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Press Release -- November 14th, 2012
Source: Lightyear Network Solutions
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Lightyear Network Solutions Announces Third Quarter 2012 Financial Results

LOUISVILLE, Ky., November 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 third quarter ended September 30, 2012. Financial highlights for the Third Quarter of 2012 include:

  • Wireless services revenue grew by approximately $293,000 (or 27%) in the third quarter of 2012 compared with the third quarter of 2011, while local services revenue decreased by approximately $208,000 (or 11%) for the same period
  • Operating expenses declined by approximately $667,000 (or 10%) in the third quarter of 2012 compared with the year-ago third quarter
  • Cash generated from operations increased to approximately $331,000 for the third quarter of 2012 compared with approximately $177,000 for the second quarter of 2012
  • Non-GAAP EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization and Non-Cash Stock-Based Compensation) decreased to approximately ($111,000) in the third quarter of 2012 compared with approximately $418,000 in the second quarter of 2012

“We continue to manage through these challenging economic times and the continued decrease in residential local phone service throughout the industry,” said Stephen M. Lochmueller, Lightyear’s Chief Executive Officer. “While we were disappointed with our EBITDA results, we were pleased with the increase of cash generated from operations and the growth of our wireless services revenue. The Company will continue to focus of providing the highest quality services in the most efficient manner possible. We are implementing plans that we expect will improve our EBITDA performance in coming quarters.”

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