8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 28, 2013

Lumos Networks Corp.

(Exact Name of Registrant as Specified in Charter)

Delaware	001-35180	80-0697274
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

One Lumos Plaza, P.O. Box 1068, Waynesboro, Virginia 22980

(Address of Principal Executive Offices) (Zip Code)

(540) 946-2000

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On February 28, 2013, Lumos Networks Corp. issued a press release announcing its results of operations and financial condition for 2012 and financial guidance for 2013. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 7.01 Regulation FD Disclosure.

Copies of the materials that Lumos Networks Corp. will present in connection with upcoming presentations to investors are furnished as Exhibit 99.2 and Exhibit 99.3 to this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.2 and Exhibit 99.3, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing. The information in this Report will not be deemed as an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press release issued by Lumos Networks Corp. dated February 28, 2013
99.2	Investor Presentation – Fourth Quarter 2012 Update
99.3	2011-2012 Revenue Reclassification Schedule

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 28, 2013

LUMOS NETWORKS CORP.
By:	/s/ Harold L. Covert
Executive Vice President, Chief Financial Officer and Treasurer

3

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release issued by Lumos Networks Corp. dated February 28, 2013
99.2	Investor Presentation – Fourth Quarter 2012 Update
99.3	2011-2012 Revenue Reclassification Schedule

4

EX-99.1

Exhibit 99.1

Contact:	Will Davis
	Director of Investor Relations
	Phone: (o) 540-946-6930; (c) 917-519-6994
	Email: davisw@lumosnet.com

Lumos Networks Corp. Reports Fourth Quarter 2012 Financial Results

Year over Year Growth in 4Q12 Revenue and Adjusted EBITDA

Strategic Data Revenue was 52% of Total 4Q12 Revenue and Grew 5% Sequentially

Adjusted EBITDA Margins Expand for Second Consecutive Quarter to 44.1%

Cash Dividend of $0.14 per Share Declared

WAYNESBORO, VA – February 28, 2013 – Lumos Networks Corp. (“Lumos Networks” or “the Company”) (Nasdaq: LMOS), a fiber-based service provider of data, voice and IP-based telecommunication services in the Mid-Atlantic region, today announced financial results for its fourth quarter of 2012.

Total revenue for the fourth quarter of 2012 was $52.7 million, compared to $51.1 million for the fourth quarter of 2011 and $52.0 million in the third quarter of 2012. Total adjusted EBITDA was $23.2 million for the fourth quarter of 2012, compared to $23.0 million in the fourth quarter of 2011 and to $22.3 million in the third quarter of 2012.

“Our strong execution continued in the fourth quarter as our Strategic Data revenue grew 5% sequentially and represented 52% of total sales, up from 50% in the prior quarter”, said Tim Biltz, CEO and President of Lumos Networks. “Our Strategic Data revenue grew 17% from the same quarter in the prior year, which is the third straight quarter of accelerating revenue growth for this product segment.”

“Our adjusted EBITDA margins reached 44.1%, marking the second straight quarter of sequential margin improvements, and we are making clear progress towards our longer term margin target of 47%,” Mr. Biltz continued. “I view this quarter’s results as a true inflection point in our operating results and I am confident that our current momentum will carry through 2013.”

Highlights

• During the fourth quarter of 2012, the Company exceeded its targeted installation goals and more than doubled the number of fiber to the cell (“FTTC”) installations from 148 as of December 31, 2011 to 370 as of December 31, 2012.

• In 2012, the Company achieved its goal of ensuring that 75% of total capital expenditures were for success-based strategic data projects in its Enterprise and Carrier Data customer segments as compared to less than 50% in 2011.

• Adjusted EBITDA margins were 44.1% in the fourth quarter, up sequentially for the second consecutive quarter in a row, from 41.5% in second quarter and 42.9% in the third quarter of 2012.

• On February 27, 2013, the Board of Directors of Lumos Networks Corporation declared a dividend on its common stock in the amount of $0.14 per share to be paid on April 11, 2013 to stockholders of record on March 13, 2013.

