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Lumos Networks reports profitable growth

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THE TAKE: Waynesboro-based Lumos Networks Corp., a fiber-based service provider of telecommunication services, reported second-quarter revenue of $52.3 million, up 3 percent from the same quarter last year, while adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) grew 16 percent.

Revenue: $52.3 million for the second quarter of 2013, up from $50.8 million in the second quarter of 2012.
Total adjusted EBITDA: $24.6 million, up from $21.1 million.
Diluted earnings per share:  22 cents, up from 13 cents.

“I continue to expect that Lumos Networks will deliver solid results in 2013 including year-over-year revenue growth and near double-digit EBITDA growth,” CEO Tim Biltz said in a statement.

In the third quarter of 2013, the company expects revenue to be about $52 million and adjusted EBITDA approximately $24 million. For the full year 2013, Lumos Networks expects its revenue to be approximately $208 million versus its prior guidance of $208 to $212 million and adjusted EBITDA to be approximately $97 million versus prior guidance for a range of $94 to $97 million.

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