-- MVNO Agreement Expected to Contribute to Growth in Wireless Business --
LOUISVILLE, Ky., June 8, 2011 - Lightyear Network Solutions, Inc. (OTCBB:LYNS, news, filings), a provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, today announced that it has launched its MVNO (Mobile Virtual Network Operator) operations under a new five-year agreement with Sprint.
The contract allows Lightyear to partner directly with Sprint on new wireless products, and provide postpaid and prepaid mobile telephone products and service utilizing the Nationwide Sprint Network. The agreement provides numerous benefits for Lightyear, including a larger and improved selection of the newest Sprint wireless devices, quicker access to those products, greater flexibility regarding product and service offerings for Lightyear customers, and the ability to offer bundled Lightyear wireline and wireless products.
The MVNO agreement enables Lightyear to offer an enhanced suite of wireless products, while lowering its costs. Lightyear’s sales force will immediately begin offering these enhanced services under the MVNO agreement to its more than 60,000 customers.
Lightyear recently initiated a marketing program to increase its commercial business activities, and this agreement with Sprint will enable the company to expand its efforts with new and existing business customers, including the availability to offer new solutions such as fixed mobile convergence. The agreement will also provide benefits to residential customers who will have access to a broader selection of wireless handsets, including a number of phones with the increasingly popular Android operating system.
“We are pleased to announce the launch of our MVNO with Sprint, which has been a valuable Lightyear provider partner for a number of years,” said Stephen M. Lochmueller, Chief Executive Officer of Lightyear. “This MVNO agreement will contribute to our long-term strategy to increase our organic growth. We expect our wireless business to contribute to our growth and profitability in 2011, with increasing benefits in future years.”
About Lightyear Network Solutions, Inc.
Through its wholly owned subsidiaries, Lightyear Network Solutions provides telecommunication services to large, medium and small businesses and to residential consumers throughout North America. Lightyear’s product offerings include local PRI and digital T1, enhanced Internet services, MPLS, Ethernet, Voice over Internet Protocol (VoIP), local and long distance service, and conferencing. Lightyear also offers wireless services to customers in the U.S. through wholesale contracts with multiple wireless providers. Lightyear built its own VoIP network in 2004 to enhance its product offerings and has partnered with some of the most prominent names in telecom including: Sprint, Verizon, AT&T, Level 3, PAETEC, CenturyLink, XO Communications, Intelliverse, BroadSoft, Cisco and ADTRAN. Lightyear Network Solutions is headquartered in Louisville, Ky. Additional information can be found at:
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 forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.