Lightyear Network Solutions, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2012
Lightyear Network Solutions, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported revenues of $16,974,839 compared to $18,630,391 a year ago. Loss from operations was $491,742 compared to $581,430 a year ago. Loss before income taxes was $621,219 compared to $459,506 a year ago. Net loss was $621,219 compared to $335,706 a year ago. Loss attributable to common stockholders was $621,219 or $0.03 per basic and diluted share compared to $710,502 or $0.03 per basic and diluted share a year ago. EBITDA adjusted for non-cash stock based compensation was $250,629 compared to $80,731 a year ago. Cash generated from operations was approximately $537,000 compared with cash used in operations of approximately $462,000 in the year-ago first quarter.