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): November 1, 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))

Item 2.02. Results of Operations and Financial Condition

On Tuesday, November 1, 2005 Warwick Valley Telephone Company (the “Company”) issued a press release which contained certain results of the Company’s operations for the six month period ended June 30, 2005. 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 Six Months Ended June 30, 2005,” dated November 1, 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: November 1, 2005	By:	/s/ Michael A. Cutler
	Name: Title:	Michael A. Cutler Vice President and Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release entitled “Warwick Valley Telephone Reports Financial Results for the Six Months Ended June 30, 2005,” dated November 1, 2005.

EX-99.1

Page 1 of 2

Exhibit 99.1

Warwick Valley Telephone Reports Financial Results for the Six Months Ended June 30, 2005

Warwick, N.Y.-(MARKET WIRE)-November 1, 2005-Warwick Valley Telephone Company (NASDAQ: WWVYE) announced today its financial results as of June 30, 2005. Michael Cutler, Chief Financial Officer, reported that Net Income for the six month period decreased 25% to $2,885 million from $3, 868 million for the same period in 2004.

     Operating revenues for the six month period decreased 6% in comparison to the same period in 2004 due to several factors: a reduction in local service revenues from access line losses to a competitor, a decrease in network access revenues mainly as a result of lower local switching support from the Universal Service Fund and a decline in switched access minutes, a decrease in long distance service revenues as customer trends continue to shift towards wireless communications, and a decrease in other services and sales resulting from lower rates mandated by the FCC for reciprocal compensation and from an overall decrease in sales of other non-regulated ancillary services.

     Total operating expenses for the six month period increased 11% in 2005 as compared to the same period in 2004 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.

     Other income (expenses) increased 17% for the first six months of 2005 as compared to 2004 primarily due to the $889 thousand gain realized from the May 2005 release to the Company of funds that had been held in escrow as part of the terms of the sale of the Company’s investment in DataNet in October 2004.

     Earnings per share for the six-month period were $0.54 as compared to $0.71 for 2004.

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

Page 2 of 2

Warwick Valley Telephone Company
Financial Data
(Unaudited)

	Six Months Ended
	June 30,
(Dollars in thousands, except per share data)	2005			2004		Change
Income Statement Data
Operating Revenues		13,075			13,925		-6	%
Plant Repair and Maintenance Expenses		2,288			2,084		10	%
Depreciation, Testing and Other Expenses		4,398			4,203		5	%
Customer Service Expenses		2,146			2,326		-8	%
Other Operating Expenses		5,518			4,321		28	%
Operating (Loss) Income		(1,275	)		991		-229	%
Non-Operating Income and Expenses		5,736			4,919		17	%
Income Taxes		1,576			2,042		-23	%
Net Income		2,885			3,868		-25	%
Preferred Dividends		13			13		0	%
Income Applicable to Common Stock		2,872			3,855		-25	%
Basic & Diluted Earnings Per Share		0.54			0.71		-24	%

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