Lumos adds 15,000 buildings to 'near-net' list
Lumos Networks has added 15,000 buildings to its "near-net" list, which means that fiber connectivity can be extended to the building without the need for a public right of way permit.
The company said that the list, which has been distributed to its national and regional carrier partners, significantly expands the firm's addressable market. That market includes on-net buildings, fiber-to-the-cell sites and connected data centers.
Lumos executives expect the list of near-net locations to give the company the opportunity to expand its market as well as monetize its fiber network through additional customer contracts.
During the first quarter, Lumos added 53 fiber route miles and now has a fiber route mile network of 7,467. In addition, the company added 43 on-net buildings in the quarter to reach a total of 1,387.
Lumos is working on a 53-mile long-haul route from Richmond to Charlottesville, Va., that is expected to be finished by the end of the second quarter.
At the end of the first quarter, Lumos' revenue was $50.1 million, down from $52.5 million in the first quarter of 2013 and $51 million in the fourth quarter of 2013.
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