Lumos Networks Significantly Expands Near-Net List to 104,000 Buildings
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, announced a significant expansion of its near-net list of buildings within one-half mile of its 7,645 route-mile fiber network.
The utilization of advanced mapping tools to more accurately locate fiber splice points combined with the continued expansion of the Lumos fiber footprint has increased the Company’s near-net list from 15,000 to 67,000 buildings. Pro forma to include the planned 665-mile fiber network expansion in the Richmond and Norfolk, Virginia metro markets announced by the Company today, the near-net list increases substantially to approximately 104,000 buildings.
“The dramatic expansion of our near -net building list is a testament to the benefits of the continued strategic expansion of our fiber network and I expect that it will provide the foundation of our future Carrier End User growth,” said Timothy G. Biltz, CEO and President of Lumos Networks. “As our industry evolves, I fully expect that leading fiber, Telco and Cable MSO partners will look to Lumos as a partner to provide connectivity for their customers in our footprint.”
Joseph E. McCourt, Chief Revenue Officer of Lumos added, “Our Carrier End User sales reached $104,000 in the third quarter of 2014, up 70% on a sequential basis, and totaled more than the first and second quarters combined. Over time, we expect that our Carrier End User business will generate over 50% of our total Enterprise sales.”
“We have signed or pending MSAs with over 30 key national and regional fiber, telco and Cable MSOs in our partnership program,” added Mr. McCourt. “Our momentum is clearly building and we expect that our revised updated near net building list will accelerate our efforts with these key partners. This program is a win-win for Lumos and our partners as we can monetize our fiber network with customer wins that our direct Enterprise sales channel could not typically reach and our partners are able to serve their customers without significant incremental capital.”
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 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.
Sorry. No data so far.