|By Business Wire||
|June 23, 2014 01:48 PM EDT||
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 that it has distributed its near-net building list of approximately 15,000 locations to key national and regional carrier partners. This near-net building list has over 7 times the number of on-net buildings, Fiber to the Cell sites and connected data centers that Lumos Networks is currently connected.
“We believe that our near-net building list of approximately 15,000 locations will significantly expand the addressable market of our Carrier End User group and provide us with substantial opportunities to monetize our dense fiber network by securing incremental customer contracts that we would not typically be able to capture through our standard direct Enterprise sales efforts,” said Joseph E. McCourt, Chief Revenue Officer of Lumos Networks.
Mr. McCourt continued, “We look forward to working with our partners to create a “win-win” for customers by providing secure, high bandwidth on-net fiber connectivity at reduced installation times. We are committed to responding quickly to Ethernet capacity requests for 100 Mb and higher and we expect that our Carrier End User group will drive an increasingly larger portion of our Enterprise sales as we move through the second half of 2014 and into 2015.”
About Lumos Networks
Lumos Networks is a fiber-based service 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 7,467 fiber route miles, Lumos Networks is connected to 633 Fiber to the Cell sites, 13 data centers and approximately 1,400 on-net buildings. In 2013, Lumos Networks generated over $104 million in data revenue over our 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 on Form 10-K for the year ended December 31, 2013 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2014.
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