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Press Release -- September 13th, 2017
Source: Lumos Networks

Lumos Networks names Gary Crocco as Director of Enterprise Sales in Richmond, Va Market

Tuesday, September 12, 2017
Lumos Networks names Gary Crocco as Director of Enterprise Sales in Richmond, Va Market
WAYNESBORO, VA – September 13, 2017- Lumos Networks Corp. (“Lumos Networks” or the “Company”) (NASDAQ:LMOS, news, filings), a leading fiber-based service provider in the Mid-Atlantic region, today announced Gary Crocco as Director of Enterprise Sales for the Company’s Richmond, Virginia metro market. Gary will report to Conrad Hunter, the Richmond-based Vice President and General Manager for the Company’s expansion markets of Richmond and Hampton Roads.

Gary has over of 20 years of total Enterprise sales experience, with 16 of those years focused in the Richmond market. He has held sales leadership roles at Level 3 Communications and Cavalier Telephone. While at Cavalier, Gary held the position of Senior Vice President of Commercial Sales and Retention where he led all direct, indirect and retention sales channels for the company.

“I am pleased to announce that Gary Crocco has joined Lumos Networks as a Sales Director in our Richmond, Virginia market,” said Timothy G. Biltz, President and CEO of Lumos Networks. “Gary brings a wealth of experience and relationships in the robust Richmond Enterprise market, which in June of 2016, had an estimated $125 million in annual fiber data Enterprise spending within one mile of our dense, fully redundant 450 mile fiber network in Richmond.”

Mr. Biltz continued, “Our monthly Enterprise revenue in the Richmond market has grown by over 50% since the beginning of 2016 and we have announced the following key customer wins in Richmond: HCA, VCU Health Systems and Radiology Associates. However, we estimate that our share of the Richmond Enterprise market is well under 5% and we would expect to increase that share over time under the leadership of Conrad and Gary.”

Gary Crocco said, “I am excited about the opportunity to leverage my Enterprise sales leadership experience and relationships in the dynamic Richmond, Virginia market. I look forward to helping Lumos Networks continue its tradition of developing customer-focused solutions in the rapidly growing Richmond Enterprise market.”

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 and governmental 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 and our Quarterly Reports filed on Form 10-Q.

About Lumos Networks

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 26 markets in Virginia, West Virginia, North Carolina, Pennsylvania, Maryland, Ohio and Kentucky. With a fiber network of 10,983 fiber route miles and 515,362 total fiber strand miles, Lumos Networks connects 1,307 unique Fiber to the Cell sites, 1,672 total FTTC connections, 2,171 on-net buildings and approximately 3,500 total on-net locations. The Company also connects 43 total data centers, including five data centers acquired from DC74, two acquired from Clarity Communications and seven company owned co-location facilities. 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.

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