- Revenues from Lumos Networks’ data and wholesale products in the Competitive segment continued to show strong growth trends, up 16% over first quarter last year. This growth offset losses in the legacy voice products, resulting in the Company slightly exceeding the high ends of its revenue and adjusted EBITDA guidance ranges for first quarter.
- As of December 31, 2011, the Company had 148 fiber connections to cell sites and it expects to more than double such connections by the end of 2012. Fiber connections to cell sites are a key driver of Wholesale Data revenue, and Wholesale Data revenue for the quarter was up 29% over first quarter 2011.
- The Company continued to support Enterprise Data sales in existing and expansion markets, increasing on-net buildings to 1,066 as of March 31, 2012 as compared to 1,051 as of December 31, 2011.
- The transition of revenue composition to data products continues. The Competitive segment, comprised of approximately two-thirds data revenue, accounted for 76% of consolidated revenue in the first quarter of 2012 compared to 73% in the first quarter of 2011.
Lumos Networks Corp. Reports First Quarter 2012 Financial Results
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