By Business Wirevia The Motley Fool
Filed under: Investing
Lumos Networks Corp. Reports Fourth Quarter 2012 Financial Results
Year over Year Growth in 4Q12 Revenue and Adjusted EBITDA
Strategic Data Revenue was 52% of Total 4Q12 Revenue and Grew 5% Sequentially
Adjusted EBITDA Margins Expand for Second Consecutive Quarter to 44.1%
Cash Dividend of $0.14 per Share Declared
WAYNESBORO, Va.–(BUSINESS WIRE)– Lumos Networks Corp. (“Lumos Networks” or “the Company”) (NAS: LMOS) , a fiber-based service provider of data, voice and IP-based telecommunication services in the Mid-Atlantic region, today announced financial results for its fourth quarter of 2012.
Total revenue for the fourth quarter of 2012 was $52.7 million, compared to $51.1 million for the fourth quarter of 2011 and $52.0 million in the third quarter of 2012. Total adjusted EBITDA was $23.2 million for the fourth quarter of 2012, compared to $23.0 million in the fourth quarter of 2011 and to $22.3 million in the third quarter of 2012.
“Our strong execution continued in the fourth quarter as our Strategic Data revenue grew 5% sequentially and represented 52% of total sales, up from 50% in the prior quarter,” said Tim Biltz, CEO and President of Lumos Networks. “Our Strategic Data revenue grew 17% from the same quarter in the prior year, which is the third straight quarter of accelerating revenue growth for this product segment.”
“Our adjusted EBITDA margins reached 44.1%, marking the second straight quarter of sequential margin improvements, and we are making clear progress towards our longer term margin target of 47%,” Mr. Biltz continued. “I view this quarter’s results as a true inflection point in our operating results and I am confident that our current momentum will carry through 2013.”