Lumos Networks reported its third quarter 2015 numbers yesterday after the market closed. Revenues of $51.0M and earnings per share of $0.06 were each slightly higher and lower than analysts had projected, respectively. But the key thing to watch with Lumos is the growing amount of fiber in its diet.
The company added 308 route miles of fiber to its network during the quarter as well as 68 new enterprise buildings and 54 cell sites. They are still plugging away at a new fiber build around and between Richmond and Norfolk, with a wireless backhaul deal to give it an anchor client. They expect that to be mostly complete by the end of this year increasing the addressable market for their data segment revenues. That segment has been growing at about an 8% rate, offsetting legacy revenue churn.
Meanwhile, Lumos picked up a customer out in western Pennsylvania. David Davis Communications, a regional VAR, is moving into the company's colo facility in the town of Washington. From there they will offer hosted IT services to the western part of the state. Lumos has been investing to develop its Pennsylvania assets for a few years now.