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, today updated the total number of fiber route miles in its network, as of December 31, 2013, to 7,414. This figure includes both Metro and Long-Haul route miles. Previously, the Company had disclosed 5,800 long-haul route miles only.
The majority of this increase in route miles is related to organic fiber expansion in key Mid-Atlantic markets, with a primary focus on expanding the Company’s Metro footprint. A smaller component of this increase is related to the completion of an initiative to convert the Company’s fiber records into a new centralized fiber management program. Currently, approximately 60% of Lumos Networks fiber network is under Indefeasible Rights to Use (“IRU”) agreements versus 83% as disclosed previously.
The President and CEO of Lumos Networks, Tim Biltz, commented, “I am pleased to announce a revision to our fiber network route mileage disclosure to include both Metro and Long-Haul miles and to include the results from the expansion of our fiber footprint in the last few years. We believe that this updated mapped specificity of our fiber network will significantly enhance our ability to aggressively pursue key Enterprise, Carrier, Data Center and Fiber to the Cell opportunities in our markets.”
About Lumos NetworksLumos 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 7,414 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 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 Reports filed on Forms 10-K and our Quarterly Reports filed on Forms 10-Q.
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