LOUISVILLE, Ky., August 14, 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 second quarter ended June 30, 2012.
Financial highlights for the second quarter of 2012 include:
Non-GAAP EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization and Non-Cash Stock-Based Compensation) increased to approximately $418,000 in the second quarter of 2012 compared with approximately $251,000 in the first quarter of 2012, an improvement of approximately 67%
- Net loss from operations decreased to approximately $17,000 in the second quarter of 2012 compared with approximately $492,000 in the first quarter of 2012
- Wireless revenue increased by approximately 8% in Q2 2012 compared with Q1 2012
- Voice services (which includes long-distance and conference calling) grew approximately 2% in the second quarter of 2012 compared with the first quarter of 2012
- Cash generated from operations was approximately $714,000 for the six months ended June 30, 2012, compared with cash used in operations of approximately $631,000 for the same period in 2011
“Despite a difficult economic environment that we expect to continue through the remainder of 2012, Lightyear has improved on several financial measurements on a quarter-to-quarter basis,” said Stephen M. Lochmueller, Lightyear’s Chief Executive Officer. “Notably, we have seen quarter-to-quarter increases in our wireless and voice services revenue, and we have reduced the loss from operations. We continue to have our teams focused on providing the highest quality services in the most efficient manner possible.”
Conference Call is set for August 17 at 11 a.m. EDT
Management of Lightyear will host a conference call on August 17, 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.