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Lightyear Network Solutions Announces First Quarter 2012 Financial ResultsLOUISVILLE, Ky. --(Business Wire)-- Lightyear Network Solutions (News - Alert), 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:
"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. About Lightyear Network Solutions, Inc. Through its wholly owned subsidiaries, Lightyear Network Solutions, Inc. provides telecommunication services to large, medium and small businesses and to residential consumers throughout North America. Lightyear's product offerings include local PRI and digital T1, enhanced Internet services, MPLS, Ethernet, Voice over Internet Protocol (VoIP), local and long distance service, and conferencing. Lightyear also offers wireless services to customers in the U.S. through wholesale contracts with multiple wireless providers. Lightyear built its own VoIP network in 2004 to enhance its product offerings and has partnered with some of the most prominent names in telecom including: Sprint (News - Alert), Verizon, AT&T, Level 3, Windstream, CenturyLink, tw telecom, XO Communications and Cisco. Lightyear Network Solutions, Inc. is headquartered in Louisville, Ky. Additional information can be found at: www.lightyear.net. Forward-Looking Statements This press release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause Lightyear's actual results to differ materially from those currently anticipated. These forward-looking statements may include, without limitation, statements about our marketing and acquisition opportunities, business strategies, competition, expected activities and expenditures as we pursue our business plan. Although we believe that the expectations reflected in any forward-looking statements are reasonable, the risks and uncertainties which could cause our actual results to differ materially from those currently anticipated includes changes in market conditions, our ability to integrate acquired operations, the ability to obtain additional financing on satisfactory terms, customer acceptance of products, regulatory issues, competitive factors, or other business circumstances and risk factors described in our Form 10-K for the year ended December 31, 2011, filed on March 30, 2012, and other filings with the Securities and Exchange Commission. Lightyear undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.
Non-U.S. GAAP Financial Measures The Company has utilized the non-GAAP information set forth below as an additional device to aid in understanding and analyzing its financial results for the three months ended March 31, 2012, and the three months ended March 31, 2011. Management believes that these non-GAAP measures will allow for a better evaluation of the operating performance of the Company's business and facilitate meaningful comparison of the results in the current period to those in prior and future periods. Reference to these non-GAAP measures should not be considered a substitute for results that are presented in a manner consistent with GAAP. A limitation of utilizing these non-GAAP measures is that GAAP accounting does in fact reflect the underlying financial results of the Company's business. Therefore, management believes that the GAAP measures as well as the corresponding non-GAAP measures of the Company's financial performance should be considered together. A reconciliation of the Company's GAAP net loss for the quarters ending March 31, 2012, and March 31, 2011, to its non-GAAP EBITDA for the same period is set forth below:
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