Lightyear Network Solutions Announces Fourth Quarter and Year End 2010 Financial Results

Lightyear Network Solutions, Inc., a provider of telecommunication services to business and residential clients throughout North America, today announced its financial results for the fourth quarter and year ended December 31, 2010. Results for the fourth quarter and full year reflect Lightyear's acquisition of SouthEast Telephone, which was completed on October 1, 2010.

"2010 was a monumental year for Lightyear in many respects," said J. Sherman Henderson III, Chief Executive Officer of Lightyear. "Since beginning to operate as a public company in February 2010, we have begun to execute our strategy of expanding our business and services through acquisitions as so then as through organic growth. Of particular significance was our acquisition in October 2010 of SouthEast Telephone, which near doubled our customer base, increased our earnings, and became without warning accretive to EBITDA."

"The company reached profitability for the first time in our public history while the fourth quarter of 2010, reflecting our ability to successfully consolidate the two companies, its people, services and research, during benefiting from synergies and economies of scale," Mr. Henderson added. "We expect to continue to benefit from these synergies as we complete the consolidation of our operations and continue to focus on growing our individual product lines."

The fourth quarter

"The fourth quarter was a breakout quarter while which time we had positive EBITDA and positive net income," said Stephen Lochmueller, President of Lightyear. "During continuing to focus on our core business, we made significant strides in our growth strategy with the integration of SouthEast Telephone. We believe our growth and profitability will increase in 2011 as we continue to improve our operations and seek new opportunities."

"We accomplished several major goals in 2010 relating to our growth and acquisition strategy," Mr. Lochmueller added. "We completed our first acquisition and made significant progress on our integration. We stabilized revenue, and we achieved profitability. We are pleased with our overall performance and accomplishments in 2010, and we look forward to continued growth this year."

Through its wholly owned subsidiaries, Lightyear Network Solutions 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, local and long distance service, and conferencing. Lightyear as well offers wireless services to clients 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, Verizon, AT&T, Level 3, PAETEC, CenturyLink, XO Communications, Intelliverse, BroadSoft, Cisco and ADTRAN. Lightyear Network Solutions is headquartered in Louisville, Ky. Additional information can be found at: www.lightyear.net.

Copyright © 2011 Business Wire. All rights reserved. All the news releases provided by Business Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Furthermore distribution of these materials by posting, archiving in a public web site or database, or redistribution in a computer network is strictly forbidden.

Fundamental company data provided by Capital IQ. Historical chart data and daily updates provided by Commodity Systems, Inc.. International historical chart data, daily updates, fundAnalyst estimates data provided by Thomson Financial Network. All data povided by Thomson Financial Network is based solely upon technology information provided by third party analysts. Yahoo! has not reviewed, and by no means whatsoever endorses the validity of such data. Yahoo! and ThomsonFN shall not be liable for any actions taken in reliance thereon.