Business Outlook

The Company introduced financial guidance for the first quarter and full year of 2013. In the first quarter of 2013, the Company expects revenue to be approximately $52 million and adjusted EBITDA approximately $23 million. For the full year 2013, the Company expects revenue to be in the range of $208 to $212 million and adjusted EBITDA in the range of $94 to $97 million. During the first half of 2013, the Company plans to explore bank financing options to adequately fund our success-based Strategic Data growth plans over the next several years.

Please see the schedules accompanying this release for additional financial guidance, including projected 2013 cash flows and non-GAAP reconciliations.

Statements made are based on management’s current expectations. These statements are forward-looking and actual results may differ materially. Please see “Special Note from the Company Regarding Forward-Looking Statements.”

Conference Call

A conference call and simultaneous webcast, hosted by Timothy G. Biltz, CEO, Harold L. Covert, CFO, and Will Davis, Director of Investor Relations, to review these financial and operational results and financial guidance will be held at 8:30 A.M. (ET) on February 28, 2013.

The webcast may be accessed via the Internet at http://ir.lumosnetworks.com/ and the live call (“Lumos Networks Fourth Quarter 2012 Earnings Conference Call”) may be accessed with the following numbers:

Domestic: 1-888-317-6016

International: 1-412-317-6016

Canada: 1-855-669-9657

The conference call will be archived and available for replay through March 13, 2013 before 9:00 A.M. (ET) and may be accessed with the following numbers:

Domestic: 1-877-344-7529

International: 1-412-317-0088

Replay pass codes: Conference ID: 10024524

The webcast will also be archived and the replay may be accessed at http://ir.lumosnetworks.com/.

About Lumos Networks

Lumos Networks is a fiber-based service provider in the Mid-Atlantic region serving carrier, business and residential customers over a dense fiber network offering data, voice and IP services. With headquarters in Waynesboro, VA, Lumos Networks serves Virginia, West Virginia and portions of Pennsylvania, Kentucky, Ohio, and Maryland over a fiber network of 5,800 long haul miles. Detailed information about Lumos Networks is available at www.lumosnetworks.com.

Non-GAAP Measures

Adjusted EBITDA is defined as net income attributable to Lumos Networks before interest, income taxes, depreciation and amortization, accretion of asset retirement obligations, net income attributable to noncontrolling interests, other expenses/income, equity based compensation charges, acquisition related charges, amortization of actuarial losses on retirement plans, employee separation charges, restructuring related charges, gain or loss on settlements and gain or loss on interest rate derivatives.

Adjusted EBITDA is a non-GAAP financial performance measure. It should not be considered in isolation or as an alternative to measures determined in accordance with GAAP. Please refer to the exhibits and materials posted on the Lumos Networks website for a reconciliation of these non-GAAP financial performance measures to the most comparable measures reported in accordance with GAAP and for a discussion of the presentation, comparability and use of such financial performance measures.

SPECIAL NOTE FROM THE COMPANY REGARDING FORWARD-LOOKING STATEMENTS

Any statements contained in this presentation that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. The words “anticipates,” “believes,” “expects,” “intends,” “plans,” “estimates,” “targets,” “projects,” “should,” “may,” “will” and similar words and expressions are intended to identify forward-looking statements. Such forward-looking statements reflect, among other things, our current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. We do not undertake any obligation to update or review any forward-looking information, whether as a result of new information, future events or otherwise. Important factors with respect to any such forward-looking statements, including certain risks and uncertainties that could cause actual results to differ from those contained in the forward-looking statements, include, but are not limited to: rapid development

and intense competition in the telecommunications industry; our ability to achieve benefits from our separation from NTELOS Holdings Corp; our ability to offset expected revenue declines in our Competitive business from legacy voice products and in our RLEC business related to the recent regulatory developments and carriers grooming their networks; adverse economic conditions; operating and financial restrictions imposed by our senior credit facility; our cash and capital requirements; declining prices for our services; the potential to experience a high rate of customer turnover; federal and state regulatory fees, requirements and developments; our reliance on certain suppliers and vendors; and other unforeseen difficulties that may occur. These risks and uncertainties are not intended to represent a complete list of all risks and uncertainties inherent in our business, and should be read in conjunction with the more detailed cautionary statements and risk factors included in our SEC filings, including our Annual Reports filed on Forms 10-K.

