Business & Finance
Business and Finance
Business and Finance
Thu, July 22, 2010 Lightyear Announces Multi-Year Contract with Fortune 1000 Global Plastics Manufacturer
LOUISVILLE, Ky.--([ BUSINESS WIRE ])--Lightyear Network Solutions, Inc. (OTCBB: LYNS) ([ www.lightyear.net ]), a provider of telecommunication services to large, medium and small businesses, as well as residential consumers throughout North America, announced the execution of a new multi-year contract with a global plastics manufacturer to install a variety of Lightyear products and services.
"Not only is Lightyear providing this client with many of the highest quality communications services available"
This engagement is expected to generate up to $3 million in annual recurring revenue from various Lightyear products including Dynamic T-1 (Voice Over Internet Protocol) as well as other voice and data solutions. The customer chose Lightyear as its preferred telecom provider because of the Companya™s ability to offer a variety of cutting-edge telecommunication services at each of the clienta™s multiple locations, on a single invoice and with one point of contact for problem resolution.
aNot only is Lightyear providing this client with many of the highest quality communications services available,a said Lightyear CEO J. Sherman Henderson III, abut equally important is the reduction in client administrative costs by eliminating the need to manage several network service providers, as well as the time and resources to process multiple invoices. Lightyear can manage all of their communications needs on a single, simplified invoice with one point of customer service contact.a
The Fortune 1000 plastics manufacturer is a leading, global manufacturer of injection-molded plastics packaging, thermoformed products, flexible films and tapes and coating. With more than 70 plants around the world and 23 facilities in North America, the client utilizes state-of-the-art technology and efficient injection molding equipment that result in higher productivity, better quality and faster delivery of finished consumer and commercial-grade plastic products.
Mr. Henderson continued, aWe have successfully commenced installation of services at several of the clienta™s locations. Initial feedback has been positive and the client has expressed appreciation for the professional management and efficient execution of the project by the Lightyear team. We look forward to installing our industry-leading services at their remaining locations, as well as the opportunity to work with this global manufacturer on future projects as they continue to grow their presence in North America and around the world.a
Lightyear announced on July 2, 2010 that an agreement has been executed to acquire the assets of SouthEast Telephone, Inc, a Kentucky-based telecommunications provider. SouthEasta™s 2009 revenue was approximately $37.5 million and it currently has approximately 150 employees and 33,000 customers. The transaction is expected to close on or about October 1, 2010, subject to the fulfillment or waiver of certain conditions.
About Lightyear Network Solutions, Inc.
Through its wholly owned subsidiary, Lightyear Network Solutions, LLC, Lightyear provides telecommunication services to large, medium and small businesses and to residential consumers throughout North America utilizing its extensive network of independent agents and representatives. J.Sherman Henderson III, Lightyeara™s Chief Executive Officer, has nearly 25 years experience in the telecommunications industry. Henderson was named one of the Top 25 Most Influential People in Telecommunications and was elected for six consecutive terms as Chairman of COMPTEL, the leading industry association representing more than 250 service providers. Lightyeara™s product and service offerings include: local PRI and digital T1, enhanced internet services, frame relay, MPLS, Point-to-Point, Voice over Internet Protocol (VoIP), local and long distance, calling cards, and conferencing. Lightyear has also begun offering wireless services to customers in the U.S. through wholesale contracts with multiple wireless voice and data service providers. Lightyear built its own VoIP network in 2004 to enhance its product offerings to its customers and has partnered with some of the most prominent names in telecom including: Sprint, Verizon, AT&T, Qwest, Level 3, PAETEC, CenturyLink, Intelliverse, Globys, 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 Lightyeara™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.
