Lumos Networks Down 8% After Missing Earnings Estimates

Shares of Lumos Networks

are down 8% after the company missed earnings estimates. The company today announced operating results for its fourth quarter and year 2011. Lumos Networks was separated from NTELOS Holdings Corp. through a spin-off effective after the close of business on October 31, 2011. Total revenue for the fourth quarter 2011 was $51.1 million, compared to $41.0 million for fourth quarter 2010. For the year 2011, total revenue was $207.4 million, compared to $146.0 for 2010. Total adjusted EBITDA was $23.0 million for the fourth quarter 2011, compared to $21.1 million in fourth quarter 2010, and $96.9 million for the year 2011 compared to $77.1 million for 2010. These reported results reflect the operations of FiberNet, which was acquired December 1, 2010. Proforma revenue for the year 2010 was $213.1 million.