Exhibits:

• Condensed Consolidated Balance Sheets

• Condensed Consolidated Statements of Operations

• Condensed Consolidated Statements of Cash Flows

• Summary of Operating Results, Customer and Network Statistics

• Reconciliation of Net Income Attributable to Lumos Networks Corp. to Operating Income

• Reconciliation of Operating Income to Adjusted EBITDA

• Business Outlook

Lumos Networks Corp.

Condensed Consolidated Balance Sheets

	December 31, 2012		December 31, 2011
(In thousands)
ASSETS
Current Assets
Cash	$	2	$	10,547
Restricted cash 1		5,303		7,554
Accounts receivable, net		22,676		23,555
Other receivables		2,400		2,390
Income tax receivable		954		—
Prepaid expenses and other		5,136		2,278
Total Current Assets		36,471		46,324
Securities and investments		462		128
Property, plant and equipment, net		336,589		299,958
Other Assets
Goodwill		100,297		100,297
Other intangibles, net		34,895		45,696
Deferred charges and other assets		4,448		6,197
Total Other Assets		139,640		152,190
Total Assets	$	513,162	$	498,600
LIABILITIES AND EQUITY
Current Liabilities
Current portion of long-term debt	$	7,900	$	2,679
Accounts payable		17,453		12,432
Dividends payable		3,013		2,980
Advance billings and customer deposits		13,527		12,623
Accrued compensation		1,742		2,832
Accrued operating taxes		3,838		2,624
Other accrued liabilities		6,284		3,262
Total Current Liabilities		53,757		39,432
Long-Term Liabilities
Long-term debt		304,325		323,897
Retirement benefits		30,413		35,728
Deferred income taxes		55,956		41,204
Other long-term liabilities		3,500		5,028
Income tax payable		609		484
Total Long-term Liabilities		394,803		406,341
Stockholders’ Equity		64,050		52,383
Noncontrolling Interests		552		444
Total Equity		64,602		52,827
Total Liabilities and Equity	$	513,162	$	498,600

¹  During 2010, the Company received a Federal stimulus award providing 50% funding to bring broadband services and infrastructure to Alleghany County, Virginia. The Company was required to deposit 100% of its grant ($8.1 million) into pledged accounts in advance of any reimbursements, to be drawn down ratably following reimbursement approvals.

Lumos Networks Corp.

Condensed Consolidated Statements of Operations

	Three months ended:						Year ended:
(In thousands, except per share amounts)	December 31, 2012			December 31, 2011			December 31, 2012			December 31, 2011
Operating Revenues	$	52,679		$	51,107		$	206,871		$	207,414
Operating Expenses 1
Cost of sales and services (exclusive of items shown separately below)		20,601			19,584			80,520			78,484
Customer operations		5,440			4,773			21,886			19,551
Corporate operations 2,3		5,168			5,341			23,615			16,251
Depreciation and amortization		11,211			10,187			38,884			43,090
Asset impairment charge		—			86,295			—			86,295
Accretion of asset retirement obligations		31			31			124			116
Restructuring charges 4		2,981			—			2,981			—
Gain on settlements, net 5		—			—			(2,335	)		—
Total Operating Expenses, net		45,432			126,211			165,675			243,787
Operating Income (Loss)		7,247			(75,104	)		41,196			(36,373	)
Other Income (Expenses)
Interest expense		(2,941	)		(3,153	)		(11,921	)		(11,993	)
Loss on interest rate derivatives		(1,343	)		—			(1,898	)		—
Other income, net		26			32			81			105
Income (Loss) Before Income Tax Expense		2,989			(78,225	)		27,458			(48,261	)
Income Tax Expense (Benefit)		1,025			(16,527	)		11,010			(4,383	)
Net Income (Loss)		1,964			(61,698	)		16,448			(43,878	)
Net (Income) Loss Attributable to Noncontrolling Interests		(28	)		35			(108	)		(52	)
Net Income (Loss) Attributable to Lumos Networks Corp.	$	1,936		$	(61,663	)	$	16,340		$	(43,930	)
Basic and Diluted Earnings (Loss) per Common Share Attributable to Lumos Networks Corp. Stockholders:
Earnings (loss) per share - basic 6	$	0.09		$	(2.96	)	$	0.78		$	(2.11	)
Earnings (loss) per share - diluted 6	$	0.09		$	(2.96	)	$	0.76		$	(2.11	)
Weighted average shares outstanding - basic		21,047			20,815			20,958			20,815
Weighted average shares outstanding - diluted		21,517			20,815			21,407			20,815
Cash Dividends Declared per Share - Common Stock	$	0.14		$	0.14		$	0.56		$	0.14

