-- Lightyear’s “Agent Bonus League” Driving New Organic Growth --
LOUISVILLE, KY, June 30, 2010 - Lightyear Network Solutions, Inc. (OTCBB:LYNS, news, filings), a provider of data, voice and wireless telecommunication services to large, medium and small businesses, as well as residential consumers throughout North America, today announced Season 2 of its successful incentive program, known as the Agent Bonus League (ABL).
The ABL is a program designed to aggressively drive new business to Lightyear by providing agents the potential to earn significant bonus payments in addition to their competitive monthly commissions. Season 1 of the ABL ran from May 1, 2009 through May 1, 2010 and was extremely popular among the Lightyear agent network, adding significant new revenues for Lightyear.
“Season 1 of the ABL program exceeded our expectations in many regards,” said J. Sherman Henderson III, CEO of Lightyear Network Solutions. “Implementing effective incentive programs and retaining key agents are extremely important for Lightyear as we look to increase organic growth in 2010. Agents across North America have embraced the program and are excited about the prospects of the upcoming second season. The revenues generated from this program complement our strategy of enhancing growth though accretive acquisitions.”
The second season of the ABL runs over a shorter period of time, from June 1 through September 30, 2010 with agents having the opportunity to earn from $2,500 to over $500,000 in extra one-time bonus compensation based on monthly revenue. In addition, the program has various incentives for top performers, including cash rewards for the top producing agent and those that experience the most improvement.
“Due to the fact that the 2010 ABL program is somewhat shorter than the 2009 season, we expect agents who are serious about earning substantial bonuses to capitalize on this opportunity by initiating business development strategies as quickly and efficiently as possible,” said Kevin Parker, VP of Sales. “As with the 2009 program, we expect 2010 to be a success and look forward to reporting our results at the end of the season.”
About Lightyear Network Solutions, Inc.
Through its wholly owned subsidiary, Lightyear Network Solutions, LLC, Lightyear provides telecommunication services to large, medium and small businesses and to residential consumers throughout North America utilizing its extensive network of independent agents and representatives. J. Sherman Henderson III, Lightyear’s Chief Executive Officer, has nearly 25 years experience in the telecommunications industry. Henderson was named one of the Top 25 Most Influential People in Telecommunications and was elected for six consecutive terms as Chairman of COMPTEL, the leading industry association representing more than 250 service providers. Lightyear’s product and service offerings include: local PRI and digital T1, enhanced internet services, frame relay, MPLS, Point-to-Point, Voice over Internet Protocol (VoIP), local and long distance, calling cards, and conferencing. Lightyear has also begun offering wireless services to customers in the U.S. through wholesale contracts with multiple wireless voice and data service providers. Lightyear built its own VoIP network in 2004 to enhance its product offerings to its customers and has partnered with some of the most prominent names in telecom including: Sprint, Verizon, AT&T, Qwest, Level 3, PAETEC, CenturyLink, Intelliverse, Globys BroadSoft, Cisco and Adtran. Lightyear Network Solutions is headquartered in Louisville, KY. Additional information can be found at: www.lightyear.net.
This press release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Lightyear’s actual results to differ materially from those currently anticipated. These forward-looking statements may include, without limitation, statements about our marketing and acquisition opportunities, business strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward looking statements are reasonable, the risks and uncertainties which could cause our actual results to differ materially from those currently anticipated includes changes in market conditions, our ability to integrate acquired operations, the ability to obtain additional financing on satisfactory terms, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and risk factors described in our filings with the Securities and Exchange Commission. Lightyear undertakes no obligation to revise or update any forwardlooking statements in order to reflect events or circumstances that may arise after the date of this press release.
Porter, LeVay & Rose, Inc.
Marlon Nurse, V.P. – Investor Relations
Trilogy Capital Partners
Darren Minton, President