WAYNESBORO, Va.--(BUSINESS WIRE)--
Lumos Networks Corp. (“Lumos Networks”) (LMOS), a leading fiber-based service provider in the mid-Atlantic region, announced continued expansion of the Company’s sales pipeline from prospective carrier customers seeking diverse fiber routes from the Va. Beach undersea cable landing site into both Richmond, Va. as well as Ashburn, Va., the Data Center Capital of the World. Carriers have requested proposals for both lit and dark services to satisfy their need for secure, high bandwidth solutions.
Timothy G. Biltz, President and CEO of Lumos Networks said, “Given the depth, scale and density of our fiber footprint in the key Eastern and Northern markets of Virginia, we are well positioned for a surge in bandwidth demand beginning in the second half of 2017 as carriers seek access from the landing site to Ashburn and other key East Coast data center destinations. It is estimated that approximately 70% of global Internet traffic passes through Ashburn."
Mr. Biltz noted, “Currently, the fiber routes along highway I-95 can become extremely congested due to the multitude of fiber providers and the continual increase in bandwidth traffic. These routes are vulnerable to disruption of services due to the lack of diverse north/south routes. Therefore, we expect strong demand for one of our planned routes, which would provide a geographically diverse alternative to the crowded route along the I-95 corridor in order to guarantee mission critical demand traffic to Ashburn, Va.”
Mr. Biltz continued, “Over the next several years there are a number of different undersea cables scheduled to reach the Virginia Beach landing site, which is less than half a mile from our dense fiber footprint. Of these scheduled cables, we estimate that the two Telefonica cables, the MAREA Cable (also funded by Microsoft and Facebook) and the BRUSA Cable, could begin carrying traffic in the third quarter of 2017 and the second quarter of 2018, respectively. We believe their landing will set precedence and act as a catalyst for bandwidth demand coming into the landing site.”
Representatives from Lumos Networks’ Carrier End User team are arranging meetings at the upcoming ITW show in Chicago from May 14-17. To request a meeting to discuss Lumos’ Virginia Beach undersea cable solutions or connectivity across our 9,200+ fiber route mile Mid Atlantic footprint, please contact Roger Adamiak, Director of Strategic Carrier Sales, (412) 915-0820 or adamiakr@LumosNet.com.
Lumos Networks is a leading fiber-based service provider in the Mid-Atlantic region serving Carrier, Enterprise and Data Center customers, offering end-to-end connectivity in 25 markets in Virginia, West Virginia, North Carolina, Pennsylvania, Maryland, Ohio and Kentucky. With a fiber network of 10,112 fiber route miles and 491,276 total fiber strand miles, Lumos Networks connects 1,304 unique Fiber to the Cell sites, 1,659 total FTTC connections, 36 data centers, including 7 company owned co-location facilities, 2,031 on-net buildings and nearly 3,400 total on-net locations. In 2016, Lumos Networks generated over $123 million in Data revenue over our fiber network. Detailed information about Lumos Networks is available at www.lumosnetworks.com.
SPECIAL NOTE FROM THE COMPANY REGARDING FORWARD-LOOKING STATEMENTS
Any statements contained in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. The words “anticipates,” “believes,” “expects,” “intends,” “plans,” “estimates,” “targets,” “projects,” “should,” “may,” “will” and similar words and expressions are intended to identify forward-looking statements. Such forward-looking statements reflect, among other things, our current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. We do not undertake any obligation to update or review any forward-looking information, whether as a result of new information, future events or otherwise. Important factors with respect to any such forward-looking statements, including certain risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, include, but are not limited to: the successful closing of the announced transaction with EQT Infrastructure, including obtaining the requisite regulatory, governmental and shareholder approvals and satisfying other closing conditions; the risk that required governmental and regulatory approvals may delay the transaction or result in the imposition of conditions that could cause the parties to abandon the transaction or materially impact the financial benefits of the transaction; the timing to consummate the proposed transaction; any disruption from the proposed transaction making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on transaction-related issues; the transaction may involve unexpected costs, liabilities or delays; the outcome of any legal proceedings related to the transaction, the failure by EQT Infrastructure to obtain the necessary financing arrangement set forth in commitment letters received in connection with the merger; the impact of the acquisitions of Clarity Communications and DC74 Data Centers on our operations; rapid development and intense competition with resulting pricing pressure in the telecommunications and high speed data transport industry; our ability to grow our data business on an organic or inorganic basis in order to offset expected revenue declines in legacy voice and access products; our ability to obtain new carrier contracts or expand services under existing carrier contracts at competitive pricing levels to offset churn and achieve revenue growth from our carrier businesses; our ability to separate our legacy business on a timely basis; our ability to effectively allocate capital and timely implement network expansion plans necessary to accommodate organic growth initiatives; our ability to complete customer installations in a timely manner; adverse economic conditions; operating and financial restrictions imposed by our senior credit facility and our unsecured debt obligations; our cash and capital requirements; our ability to maintain and enhance our network; the potential to experience a high rate of customer turnover; federal and state regulatory fees, requirements and developments; our reliance on certain suppliers and vendors; and other unforeseen difficulties that may occur. These risks and uncertainties are not intended to represent a complete list of all risks and uncertainties inherent in our business, and should be read in conjunction with the more detailed cautionary statements and risk factors included in our SEC filings, including our Annual Report filed on Form 10-K.