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 14, 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 November 14, 2005 Warwick Valley Telephone Company (the “Company”) issued a press release which contained certain results of the Company’s operations for the nine month period ended September 30, 2005. The Company’s press release is furnished herewith as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits

     (c) Exhibits

99.1. Press release entitled “Warwick Valley Telephone Reports Financial Results for the Nine Months Ended September 30, 2005,” dated November 14, 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 14, 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 Nine Months Ended September 30, 2005,” dated November 14, 2005.

EX-99.1

Exhibit 99.1

Warwick Valley Telephone Reports Financial Results for the Nine Months Ended September 30, 2005

WARWICK, NY — (MARKET WIRE) — 11/14/05 — Warwick Valley Telephone Company (NASDAQ: WWVY) announced today its financial results as of September 30, 2005. Michael Cutler, Chief Financial Officer, reported that Net Income for the nine month period decreased 36% to $3.852 million from $6.019 million for the same period in 2004.

Operating revenues for the nine month period decreased 7% 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 nine month period increased 13% 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 12% for the first nine months of 2005 as compared to 2004 primarily due to the $889,000 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 nine-month period were $0.71 as compared to $1.11 for 2004.

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

Warwick Valley Telephone Company
Financial Data
(Unaudited)

	Nine Months Ended
	September 30,
	(Dollars in thousands, except per share data)
	2005			2004		Change
Income Statement Data
Operating Revenues		19,425			20,948		(7	%)
Plant Repair and Maintenance Expenses		3,472			3,257		7	%
Depreciation, Testing and Other Expenses		6,721			6,329		6	%
Customer Service Expenses		3,269			3,435		(5	%)
Other Operating Expenses		8,551			6,462		32	%
Operating (Loss) Income		(2,588	)		1,465		(277	%)
Non-Operating Income and Expenses		8,544			7,635		12	%
Income Taxes		2,104			3,081		(32	%)
Net Income		3,852			6,019		(36	%)
Preferred Dividends		19			19		0	%
Income Applicable to Common Stock		3,833			6,000		(36	%)
Basic & Diluted Earnings Per Share		0.71			1.11		(36	%)

CONTACT:
Warwick Valley Telephone
Michael Cutler
(845) 986-8080