt Restructuring Costs				$ 77,900
Capital Expenditure Limit					$ 7,500,000	8,500,000
Subordinated Debt [Member]
Debt Instrument, Term			5 years 182 days
Debt Instrument, Face Amount		15,300,000	$ 15,000,000
Proceeds from Issuance of Debt		$ 15,300,000
Write off of Deferred Debt Issuance Cost						$ 621,000

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2019
Percentage of Net Property, Plant, and Equipment Accounted for Under ASC980	81.40%	80.50%
Revenue Requirement, Cap Interest Rate, Percent of Prior Year	95.00%
Concentration Risk, Percentage	100.00%
Deferred Revenue	$ 2,300,000	$ 2,400,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total	$ 0
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 9,300,000
Accounting Standards Update 2016-02 [Member] | Subsequent Event [Member]
Operating Lease, Right-of-Use Asset				$ 1,073,919
Operating Lease, Liability, Total				$ 1,073,919
Sales Revenue, Services, Net [Member] | Customer Concentration Risk [Member]
Concentration Risk, Percentage	22.60%	21.90%	18.60%

Note 3 - Goodwill and Intangi_3

Note 3 - Goodwill and Intangible Assets (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Number of Reportable Segments	1
Number of Reporting Units	3
Goodwill Impairment, Weighted Percent Used in Discontinued Cash Flow Method	50.00%
Goodwill Impairment, Weighted Percent Used in Guideline Public Company Method	50.00%
Goodwill, Impairment Loss	$ 0	$ 0
Goodwill, Ending Balance	44,976	44,976
Impairment of Intangible Assets (Excluding Goodwill), Total	$ 0	0
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	2 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	15 years
Alabama [Member
Percent of Goodwill	87.20%
Goodwill, Period Increase (Decrease), Total	$ 0	0
Goodwill, Ending Balance	$ 39,199	39,199
Missouri [Member]
Percent of Goodwill	12.80%
Goodwill, Ending Balance	$ 5,758	5,758
New England [Member]
Percent of Goodwill	1.00%
Goodwill, Ending Balance	$ 19	$ 19

Note 3 - Goodwill and Intangi_4

Note 3 - Goodwill and Intangible Assets - Intangible Asset Summaries (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Carrying Value	$ 43,755	$ 43,755
Accumulated Amortization	(42,836)	(42,427)
Net Book Value	919	1,328
Customer Relationships [Member]
Carrying Value	24,025	24,025
Accumulated Amortization	(23,110)	(22,705)
Net Book Value	915	1,320
Customer Contracts [Member]
Carrying Value	19,600	19,600
Accumulated Amortization	(19,600)	(19,600)
Net Book Value
Noncompete Agreements [Member]
Carrying Value	107	107
Accumulated Amortization	(107)	(105)
Net Book Value		2
Trade Names [Member]
Carrying Value	23	23
Accumulated Amortization	(19)	(17)
Net Book Value	$ 4	$ 6

Note 3 - Goodwill and Intangi_5

Note 3 - Goodwill and Intangible Assets - Aggregate Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
2,016	$ 408	$ 458	$ 578
2,019	389
2,020	372
2,021	158
2,022
Total	$ 919	$ 1,328

Note 4 - Property and Equipme_3

Note 4 - Property and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Depreciation, Total	$ 6,906	$ 7,001	$ 7,137
Amortization, Total	326	376	885
Telephone Plant Adjustment [Member]
Amortization, Total	$ (82)	$ (82)	$ 307

Note 4 - Property and Equipme_4

Note 4 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property Plant and Equipment, Gross	$ 304,057	$ 296,968
Accumulated depreciation and amortization	(251,984)	(246,080)
Net property and equipment	52,073	50,888
Land [Member]
Property Plant and Equipment, Gross	1,164	1,164
Building Improvements [Member]
Property Plant and Equipment, Gross	$ 13,196	12,999
Estimated Life (Year)	40 years
Building Improvements [Member] | Minimum [Member]
Estimated Life (Year)	20 years
Telephone Equipment [Member]
Property Plant and Equipment, Gross	$ 243,346	239,539
Estimated Life (Year)	20 years
Telephone Equipment [Member] | Minimum [Member]
Estimated Life (Year)	6 years
Cable Television Equipment [Member]
Property Plant and Equipment, Gross	$ 12,682	12,417
Cable Television Equipment [Member] | Maximum [Member]
Estimated Life (Year)	7 years
Furniture and Fixtures [Member]
Property Plant and Equipment, Gross	$ 3,066	3,087
Estimated Life (Year)	14 years
Furniture and Fixtures [Member] | Minimum [Member]
Estimated Life (Year)	8 years
Vehicles [Member]
Property Plant and Equipment, Gross	$ 6,906	6,992
Estimated Life (Year)	9 years
Vehicles [Member] | Minimum [Member]
Estimated Life (Year)	7 years
Computer Equipment [Member]
Property Plant and Equipment, Gross	$ 19,764	16,830
Estimated Life (Year)	7 years
Computer Equipment [Member] | Minimum [Member]
Estimated Life (Year)	5 years
Internet Equipment [Member]
Property Plant and Equipment, Gross	$ 3,933	$ 3,940
Internet Equipment [Member] | Maximum [Member]
Estimated Life (Year)	5 years

