Lumos Networks Announces Average Fiber Density of 46 Strands
Lumos Networks Corp. (“Lumos Networks” or the “Company”) (NASDAQ:LMOS) , a leading fiber-based service provider of data, voice and IP-based telecommunication services in the Mid-Atlantic region, today announced the results of its extensive conversion of fiber records into a new centralized fiber management system. Total fiber mileage denotes fiber route miles multiplied by the number of fiber strands on each route.
At the end of the third quarter of 2014, Lumos Networks had an average fiber density of approximately 46 strands per route mile, equating to 352,000 fiber miles, of which over 60% are Company-owned. Following the 665 mile planned fiber network expansion in the Richmond and Norfolk Virginia markets announced today, it is expected that the percentage of total fiber miles, including strands, owned by Lumos, will exceed 70%.
Timothy G. Biltz, CEO and President of Lumos Networks said, “We believe that our average fiber density of 46 strands compares favorably with others in the fiber industry and we believe that our density will increase substantially over time. Most importantly, we are confident that our fiber network provides the necessary fiber breadth, capacity and geographic diversity to serve the ever growing demand of our Fiber to the Cell, Carrier, Enterprise and Data Center customers in our six-state footprint.”
“Strategically increasing the density and robustness of our fiber network in certain routes and regions is a key and ongoing focus for Lumos Networks,” noted Craig Drinkhall, Chief Technology Officer of Lumos Networks. “For example, in the first three quarters of 2014, we constructed 231 fiber route miles with an average fiber density of over 125 strands per route mile. Following our planned 665 fiber mile expansion noted above, our overall average fiber strand density will reach the mid 50’s level and the density of our Company-owned fiber mileage will expand to well over 80 strands.”
Average Lumos Networks Fiber Density (Strand Count)
Current Overall: 46
Total Fiber Mileage (including strands)
Total Lumos: 352,000
Pro-Forma Fiber Mileage post 665 Route Mile Expansion
Lumos-Owned Mileage: 316,000
Lumos-Owned Average Fiber Density: 80+
Overall Lumos Fiber Density: mid 50s
Percentage of Total Fiber Mileage Owned: 71%
About Lumos Networks
Lumos Networks is a fiber-based provider in the Mid-Atlantic region serving Carrier and Enterprise customers offering end to end connectivity in 23 markets in Virginia, Pennsylvania, West Virginia, Maryland, Ohio and Kentucky. With a fiber network of 7,645 fiber route miles, Lumos Networks connects to 708 Fiber to the Cell sites, 28 total data centers and 1,456 on-net buildings. In 2013, Lumos Networks generated over $104 million in Data Revenue over its fiber network. Detailed information about Lumos Networks is available at www.lumosnetworks.com.
SPECIAL NOTE FROM THE COMPANY REGARDING FORWARD-LOOKING STATEMENTS
Any statements contained in this news release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. The words “anticipates,” “believes,” “expects,” “intends,” “plans,” “estimates,” “targets,” “projects,” “should,” “may,” “will” and similar words and expressions are intended to identify forward-looking statements. Such forward-looking statements reflect, among other things, our current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. We do not undertake any obligation to update or review any forward-looking information, whether as a result of new information, future events or otherwise. Important factors with respect to any such forward-looking statements, including certain risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, include, but are not limited to: rapid development and intense competition in the telecommunications and high speed data transport industry; our ability to offset expected revenue declines in legacy voice and access products related to the recent regulatory actions, wireless substitution, technology changes and other factors; our ability to effectively allocate capital and implement our “edge-out” expansion plans in a timely manner; our ability to complete customer installations in a timely manner; adverse economic conditions; operating and financial restrictions imposed by our senior credit facility; our cash and capital requirements; declining prices for our services; our ability to maintain and enhance our network; the potential to experience a high rate of customer turnover; federal and state regulatory fees, requirements and developments; our reliance on certain suppliers and vendors; and other unforeseen difficulties that may occur. These risks and uncertainties are not intended to represent a complete list of all risks and uncertainties inherent in our business, and should be read in conjunction with the more detailed cautionary statements and risk factors included in our SEC filings, including our Annual Report for the year ended December 31, 2013. Additionally, goals referred to in this news release are long-term in nature and are subject to various risks and uncertainties. The inclusion of a goal in this release is not a representation by any person that the results will be achieved.
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