• Non-GAAP EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization and Non-Cash Stock Based Compensation) showed an improvement of approximately $170,000 (or 210%) from $80,000 to $250,000 compared with Q1 2011
• Cash generated from operations was approximately $537,000 compared with cash used in operations of approximately $462,000 in the year-ago first quarter
• The downward trend of revenue occurring during 2011 appears to be turning around as evidenced by the revenue increase over the fourth quarter 2011 by approximately $366,000 (or 2%)
• Wireless revenue grew by approximately $168,000 (or 15%) over the fourth quarter 2011
• Wireless orders increased by 37% over the year-ago first quarter

“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.

– Company’s Conference Call set for May 16 at 11 a.m. EDT –

LOUISVILLE, Ky., May 9, 2012 — Lightyear Network Solutions, Inc. (OTCQB: LYNS), an established provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, announced today that it will release its financial results for the first quarter ended March 31, 2012, on Tuesday, May 15, 2012.

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.

“We believe Lightyear is continuing to build positive momentum as management navigates the Company during this challenging economic environment,” said Stephen M. Lochmueller, Lightyear’s Chief Executive Officer. “Several key figures from the year ended December 31, 2011, improved from the previous year, including, most significantly, our approximately $4 million improvement in year over year non-GAAP EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization and Impairment Loss).”

Financial highlights for 2011 include:

• 2011 non-GAAP EBITDA improved to $1.3 million, compared with a loss before interest, taxes, depreciation, amortization and net gain on bargain purchase of $2.5 million in 2010;
• 2011 net loss from operations was $900 thousand, compared with 2010’s loss from operations of $2.9 million;
• Due to the redemption of the 9.5 million shares of Convertible Preferred Stock, the Company reported a deemed dividend of approximately $11.8 million, or approximately $0.54 per diluted share;
• Loss per Common Share before the deemed dividend for the redemption of Convertible Preferred Stock was $0.03.

“We are pleased with the progress our Company has made,” Mr. Lochmueller added. “We are focused on improving our financial results in 2012.”

Conference Call set for April 4 at 11 a.m. EST

Management of Lightyear will host a conference call on Wednesday, April 4, 2012, at 11 a.m. EST 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.

• The Company expects 2011 non-GAAP EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization and Impairment Loss) to be between $1.0 million and $1.3 million. The Company had a loss before interest, taxes, depreciation, amortization and net gain on bargain purchase of $2.8 million in 2010.
• Net loss from operations is expected to be between $800 thousand and $1.1 million. 2010’s loss from operations was $2.9 million.
• Due to the redemption of the 9.5 million shares of Convertible Preferred Stock, the Company anticipates a deemed dividend of approximately $11.8 million, or approximately $0.54 per diluted share.
• Loss per Common Share before the deemed dividend for the redemption of Convertible Preferred Stock is estimated to be $0.03.

The above amounts are subject to finalization of the Company’s 2011 results.

“Although the economic environment remains challenging, Lightyear is continuing to make positive financial strides forward, especially as we compare 2010 figures with estimated numbers for 2011,” said Stephen M. Lochmueller, Lightyear’s Chief Executive Officer. “We expect the Company to record EBITDA of $1.0 million to $1.3 million for 2011, compared with an EBITDA loss before gain on bargain purchase of $2.8 million in 2010. This represents a significant improvement in our operations. Our net loss from operations has also improved significantly, as we expect it to be between $800 thousand and $1.1 million for 2011, an approximate 70 percent reduction in the loss from the 2010 figure.”

LOUISVILLE, Ky., November 15, 2011 — Lightyear Network Solutions, Inc. (the “Company”) (OTCBB: LYNS), an established provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, today announced its financial results for the quarter ended September 30, 2011. Results for the third quarter of 2011 include Lightyear’s acquisition of SouthEast Telephone, which was completed on October 1, 2010.
Financial highlights for the Third Quarter include:

• Net income of $103 thousand for the third quarter 2011 compared with a net loss of $222 thousand in the second quarter 2011 and a net loss of $828 thousand in the year-ago third quarter;
• Gross profit increased 1.2%, or $78 thousand, compared with the second quarter of this year;
• SGA (Selling, General and Administrative) expenses were reduced 6.1% compared with the second quarter 2011;
• Loss from operations was reduced to $45 thousand from $250 thousand in the second quarter 2011 and from $987 thousand in the year-ago third quarter;
• EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) improved to $515 thousand compared with an EBITDA of $178 thousand in the second quarter of this year and a loss before interest, taxes, depreciation and amortization of $935 thousand in the year-ago third quarter;
• Net loss per common share, including the cumulative preferred stock dividends, was $0.01 compared with a net loss of $0.06 per share for the year-ago third quarter.