Note 5 - Other Accounts Recei_3

Note 5 - Other Accounts Receivable - Schedule of Other Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other Receivables	$ 1,899	$ 1,875
Carrier Access Bills Receivable [Member]
Other Receivables	277	282
NECA Receivable [Member]
Other Receivables	1,295	1,238
Receivables from Alabama Service Fund [Member]
Other Receivables	53	53
Other Miscellaneous [Member]
Other Receivables	$ 274	$ 302

Note 6 - Investments (Details T

Note 6 - Investments (Details Textual) - Interest Rate Cap [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Derivative, Term of Contract	2 years
Derivative Asset, Total	$ 4

Note 6 - Investments - Schedule

Note 6 - Investments - Schedule of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Investments	$ 1,498	$ 1,632
CoBank Stock, at Cost [Member]
Investments	1,192	1,311
Rental Property [Member]
Investments	219	245
Other Miscellaneous Investments [Member]
Investments	$ 87	$ 76

Note 7 - Notes Payable (Details

Note 7 - Notes Payable (Details Textual) - USD ($)	Oct. 22, 2018	Oct. 21, 2018	Feb. 17, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 03, 2018	Jan. 25, 2016
Amortization of Debt Issuance Costs				$ 476,000	$ 4,823,000	$ 1,397,000
Write off of Deferred Debt Issuance Cost			$ 140,000
Debt Issuance Costs, Current, Net, Total							$ 2,100,000
Senior Notes [Member]
Debt Issuance Costs, Gross				4,900,000
Amortization of Debt Issuance Costs					896,000
Write off of Deferred Debt Issuance Cost					3,070,000
Legal Fees					14,000
Subordinated Debt [Member]
Debt Issuance Costs, Gross				892,000
Amortization of Debt Issuance Costs					133,000
Write off of Deferred Debt Issuance Cost					621,000
Legal Fees					14,000
Previous Credit Facility [Member]
Debt Issuance Costs, Gross					2,700,000
Amortization of Debt Issuance Costs						141,000
Write off of Deferred Debt Issuance Cost						140,000
Legal Fees						15,000
Line of Credit Facility, Maximum Borrowing Capacity						5,000,000
Long-term Line of Credit, Total						0
New Credit Facility [Member]
Debt Issuance Costs, Gross				2,100,000
Amortization of Debt Issuance Costs				476,000	75,000
Line of Credit Facility, Maximum Borrowing Capacity				5,000,000
Long-term Line of Credit, Total				0
Line of Credit Facility, Commitment Fee Percentage	0.38%	0.50%
Line of Credit Facility, Commitment Fee Amount				24,000	$ 4,000
Debt Issuance Costs, Current, Net, Total				$ 446,000
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity								$ 5,000,000
Line of Credit Facility, Commitment Fee Percentage					0.75%
Line of Credit Facility, Commitment Fee Amount					$ 32,000	$ 33,000

Note 7 - Notes Payable - New Cr

Note 7 - Notes Payable - New Credit Facility (Details) - USD ($)	Dec. 31, 2018	Dec. 03, 2018	Dec. 31, 2017	Feb. 17, 2016
Debt issuance cost, current		$ (2,100,000)
Debt issuance cost				$ (15,000)
Notes payable, net of debt issuance cost, current	$ 3,904,000		$ 3,891,000
Notes payable, net of debt issuance cost, long-term	69,107,000		80,058,000
Notes payable, net of debt issuance cost	74,562,000
New Credit Facility [Member]
Notes payable, current	4,350,000
Notes payable, long-term	70,212,000
Notes payable, face amount	74,562,000		85,912,000
Debt issuance cost, current	(446,000)
Debt issuance cost, long-term	(1,105,000)
Debt issuance cost	(1,551,000)		(1,963,000)
Notes payable, net of debt issuance cost, current	3,904,000
Notes payable, net of debt issuance cost, long-term	69,107,000
Notes payable, net of debt issuance cost	$ 73,011,000		$ 83,949,000

