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With its latest Minnesota acquisitions on the books, Newton-based Iowa Telecommunications Services Inc. last week reported quarterly earnings before interest, taxes, depreciation and amortization of $33.4 million, compared with $31.6 million in the same period a year ago. However, net income was $4.6 million, or 13 cents per share, a decrease from $5.7 million, or 17 cents per share, in the third quarter of 2008.

Iowa Telecom “acquired substantially all of the assets of (Minnesota-based) Sherburne Tele Systems Inc.” during the quarter, according to its filing with the Securities and Exchange Commission. Also, “on Sept. 24, 2009, we completed our acquisition of New Ulm Telecom Inc.’s ownership interests in EN-TEL Communications LLC, SHAL LLC and SHAL Networks Inc.” The SHAL entities operate fiber-optic services in Minnesota.

Iowa Telecom reported: “As of Sept. 30, 2009, we have drawn only $41.0 million of our $100 million credit facility, providing us ample room to prudently expand our rural telecommunications business as attractive opportunities arise.”