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Lumos Networks Corp.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2017 10-Q, filed Nov 8, 2017. Its latest SEC filing is a SC 13G/A from Feb 14, 2018.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Provides fiber-network data services, including Ethernet, wireless backhaul and transport, to carriers and enterprise customers.

How Did They Make Money?

Lumos earns fees for local service as it is provided and for carrier network access and data services. Some services are paid for in advance and provided over a service period.

FY2015 revenue

Who Were Their Customers?

Carriers and enterprise customers buy fiber data services through direct sales and carrier end-user channels; residential and small-business customers receive voice, internet and video over Lumos's local telephone networks.

Customers above 10% of revenue, FY2016
of revenue from one customer
FY2014: 10% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2015.

Operating income, FY2015
18% of revenue
▼ −28% vs FY2014 ($50.5M, 25%)
Net income, FY2015
5% of revenue
▼ −53% vs FY2014 ($21.5M, 11%)

How Were They Changing?

Since the FY2016 annual report
Latest quarter: Q3 FY2017, the three months to Sep 30, 2017
Revenue
▲ +7%
vs $51.8M in Q3 FY2016
Net income
▼ Now a loss
vs $1M in Q3 FY2016
  • Nov 17, 2017 EQT Infrastructure completed its acquisition of Lumos Stockholders received $18.00 in cash per share, and Lumos shares were removed from Nasdaq listing.

Held flat. Revenue was $204.3M in FY2015, about the same as the $207.4M of FY2011.

Broader market expansion The older report framed growth in Richmond and western Pennsylvania as edge-outs; the latest describes a separate expansion strategy in Richmond and Norfolk, while reserving edge-outs for nearby markets.

Who Did They Compete With?

Competes with AT&T, Verizon, Frontier, Windstream, CenturyLink, Level 3, Zayo, Comcast, Shentel, Cox, Time Warner Cable, and Suddenlink

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