Note 7 - Notes Payable - New _2

Note 7 - Notes Payable - New Credit Facility (Details) (Parentheticals)	Dec. 31, 2018
New Credit Facility [Member]
Notes payable, interest rate	6.77%

Note 7 - Notes Payable - Maturi

Note 7 - Notes Payable - Maturities of Notes Payable (Details) $ in Thousands	Dec. 31, 2018USD ($)
2,019	$ 4,350
2,020	4,350
2,021	4,350
2,022	61,512
2,023
Total	$ 74,562

Note 8 - Income Tax (Details Te

Note 8 - Income Tax (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 9,300,000
Deferred Tax Assets, Valuation Allowance, Total	$ 0
Effective Income Tax Rate Reconciliation, Percent, Total	22.50%	(184.50%)	41.50%
Alternative Minimum Tax [Member]
Tax Credit Carryforward, Amount	$ 0	$ 0
Domestic Tax Authority [Member]
Operating Loss Carryforwards, Total	0	0
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	$ 43,000	$ 33,000

Note 8 - Income Tax - Tax Effec

Note 8 - Income Tax - Tax Effects of Temporary Differences (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Federal income taxes
Current	$ 1,036	$ 1,201	$ 1,176
Deferred	898	(9,332)	1,872
Total federal tax expense (benefit)	1,934	(8,131)	3,048
State income taxes
Current	503	284	308
Deferred	308	(9)	302
Total state tax expense	811	275	610
Total income tax expense (benefit)	$ 2,745	$ (7,856)	$ 3,658

Note 8 - Income Tax - Deferred

Note 8 - Income Tax - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax liabilities:
Amortization	$ (10,947)	$ (11,058)
Depreciation	(9,701)	(8,408)
Prepaid expense	(357)	(151)
State net operating loss carryforwards and adjustments, liabilties	(277)	(266)
Other	(8)	(8)
Total deferred tax liabilities	(21,290)	(19,891)
Deferred tax assets:
Deferred compensation	142	131
Advance payments	612	520
Bad debt	145	71
Other	246	230
Total deferred tax assets	$ 1,145	$ 952

Note 8 - Income Tax - Effective

Note 8 - Income Tax - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Federal income tax at statutory rate	21.00%	35.00%	35.00%
Federal income tax provision at statutory rate	$ 2,565	$ 1,491	$ 3,081
State income tax provision, net of federal income tax effects	641	177	397
Federal tax rate change		(9,336)
Adjustments for prior years	(293)
Other	(168)	(188)	180
Total income tax expense (benefit)	$ 2,745	$ (7,856)	$ 3,658
Effective income tax rate	22.50%	(184.50%)	41.50%

Note 9 - Employee Benefit Pro_2

Note 9 - Employee Benefit Program (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2018
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Amount	$ 18,500	$ 18,500	$ 18,000
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4.50%	4.50%	4.50%
Defined Contribution Plan, Cost	$ 470,000	$ 486,000	$ 508,000
BTC [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	4.50%	4.50%	4.50%
Defined Contribution Plan, Cost	$ 21,000	$ 16,000	$ 16,000
Defined Contribution Plan, Minimum Annual Contributions Per Employee, Percent	1.00%
Multiemployer Plan, Contributions by Employer	$ 0	$ 0	$ 0
RSP [Member]
Multiemployer Plans, Collective-Bargaining Arrangement, Percentage of Employer's Participants	0.30%
Multiemployer Plans, Collective-Bargaining Arrangement, Percentage of Participants	0.10%
Defined Benefit Plan, Funded Percentage		98.00%
Multiemployer Plans, Plan Assets				$ 2,400,000,000

Note 10 - Net Income Per Comm_3

Note 10 - Net Income Per Common Share - Reconciliation of Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Weighted average number of common shares outstanding - basic (in shares)									3,388,624	3,346,689	3,283,177
Effect of dilutive securities (in shares)									46,238	98,943	121,519
Weighted average number of common shares and potential common shares - diluted (in shares)									3,434,862	3,445,632	3,404,696
Net income									$ 9,467	$ 12,115	$ 5,146
Net income per common share - basic (in dollars per share)	$ 0.66	$ 0.69	$ 0.86	$ 0.59	$ 2.21	$ 0.67	$ 0.46	$ 0.48	$ 2.79	$ 3.62	$ 1.57
Net income per common share - diluted (in dollars per share)	$ 0.65	$ 0.67	$ 0.85	$ 0.58	$ 2.14	$ 0.65	$ 0.45	$ 0.47	$ 2.76	$ 3.52	$ 1.51

