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Exhibit 99.1
Contact: | Will Davis | |
SVP of Marketing and Investor Relations | ||
Chief of Staff | ||
Phone: 917-519-6994 | ||
Email: davisw@lumosnet.com |
CORRECTING AND REPLACING Lumos Networks Corp. Reports Full Year 2016 Results
Please replace the release with the following corrected version to update the Cash Flows from Financing Activities for 2015 section of the Condensed Consolidated Statement of Cash Flows table.
The corrected release should read:
On a YoY Basis, Total Revenue up over 1%, Data Revenue up over 8%,
FTTC Revenue up nearly 29% and Enterprise Revenue up over 14%
Full Year 2016 Highlights:
| Year-over-year growth in consolidated revenues and Adjusted EBITDA |
| $206.9 million total revenue, up over 1% |
| $29.6 million in operating income, down nearly 19%, and net loss of $0.5 million, or $0.02 per diluted share |
| $95.1 million in Adjusted EBITDA, up over 3% |
| Total 2016 Data revenue of $123.6 million, up over 8% year-over-year |
| Total combined Fiber to the Cell (FTTC) and Enterprise revenue of nearly $89 million, up nearly 20% year-over-year |
| Combined FTTC/Enterprise constituted 72% of total Data revenue versus 65% in 2015, of which approximately 95% tied to Ethernet and other advanced fiber technologies |
Fourth Quarter 2016 Highlights:
| Year-over-year growth in consolidated revenues and Adjusted EBITDA |
| $51.9 million total revenue, up less than 1% |
| $7.5 million in operating income, down approximately 25%, and net income of $0.1 million, or $0.00 per diluted share |
| $23.9 million in Adjusted EBITDA, down over 2% |
| Total 4Q16 Data revenue of over $31.6 million, up over 6% year-over-year |
| Total combined FTTC and Enterprise revenue over $23.5 million, up nearly 19% year-over-year |
| Combined FTTC/Enterprise constituted over 74% of total Data revenue versus 66% in the prior year, of which approximately 95% tied to Ethernet and other advanced fiber technologies |
| Fiber Infrastructure Growth |
| Reached 1,304 unique FTTC sites, up nearly 19% year-over-year; and 1,659 total FTTC connections, up over 15% year-over-year |
| Added 47 lit Enterprise buildings in 4Q16 to reach 2,031, up over 17% year-over-year |
| In 2016, added 1,505 fiber route miles with an average strand count of 71 |
| Average fiber strand count of 49 across Lumos footprint, up nearly 9% year over year |
WAYNESBORO, VA March 7, 2017 Lumos Networks Corp. (Lumos Networks, Lumos or the Company) (Nasdaq: LMOS), a leading fiber-based service provider in the Mid-Atlantic region, today announced its results for the fourth quarter and full year 2016.
Total revenue for the full year 2016 was $206.9 million, up over 1% from the prior year. The Company generated operating income of $29.6 million in 2016, down nearly 19% compared to 2015. Net loss attributable to Lumos Networks Corp. in 2016 was $0.5 million, or $0.02 per diluted share, compared to net income of $10 million, or $0.43 per diluted share, in 2015. Total Adjusted EBITDA was $95.1 million in 2016, up over 3% from the prior year period.
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Lumos Networks Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Lumos Networks Corp. provided additional information to their SEC Filing as exhibits
Ticker: LMOS
CIK: 1520744
Form Type: 10-K Annual Report
Accession Number: 0001520744-17-000004
Submitted to the SEC: Tue Mar 28 2017 4:27:36 PM EST
Accepted by the SEC: Tue Mar 28 2017
Period: Saturday, December 31, 2016
Industry: Telephone Communications No Radiotelephone