“Lightyear continues to make significant strides forward as we again had several encouraging financial trends in the third quarter,” said Stephen M. Lochmueller, Lightyear’s Chief Executive Officer. “One of the more important indicators was that the Company recorded net income compared with a net loss in the year-ago quarter, and we were EBITDA positive in the quarter compared with a net loss last year. Lightyear also had some encouraging quarter-to-quarter figures, as our gross profit margin increased 1.2%, and our SGA operating expenses were reduced 6.1%.”
“We believe that our improving financial results, along with our recently announced redemption of convertible preferred stock, positions Lightyear well for the future,” Mr. Lochmueller added. “Had the stock redemption been recorded as of January 1, 2011, the net loss per share would have been reduced by $.02 per share during the first nine months of 2011. We are pleased with the progress our Company is making, and we believe we’ll continue to see improvement in our financial results this year.”
Earnings Conference Call set for Nov. 22 at 11 a.m. EST
Management of Lightyear will host an earnings conference call on Tuesday, Nov. 22, 2011, at 11 a.m. EST. 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.

LOUISVILLE, Ky., November 7, 2011 — Lightyear Network Solutions, Inc. (the “Company”) (OTCBB: LYNS), an established provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, today announced that it has completed a transaction to redeem all of its outstanding shares of convertible preferred stock.

In the transaction, the Company redeemed 9.5 million shares of convertible preferred stock held by LY Holdings, LLC (“LYH”), plus the preferred stockholders surrendered their rights to accrued dividends of approximately $2.2 million, in exchange for receivables due to the Company totaling approximately $12.9 million. The convertible preferred stock redemption is expected to result in a fourth quarter, one-time, non-cash deemed preferred stock dividend of approximately $10.7 million, which will be presented in the statement of operations as a deduction to arrive at the loss attributable to common stockholders.

“We are pleased to announce the redemption of our convertible preferred stock,” said Stephen M. Lochmueller, Lightyear’s Chief Executive Officer. “Since I became CEO, a key objective was to minimize the dividend obligations and preferential position of our convertible preferred stockholders and to strengthen the position of the Company’s common stockholders.”

As a result of the transaction, the Company’s common stock is the only class of capital stock that is issued or outstanding. As of September 30, 2011, 22,089,888 of common shares were issued and outstanding.

“We believe that the redemption of our convertible preferred stock will have an immediate impact on how our stock is viewed,” said Randy Ammon, Lightyear’s President and Chief Operating Officer. “The net loss per share attributable to the common stockholders would have been reduced by nearly $0.02 per share during the first six months of 2011 primarily by the elimination of the convertible preferred stock dividend had this transaction been recorded as of January 1, 2011.”

Mr. Lochmueller added, “By eliminating our convertible preferred stock, we believe this helps improve the attractiveness of Lightyear’s common stock and shows management’s commitment to our common stockholders.”

Additional information regarding this transaction may be found in the Company’s Form 8-K dated November 7, 2011, as filed with the Securities and Exchange Commission.

LOUISVILLE, Ky. — August 16, 2011 – Lightyear Network Solutions, Inc. (OTCBB: LYNS), a provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, today announced its financial results for the quarter ended June 30, 2011. Results for the second quarter of 2011 include Lightyear’s acquisition of SouthEast Telephone, which was completed on October 1, 2010.
Financial highlights for the Second Quarter include:

• Revenue of $17.8 million for the second quarter 2011 increased 58.3% from $11.3 million in the year-ago quarter;
• Gross profit of $6.2 million increased 74.4% over the second quarter 2010;
• Gross profit margins increased 3.2% for the quarter to 35.0% from 31.8% in the year-ago quarter;
• Loss from operations was reduced to $250 thousand from $1.052 million in the year-ago quarter;
• EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) improved to a gain of $178 thousand compared with an EBITDA loss of $1.254 million in the year-ago second quarter;
• Net loss of $222 thousand compared with a net loss of $1.315 million in the year-ago second quarter;
• Loss attributable to common stockholders, including $379 thousand of cumulative preferred stock dividends, was $601 thousand, compared with a net loss of $1.644 million, including a $329 thousand cumulative preferred stock dividend in the year-ago second quarter;
• Net loss per common share, including the cumulative preferred stock dividends, was $0.03 for the quarter, compared with a net loss of $0.09 per share for the year-ago second quarter.

“Our financial results for the second quarter 2011 showed several positive trends,” said Stephen M. Lochmueller, Chief Executive Officer of Lightyear. “We were EBITDA positive in the second quarter compared with a loss in the same period in 2010, and our gross profit increased nearly 75 percent to $6.2 million compared with the year-ago quarter.”
 