Note 11 - Revenue Streams and_3

Note 11 - Revenue Streams and Concentrations (Details Textual) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Jun. 30, 2018	Jan. 01, 2018
Revenue, Remaining Performance Obligation, Amount	$ 9			$ 9
Contract with Customer, Liability, Total		$ 3.8			$ 3.9	$ 4.1
Contract with Customer, Liability, Revenue Recognized	1.4	$ 1.4	$ 1.5
Short-term Contract with Customer [Member]
Revenue, Remaining Performance Obligation, Amount	0.9			0.9
Long-term Contract with Customer [Member]
Revenue, Remaining Performance Obligation, Amount	$ 8			$ 8
Long-term Contract with Customer [Member] | Minimum [Member]
Revenue, Expected to Recognize, Term				2 years
Long-term Contract with Customer [Member] | Maximum [Member]
Revenue, Expected to Recognize, Term				5 years

Note 11 - Revenue Streams and_4

Note 11 - Revenue Streams and Concentrations - Revenue Streams (Details) - USD ($) $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2018

Dec. 31, 2017

Dec. 31, 2016

Revenues

$ 16,200

$ 16,252

$ 16,890

$ 16,726

$ 16,794

$ 16,946

$ 17,406

$ 17,380

$ 66,068

$ 68,526

$ 68,944

Revenues, percentage

100.00%

Month-to-Month Customers [Member]

Revenues, within scope of ASU 2014-09

$ 30,117

Revenues, percentage within scope of ASU 2014-09

61.70%

Month-to-Month Customers [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

45.60%

Competitive Local Exchange Carrier Business Customers [Member]

Revenues, within scope of ASU 2014-09

$ 14,061

Revenues, percentage within scope of ASU 2014-09

28.70%

Competitive Local Exchange Carrier Business Customers [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

21.30%

Network Access Customers [member]

Revenues, within scope of ASU 2014-09

$ 2,713

Revenues, percentage within scope of ASU 2014-09

5.60%

Network Access Customers [member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

4.10%

Month-to-Month, Competitive Local Exchange Carrier Business, and Network Access Customers [Member]

Revenues, within scope of ASU 2014-09

$ 46,891

Revenues, percentage within scope of ASU 2014-09

96.00%

Month-to-Month, Competitive Local Exchange Carrier Business, and Network Access Customers [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

71.00%

Global Access Customers [Member]

Revenues, within scope of ASU 2014-09

[1]

$ 1,932

Revenues, percentage within scope of ASU 2014-09

[1]

4.00%

Global Access Customers [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

[1]

2.90%

Month-to-Month, Competitive Local Exchange Carrier Business, Network Access, and Global Access Customers [Member]

Revenues, within scope of ASU 2014-09

$ 48,823

Revenues, percentage within scope of ASU 2014-09

100.00%

Month-to-Month, Competitive Local Exchange Carrier Business, Network Access, and Global Access Customers [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

73.90%

Managed Services [Member]

Revenues

[2]

$ 639

Managed Services [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

[2]

1.00%

Sales Channel, Directly to Consumer [Member]

Revenues

$ 49,462

Sales Channel, Directly to Consumer [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

74.90%

Local services [Member]

Revenues

$ 21,507

Local services [Member] | Sales Channel, Directly to Consumer [Member]

Revenues

21,507

Network Access [Member]

Revenues

21,100

Network Access [Member] | Sales Channel, Directly to Consumer [Member]

Revenues

4,645

Internet [Member]

Revenues

15,224

Internet [Member] | Sales Channel, Directly to Consumer [Member]

Revenues

15,224

Transport Services [Member]

Revenues

4,774

Transport Services [Member] | Sales Channel, Directly to Consumer [Member]

Revenues

4,623

Video and Security [Member]

Revenues

2,824

Video and Security [Member] | Sales Channel, Directly to Consumer [Member]

Revenues

2,824

Management Service [Member]

Revenues

639

Management Service [Member] | Sales Channel, Directly to Consumer [Member]

Revenues

639

Indefeasible Rights-Of-Use Agreements, Outside of ASU 2014-09 Scope [Member]

Revenues

[2]

$ 151

Indefeasible Rights-Of-Use Agreements, Outside of ASU 2014-09 Scope [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

[2]

0.20%

Network Access, Outside of ASU 2014-09 Scope [Member]

Revenues

[2]

$ 16,455

Network Access, Outside of ASU 2014-09 Scope [Member] | Sales Revenue, Services, Net [Member]

Revenues, percentage

[2]

24.90%

[1]

Fixed fees charged to MTM customers and CLEC business customers.

