8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 5, 2005

Warwick Valley Telephone Company
(Exact name of registrant as specified in its charter)

0-11174
(Commission File No.) 14-1160510
(I.R.S. Employer Identification No.)

New York
(State or other jurisdiction of incorporation or organization)

47 Main Street
Warwick, New York 10990
(845) 986-8080
(Address, including zip code, and telephone number,
including area code, of Registrant’s principal executive offices)

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

o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 2.02. Results of Operations and Financial Condition
	Item 9.01. Financial Statements and Exhibits
SIGNATURES
Exhibit Index
EX-99.1 Press Release

Item 2.02. Results of Operations and Financial Condition

On Wednesday, October 5, 2005 Warwick Valley Telephone Company (the “Company”) issued a press release which contained certain results of the Company’s operations for the year ended December 31, 2004. The Company’s press release is furnished herewith as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits

(c)	Exhibits
	Exhibit 99.1. Press release entitled “Warwick Valley Telephone Reports Financial Results for the Twelve Months Ended December 31, 2004,” dated October 5, 2005.

SIGNATURES

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

	WARWICK VALLEY TELEPHONE COMPANY                                    (Registrant)
Date: October 5, 2005	By:	/s/ Michael A. Cutler
	Name:	Michael A. Cutler
	Title:	Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release entitled “Warwick Valley Telephone Reports Financial Results for the Twelve Months Ended December 31, 2004,” dated October 5, 2005.

EX-99.1

Exhibit 99.1

Warwick Valley Telephone Reports Financial Results for the Twelve Months Ended December 31, 2004

Warwick, N.Y. — (MARKET WIRE) — October 5, 2005 — Warwick Valley Telephone Company (Nasdaq: WWVYE) announced today their financial results as of December 31, 2004. Michael Cutler, Chief Financial Officer, reported that Net Income for the twelve month period increased 15% to $8,928 million from $7,730 million for the same period in 2003.

     Operating revenues decreased 3% in comparison to the same period in 2003 primarily due to a reduction in network access service revenues largely from lower local switching support revenues received from the Universal Service Fund and rate reductions enacted based upon Order from the New York State Public Service Commission, and a decline in other services and sales revenues, partially offset by higher revenues from Internet-related services due to the continued growth of the DSL and Video products.

     Total operating expenses increased 4%, in 2004 as compared to the same period in 2003 primarily due to increased professional and consulting fees associated with Section 404 of the Sarbanes-Oxley Act, which relates to internal control over financial reporting and higher depreciation expense due to ongoing plant upgrades to accommodate the growing demand for Internet based technologies, such as DSL and Video, partially offset by lower trunk line expenses, reflecting lower capacity requirements and operating efficiencies resulting from cost control efforts.

     Other income (expenses) increased 47%, in 2004 as compared to 2003 mainly due the gain realized on the sale of the Company’s interest in DataNet in October 2004 and the continued successful performance of the Orange County-Poughkeepsie Limited Partnership. The Partnership’s call volume remained strong throughout the year.

     Earnings per share were $1.65 as compared to $1.43 for 2003.

     Warwick Valley Telephone provides Local, Toll, Cellular, Internet, Video and other communications services in Southeastern New York and Northwestern New Jersey.

     As previously reported, operating income and net income for the first two quarters of 2005 have decreased in comparison to the first two quarters of 2004. There can be no assurance that the Company’s performance in 2004 is indicative of its performance for 2005 as a whole.

Page 2 of 2

Warwick Valley Telephone Company
Financial Data
(Audited)

			Years Ended
	December 31,
(Dollars in thousands, except per share data)
	2004		2003		Change
Income Statement Data
Operating Revenues		27,678		28,649		-3	%
Plant Repair and Maintenance Expenses		4,317		4,738		-9	%
Depreciation, Testing and Other Expenses		8,541		7,747		10	%
Customer Service Expenses		4,698		4,483		5	%
Other Operating Expenses		9,008		8,504		6	%
Operating Income		1,114		3,177		-65	%
Non-Operating Income and Expenses		12,391		8,426		47	%
Income Taxes		4,577		3,873		18	%
Net Income		8,928		7,730		15	%
Preferred Dividends		25		25		0	%
Income Applicable to Common Stock		8,903		7,705		16	%
Basic & Diluted Earnings Per Share		1.65		1.43		15	%

CONTACT:	Warwick Valley Telephone
	Michael Cutler
	(845) 986-8080
KEYWORD:	New York, New Jersey
INDUSTRY WORD:	Telecom, Internet