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): April 3, 2007

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

New York	0-11174	14-1160510
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
47 Main Street, Warwick , New York		10990
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: 845-986-8080

Not Applicable
______________________________________________
Former name or former address, if changed since last report

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

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  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 April 3, 2006, Warwick Valley Telephone Company (the "Company") issued a press release which announced certain results of the Company’s operations for the twelve month period ended December 31, 2006. The Company’s press release is furnished herewith as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

99.1. Press release entitled "Warwick Valley Telephone Company Reports Financial Results for the Twelve Months Ended December 31, 2006," dated April 3, 2007.

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
April 3, 2007	By:	Kenneth H. Volz
		Name: Kenneth H. Volz
		Title: Interim Vice President, Chief Financial Officer & Treasurer

Exhibit Index

Exhibit No.	Description
99.1	Warwick Valley Telephone Company Reports Financial results for the Twelve Months Ended December 31, 2006

EX-99.1

Exhibit 99.1

Warwick Valley Telephone Company Reports Financial Results for the Twelve Months Ended December 31, 2006
(WARWICK, NY, April 3, 2007)

Warwick Valley Telephone Company (NASDAQ: WWVY) announced on March 30, 2007 its financial results as of December 31, 2006. Kenneth H. Volz, Interim Chief Financial Officer, reported that Net Income for the twelve month period decreased 23% to $3,997 million from $5,170 million for the same period in 2005.

Operating revenues decreased 8% in 2006 as compared to the same period in 2005 due principally to a decrease in revenue from access lines and reduced network access.

Total operating expenses decreased 4% in 2006 as compared to the same period in 2005 primarily due to lower professional and consulting fees related to the Sarbanes-Oxley compliance process, lower trunk line costs for internet and long distance services and customer operation salaries and benefits as a result of decreased staffing.

Other income (expenses) decreased 10% in 2006 as compared to 2005 primarily due to decreased earnings from the Company’s investment in Orange County-Poughkeepsie Limited Partnership (“O-P”).

Earnings per share for the twelve month period were $0.74 in 2006 as compared to $0.96 for 2005.

The chart that follows provides additional information in summary form. Further information about the Company’s earnings and business operations can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006, which was filed with the Securities and Exchange Commission on March 30, 2007.

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
(Audited)

	For the Years Ended December 31,
(Dollars in thousands, except per share data)	2006			2005			Change
Income Statement Data
Operating Revenues		25,236			27,342			-8	%
Plant Repair and Maintenance Expenses		5,388			4,911			10	%
Depreciation, Testing and Other Expenses		8,938			9,213			-3	%
Customer Service Expenses		4,164			4,460			-7	%
Other Operating Expenses		10,540			11,705			-10	%
Operating (Loss) Income		(3,794	)		(2,947	)		29	%
Non-Operating Income and Expenses		9,831			10,903			-10	%
Income Taxes		2,040			2,786			-27	%
Net Income		3,997			5,170			-23	%
Preferred Dividends		25			25			0	%
Income Applicable to Common Stock		3,972			5,145			-23	%
Basis & Diluted Earnings Per Share		0.74			0.96			-23	%

CONTACT:
Warwick Valley Telephone Company
Kenneth H. Volz
(845) 986-8080