[2]

Revenue generated from sources not within the scope of ASU 2014-09.

Note 12 - Fair Value Measurem_3

Note 12 - Fair Value Measurement - Fair Value of Long-term Debt 3 (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long-term Debt, Total	$ 74,562
New Credit Facility [Member]
Long-term Debt, Total	73,011	$ 83,949
Reported Value Measurement [Member] | New Credit Facility [Member]
Long-term Debt, Total	74,562	85,912
Estimate of Fair Value Measurement [Member] | New Credit Facility [Member]
Long-term Debt, Total	$ 74,702	$ 86,542

Note 13 - Commitments and Con_3

Note 13 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Leases, Rent Expense, Net, Total	$ 542	$ 539	$ 562

Note 13 - Commitments and Con_4

Note 13 - Commitments and Contingencies - Minimum Future Rental Payments Under Non-Cancellable Operating Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)
2,019	$ 451
2,020	431
2,021	432
2,022	331
2,023	272
Thereafter	1,109
Total	$ 3,026

Note 14 - Stock Plans (Details

Note 14 - Stock Plans (Details Textual) - USD ($) $ in Thousands	Oct. 15, 2018	Dec. 31, 2018	Dec. 31, 2017
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total		$ 416
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense		$ 144	$ 52
Incentive and Non-Qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	20.00%
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		34,755	366,356
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested or Cancelled			267,413
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount	$ 0	$ 0
Allocated Share-based Compensation Expense, Total		290	$ 308
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total		$ 216	$ 343
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	29,460
Non-Qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	20,540
Incentive and Non-Qualified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years
Allocated Share-based Compensation Expense, Total		$ 18
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		50,000

Note 14 - Stock Plans - Summary

Note 14 - Stock Plans - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Restricted stock units outstanding (in shares)	98,943
Outstanding, weighted average grant date fair value (in dollars per share)	$ 4.51
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	34,755	366,356
Granted, weighted average grant date fair value (in dollars per share)	$ 13.30
Restricted stock units vested (in shares)	(67,386)
Vested, weighted average grant date fair value (in dollars per share)	$ 4.56
Restricted stock units forfeited or cancelled (in shares)
Forfeited or cancelled, weighted average grant date fair value (in dollars per share)
Restricted stock units outstanding (in shares)	66,312	98,943
Outstanding, weighted average grant date fair value (in dollars per share)	$ 9.06	$ 4.51

Note 14 - Stock Plans - Summa_2

Note 14 - Stock Plans - Summary of Stock Option Activity (Details) - Incentive and Non-Qualified Stock Options [Member]	12 Months Ended
	Dec. 31, 2018$ / sharesshares
Stock options outstanding (in shares) | shares
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	50,000
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 16.97
Stock options vested (in shares) | shares
Vested, weighted average grant date fair value (in dollars per share) | $ / shares
Stock options forfeited or cancelled (in shares) | shares
Forfeited or cancelled, weighted average grant date fair value (in dollars per share) | $ / shares
Stock options outstanding (in shares) | shares	50,000
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares	$ 16.97

Note 15 - Selected Quarterly _3

Note 15 - Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue	$ 16,200	$ 16,252	$ 16,890	$ 16,726	$ 16,794	$ 16,946	$ 17,406	$ 17,380	$ 66,068	$ 68,526	$ 68,944
Operating income	4,024	4,536	5,172	4,061	4,544	4,989	5,053	5,021	$ 17,793	$ 19,607	$ 18,813
Net income	$ 2,237	$ 2,326	$ 2,908	$ 1,996	$ 7,382	$ 1,589	$ 1,536	$ 1,608
Net income per common share - basic (in dollars per share)	$ 0.66	$ 0.69	$ 0.86	$ 0.59	$ 2.21	$ 0.67	$ 0.46	$ 0.48	$ 2.79	$ 3.62	$ 1.57
Net income per common share - diluted (in dollars per share)	$ 0.65	$ 0.67	$ 0.85	$ 0.58	$ 2.14	$ 0.65	$ 0.45	$ 0.47	$ 2.76	$ 3.52	$ 1.51