“Also in the second quarter, we completed the integration of the approximately 30,000 customers from our subsidiary, SouthEast Telephone, into Lightyear’s Portal System, our in-house client service and account management system. We expect to continue to see positive results in our operating efficiencies as we move forward.”
 
“We are pleased with our company’s progress and believe we’ll see continued improvement in our financial results in 2011.”

To download the complete Press Release in pdf format, click here.

LOUISVILLE, Ky., August 12, 2011 – Lightyear Network Solutions, Inc. (OTCBB: LYNS), a provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, today announced that it will release its financial results for the second quarter ended June 30, 2011, on Monday, August 15, 2011.

Management of Lightyear Network Solutions will host a conference call on Wednesday, Aug. 17, 2011, at 11 a.m. EDT. 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.

LOUISVILLE, Ky., July 7, 2011 – Lightyear Network Solutions, Inc. (OTCBB: LYNS), a provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, today announced that it has completed a major phase of its integration with its subsidiary, SouthEast Telephone.

This major accomplishment includes consolidating all of the approximately 30,000 existing SouthEast Telephone residential and business customers into Lightyear’s Portal System, its in-house, state-of-the-art, proprietary client service and account management system. Lightyear’s Portal System was designed and developed internally and now contains the company’s entire customer base of approximately 60,000 customers. The system has the capacity for adding more than a million additional accounts.
 
“We are pleased to announce this important news about the integration of our SouthEast Telephone customers into the Lightyear Portal System,” said Stephen M. Lochmueller, Chief Executive Officer of Lightyear. “No matter if it’s a single-line residential customer or large multi-location business client, Lightyear values all of our customers, and our Portal System enables us to manage them efficiently and deliver exceptional customer care to them.”
 
“Having all our customers on one centralized invoicing and client management platform offers a significant benefit to the company, including creating operational efficiencies, eliminating unnecessary system redundancies and maximizing headcount,” Mr. Lochmueller added. “We believe this integration will contribute to our strategy to increase organic growth and profitability.”
 
Lightyear acquired SouthEast Telephone, which has a 41-county footprint in Kentucky, in the Fourth Quarter 2010. SouthEast is a provider of voice and data telecom products, including local and long distance phone service and DSL. Its customer base consists primarily of residential customers.
 
 

LOUISVILLE, Ky., June 23, 2011 – Lightyear Network Solutions, Inc. (OTCBB: LYNS), a provider of data, voice and wireless telecommunication services to business and residential customers throughout North America, today announced that it has expanded its network services portfolio by launching its new Hosted VoIP (Voice over Internet Protocol) product.

Lightyear’s Cloud-Based Voice Services offering allows small and medium-sized businesses (SMBs) to move beyond conventional telephony into the increasingly popular VoIP world.  The company’s business-grade VoIP offers a rapid and seamless integration from customers’ traditional PBX (Private Branch Exchange), Key or other existing telephone system.

“We are pleased to announce the launch of our new Hosted VoIP product, which further enhances our extensive product portfolio,” said Stephen M. Lochmueller, Chief Executive Officer of Lightyear.  “Hosted VoIP is in line with our strategic plan to offer cost-efficient and cutting-edge products, and it makes ‘the cloud’ an affordable and valuable resource for consumers in the SMB space.  It is a perfect offering for customers who not only are conducting domestic business, but are also dealing with the global community.  As many of our customers have one or more locations, VoIP offers a cost-effective solution to their telecom needs. This new offering is another example of products that we believe will enhance our organic growth and increase margins.”

Lightyear’s Hosted VoIP features numerous benefits for end-users, including lower system costs compared with traditional telephony; an enhanced and robust feature set; the flexibility and scalability to be easily changed to suit the customer’s needs; quick and easy installation; the reliability of a carrier-class network and state-of-the-art technology; and the ability to utilize fixed mobile convergence.

The product is ideal for the SMB sector that often lacks IT resources and does not wish to make a large capital investment in a phone system, and it is a perfect solution for businesses with multiple locations.

Lightyear’s Hosted VoIP provides its authorized agent partners a simple and attractive VoIP solution to push to customers in their selling areas across the nation.  The product’s many advantages for its agents include; automated service activation, zero-touch intelligent device configuration, firewall and security server, guaranteed VoIP readiness assessment, streamlined operational support, and automated web-based quote generation, among others.

“As a Lightyear agent, I am really excited about the company’s new Hosted VoIP offering,” said Phil Maxson, whose telecom agency Telos, LLC is based in Lexington, Ky.  “I expect to continue to see the migration from traditional telephone systems to VoIP offerings in the business community.  VoIP technology, particularly Hosted VoIP, offers a tremendous ROI with ‘hard’ and ‘soft’ savings for customers, in addition to having a wide range of features and options, including unified messaging and mobile convergence.  Hosted VoIP is a very attractive telecom solution for many of my clients.”