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RTB |
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The UESA RTB will support testing of advanced radar components that are potential candidates for replacement of the TRAC-A antenna currently in use on the Navy's E2-C Hawkeye surveillance aircraft. Since the RTB was set up in 1971, the federal government has funded it with more than half a billion dollars, which, supposedly, the borrowers will eventually pay back in order to privatize the bank. During the second quarter of 2006, the Company's North Pittsburgh Telephone Company subsidiary received a payment of $19,622,000 from the Rural Telephone Bank (RTB) for the redemption of its RTB stock and recognized a gain on the full amount of the proceeds received, which, on an after tax basis, contributed $11,479,000, or $. |
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