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.”

LOUISVILLE, Ky., June 8, 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 launched its MVNO (Mobile Virtual Network Operator) operations under a new five-year agreement with Sprint.

The contract allows Lightyear to partner directly with Sprint on new wireless products, and provide postpaid and prepaid mobile telephone products and service utilizing the Nationwide Sprint Network.  The agreement provides numerous benefits for Lightyear, including a larger and improved selection of the newest Sprint wireless devices, quicker access to those products, greater flexibility regarding product and service offerings for Lightyear customers, and the ability to offer bundled Lightyear wireline and wireless products.
 
The MVNO agreement enables Lightyear to offer an enhanced suite of wireless products, while lowering its costs.  Lightyear’s sales force will immediately begin offering these enhanced services under the MVNO agreement to its more than 60,000 customers.
 
Lightyear recently initiated a marketing program to increase its commercial business activities, and this agreement with Sprint will enable the company to expand its efforts with new and existing business customers, including the availability to offer new solutions such as fixed mobile convergence.  The agreement will also provide benefits to residential customers who will have access to a broader selection of wireless handsets, including a number of phones with the increasingly popular Android operating system.
 
“We are pleased to announce the launch of our MVNO with Sprint, which has been a valuable Lightyear provider partner for a number of years,” said Stephen M. Lochmueller, Chief Executive Officer of Lightyear.  “This MVNO agreement will contribute to our long-term strategy to increase our organic growth.  We expect our wireless business to contribute to our growth and profitability in 2011, with increasing benefits in future years.”  
 
 
About Lightyear Network Solutions, Inc.
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 (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, 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.
 
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 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.

LOUISVILLE, KY,  May 13, 2011  -­‐Lightyear Network Solutions,  Inc. (OTCBB:LYNS),  a provider of  telecommunications services to business and residential customers throughout North America, local and long distance service, wireless services, conferencing, enhanced  Internet services and Voice over Internet Protocol (VoIP), today announced its financial results for the first quarter 2011 ended March 31, 2011.  Results for the first quarter of 2011 include Lightyear’s acquisition of SouthEast Telephone, which was completed on October 1, 2010.  

Financial highlights for the first quarter include:    
  

• Revenue of $18.6 million for the first quarter 2011 increased 65.3% from $11.3 million in the year-ago quarter;
• Gross profit of $6.6 million increased 80.7% over the first quarter 2010;
• Gross profit margins increased 300 basis points for the quarter to 35.4% from 32.4% in the year-ago quarter;
• Loss from operations reduced to $581 thousand from $930 thousand in the year-ago quarter;
• EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) improved to a loss of $161 thousand compared with an EBITDA loss of $870 thousand in the year-ago first quarter; Net loss of $336 thousand compared with a net loss of $1.3 million in the year-ago first quarter;
• Net loss to common stockholders, including $375 thousand of cumulative preferred stock dividends, was $711 thousand, and compared with a net loss of $1.3 million in the year-ago first quarter;
• Net loss per common share, including the cumulative preferred stock dividends, was $0.03 for the quarter, and compared with a net loss of $0.09 per share for the year-ago first quarter.

Stephen M. Lochmueller, CEO of Lightyear said, “Our results for the quarter were favorably impacted by our acquisition of SouthEast Telephone, which has already had a significant impact on our financial results on revenue and gross profit.  It provided us with additional network infrastructure that is enabling us to lower costs on our existing business.  We have already implemented a number of steps that will provide us the ability to lower our operating costs.  We expect to continue to see improvements in our operating efficiencies as we realize the full benefits of our integration with SouthEast Telephone.

Mr. Lochmueller continued, “We currently have approximately 60,000 customers with a significant concentration in 5 states, providing us strong regional customer concentrations in contiguous operating areas, along with operating efficiencies.  With a large number of customers in the rural markets, we believe we have a significant amount of upside potential to provide our portfolio of services.”

“While the first quarter has historically been our weakest quarter, we produced several positive results.  Since becoming a public company, this was our first year-over-year quarterly revenue growth in the core company, demonstrating that our sales and product approaches are correctly tuned for the market.  This improved revenue base provides us a good foundation for the remainder of the year.  Our first quarter was affected by several charges totaling approximately $477 thousand that were taken in the first quarter, and which we do not expect to recur,” he continued.

Mr. Lochmueller concluded, “We are pleased with our company’s progress and expect continued growth in 2011.”

About Lightyear Network Solutions, Inc.
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 (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, 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.
 
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 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. Click here to view the financial information related to this press release.

Mr. Lloyd has over 18 years of sales experience in the telecom industry, working in various leadership and sales management roles at carriers including Cingular, Nextel Communications and Cricket Communications.  Throughout his career, Mr. Lloyd has been a successful leader of sales efforts for agent, direct and retail channels.
 
“We’re pleased to announce the addition of Sean Lloyd to our team, and look forward to working closely with him to increase Lightyear’s organic growth,” said Stephen Lochmueller, CEO of Lightyear Network Solutions.  “Sean has an impressive track record of developing indirect and direct channels of distribution and leading them to exceeding sales goals.”
 
Mr. Lloyd stated, “Lightyear is in a unique position as it is one of the few companies that can offer wireline and wireless, data and voice products– virtually all communication services a customer may need, all on one bill.  With Lightyear’s emphasis on customer focus, I look forward to leading its sales efforts, increasing business, and maintaining the high level of customer and indirect partners’ satisfaction.”
 
Prior to joining Lightyear, Mr. Lloyd had served as District Director for Cricket Communications in Louisville, Kentucky, since 2006.  While at Cricket, he established both indirect and direct channels of distribution consistently exceeding sales expectations.  From 2002-2005 Mr. Lloyd was with Nextel Communications as District Manager, where he demonstrated an ability not only to secure customers but also to retain them as he exceeded planned net customer growth each year.
 
About Lightyear Network Solutions, Inc.
Through its wholly owned subsidiaries, Lightyear provides telecommunication services to businesses and residential customers 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, 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.
 
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 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.