PRESS RELEASE


 

Media Contact
Will Davis
Senior Vice President of Marketing and Investor Relations
Chief of Staff
(917) 519-6994
davisw@lumosnet.com

 

For immediate release

Friday, December 9, 2016
Lumos Networks Sees Growing Enterprise Demand in Richmond Market

WAYNESBORO, Va.--(BUSINESS WIRE)-- Lumos Networks Corp. (“Lumos Networks” or the “Company”) (Nasdaq: LMOS), a leading fiber-based service provider in the Mid-Atlantic region, continues to benefit from positive end market Enterprise demand trends in its Richmond, Virginia metro market.

Richmond is the 49th largest Metro market (MSA) in the United States and the Company estimates there is an addressable market of over $125 million in annual enterprise fiber data spend within one mile of the Company’s Richmond footprint. The Company expects continued growth of this addressable market due to increased spending by enterprises on mission-critical applications requiring fiber bandwidth connectivity and continued network expansion driven by success-based enterprise contract wins.

Robby Demeria, Executive Director of RVA Tech, the Richmond Technology Council said, "Establishing the region as a technology center is essential to our success. Lumos Networks' investment will further assist in making that vision a reality while addressing the ever-changing needs of our growing technology community."

The Company’s advanced fiber network in the Richmond Metro market has over 450 route miles with an average fiber density of approximately 175 strands. The most recent portion of our Richmond network, totaling approximately 340 miles, was completed in the spring of 2016 along with our Norfolk/Hampton Roads market. These fiber networks were underpinned by a 269 Fiber to the Cell (“FTTC”) site 13-year contract with a national US wireless operator.

“I am pleased with the progress and business pipeline of our Richmond fiber market,” said Timothy G. Biltz, President and CEO of Lumos Networks. “Given the large and growing addressable market in the Richmond metro area and our current enterprise market share of only approximately 2% within one mile of our footprint, we expect that Richmond will play a key role in achieving the Company’s target of doubling its Enterprise revenue to approximately $100 million over the next five years.”

Mr. Biltz continued, “We have seen immediate benefits from the addition of Conrad Hunter as the Vice President and General Manager of our Expansion Markets, including both Richmond and Norfolk. Conrad has extensive business experience in the Richmond market and since his hire on November 1st, we have energized the sales team and expanded our sales pipeline. We expect strong new sales growth in our Expansion markets as we finish out 2016 and head into 2017.”

About the Combination of Spirit Communications and Lumos Networks

The combination of Spirit Communications and Lumos Networks creates a super-regional fiber bandwidth network with over 21,000 miles of fiber and more than 9,000 on-net locations across nine states in the Mid-Atlantic and Southeast United States. The new entity offers a full range of Ethernet, MPLS, dark fiber, advanced voice and cloud services to thousands of carrier, enterprise, data center and government customers. The entity also connects 44 total data centers, including 12 co-location and data centers. More information: is available at www.lumosnetworks.com. and www.spiritcom.com.

###
 
 
Lumos Networks provides fiber internet, voice, and IP connectivity over a dense fiber-based network serving enterprise and carrier customers in areas around and including Roanoake, VA, Richmond, VA, Daleville, VA, Waynesboro, VA, Hampton Roads, VA, Virginia Beach, VA, Lynchburg, VA, Charleston, WV, Huntington, WV, Beckley, WV, Parkersburg, WV, Clarksburg, WV, Morgantown, WV, Wheeling, WV, Pittsburgh, PA, Harrisburg, PA, Altoona, PA, Hagerstown, MD, and Washington, D.C.