|By Business Wire||
|May 6, 2014 10:41 PM EDT||
Lumos Networks Corp. (“Lumos Networks” or the “Company”) (Nasdaq:LMOS), a fiber-based service provider of data, voice and IP-based telecommunication services in the Mid-Atlantic region, announced that its 53 mile long-haul route from Richmond to Charlottesville, Virginia is scheduled for completion, both on time and within budget, during the second quarter of 2014. The Company expects to complete final testing on the route over the next several weeks and is scheduled to begin routing high-speed fiber-based Carrier Ethernet traffic in June of 2014.
Joseph McCourt, Chief Revenue Officer, said, “I am pleased to announce that we expect to begin routing fiber bandwidth traffic onto our 100G DWDM long-haul route between the cities of Charlottesville and Richmond within the next few weeks. This route will have a fiber count of 288 strands, making it one of the densest portions of our fiber network and adds another unique route to the Lumos Networks fiber footprint.”
Lumos Networks will benefit from the completion of this fiber long-haul route in two primary ways. First, the Company will own 100% of the fiber on this route and will thus eliminate significant Type 2 leased fiber expense that the Company is currently paying other fiber providers. Second, this route will be the only 100G DWDM route with a dense fiber count connecting these two important cities and will be well positioned to deliver Enterprise, Data Center and Fiber to the Cell traffic.
Craig Drinkhall, Chief Technology Officer for Lumos Networks added, “During the fourth quarter of 2014, we also plan to complete our 100G DWDM long-haul route between Richmond and Ashburn, Virginia, which is the data center capital of the United States. Once that route is completed, we will have a redundant fiber ring that will allow our key Virginia Enterprise customers to access this data center capacity. At that point, we believe that Lumos Networks will be increasingly well positioned to have the densest fiber network in the Mid-Atlantic region.”
About Lumos Networks
Lumos Networks is a fiber-based service provider in the Mid-Atlantic region serving carrier, business and residential customers over a dense fiber network offering data, voice and IP services. With headquarters in Waynesboro, VA, Lumos Networks serves Virginia, West Virginia and portions of Pennsylvania, Kentucky, Ohio, and Maryland over a fiber network of 7,467 fiber route miles. 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 presentation 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.
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