LOUISVILLE, Ky., May 15, 2012 — Lightyear Network Solutions, Inc. (the “Company”) (OTC Markets: LYNS), an established provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, announced today its financial results for the first quarter ended March 31, 2012.
Financial highlights for the First Quarter 2012 include:
- Non-GAAP EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization and Non-Cash Stock Based Compensation) showed an improvement of approximately $170,000 (or 210%) from $80,000 to $250,000 compared with Q1 2011
- Cash generated from operations was approximately $537,000 compared with cash used in operations of approximately $462,000 in the year-ago first quarter
- The downward trend of revenue occurring during 2011 appears to be turning around as evidenced by the revenue increase over the fourth quarter 2011 by approximately $366,000 (or 2%)
- Wireless revenue grew by approximately $168,000 (or 15%) over the fourth quarter 2011
- Wireless orders increased by 37% over the year-ago first quarter
“We believe that Lightyear is continuing to build positive momentum, and we are pleased with the progress our Company has made,” said Stephen M. Lochmueller, Lightyear’s Chief Executive Officer. “We again saw growth in our wireless sector for the first quarter, and it continues to be bright spot for Lightyear. We are focused on improving our financial results in 2012.”
Conference Call set for May 16 at 11 a.m. EDT
Management of Lightyear will host a conference call on May 16, 2012, at 11 a.m. EDT to discuss these results. Those who wish to participate in the conference call may dial 877-597-2663 (conference code: 5351842) from the United States; international callers may dial 678-809-2332.
An audio replay and transcript of the conference call will be available. For details, visit www.lightyear.net.