¹  Includes equity-based compensation charges related to all of the Company’s share-based awards and the Company’s 401(k) matching contributions of $1.0 million and $0.2 million for the three months ended December 31, 2012 and 2011, respectively, and $3.9 million and $2.4 million for the years ended December 31, 2012 and 2011, respectively.

²  Includes amortization of actuarial losses related to certain retirement benefit plans of $0.4 million and $1.8 million for the three and twelve-month periods ended December 31, 2012, respectively. The amounts allocated to us from our former parent for amortization of actuarial losses for periods prior to the Business Separation on October 31, 2011 were not material.

³  In 2012, the Company recorded charges of $2.3 million related to the recognition of employee separation benefits which were provided for in the employment agreements of two executive officers who left the Company in April and December 2012.

⁴  In December 2012, the Company completed a cost reduction plan involving an employee reduction-in-force, consolidation of certain facilities and freezing the accumulation of benefits under certain postretirement plans. Restructuring charges of $3.0 million were recognized in the fourth quarter of 2012 in connection with this plan, $2.4 million of which related to employee severance and termination benefits and $0.6 million of which related to lease termination costs.

⁵  The Company recognized a net pre-tax gain of approximately $2.3 million in the third quarter of 2012 in connection with the settlement of outstanding matters related to a prior acquisition and the settlement of an outstanding lawsuit.

⁶  Basic and diluted earnings (loss) per share for the three and twelve months ended December 31, 2011 is computed by dividing net loss for the period by the weighted average number of common shares outstanding during the two month period beginning November 1, 2011 (the date upon which we became an independent publicly traded company) and ending December 31, 2011.

Lumos Networks Corp.

Condensed Consolidated Statements of Cash Flows

	Year ended:
(In thousands)	December 31, 2012			December 31, 2011
Cash flows from operating activities
Net income (loss)	$	16,448		$	(43,878	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation		27,750			27,703
Amortization		11,134			15,387
Accretion of asset retirement obligations		124			116
Asset impairment charge		—			86,295
Deferred income taxes		10,514			(8,110	)
Loss on interest rate swap derivatives		1,898			—
Equity-based compensation expense		3,912			2,383
Amortization of loan origination costs		812			132
Gain on settlement		(3,035	)		—
Retirement benefits, net of contributions and distributions		665			(4,059	)
Excess tax benefits from share-based compensation		(428	)		—
Changes in operating assets and liabilities, net		2,421			6,939
Net cash provided by operating activities		72,215			82,908
Cash flows from investing activities
Purchases of property, plant and equipment		(59,881	)		(61,536	)
Broadband network expansion funded by stimulus grant		(1,351	)		(2,248	)
Proceeds from disposal of managed services business		750			—
Change in restricted cash		2,251			508
Cash reimbursement received from broadband stimulus grant		2,251			508
Purchase of tradename asset		(333	)		—
Other		(26	)		—
Net cash used in investing activities		(56,339	)		(62,768	)
Cash flows from financing activities
Proceeds from issuance of long-term debt		—			310,000
Proceeds from issuance of revolving credit facility		—			30,000
Payment of debt issuance costs		—			(4,854	)
Cash paid to NTELOS Inc. associated with the Business Separation		—			(315,000	)
Payments on senior secured term loans		(2,000	)		(500	)
Payments on revolving credit facility, net		(11,478	)		(15,000	)
Cash dividends paid on common stock		(11,951	)		—
Payments to NTELOS Inc., net		—			(14,357	)
Payments under capital lease obligations		(1,542	)		(317	)
Proceeds from employee stock purchase plan		122			—
Excess tax benefits from share-based compensation		428			—
Other		—			(54	)
Net cash used in financing activities		(26,421	)		(10,082	)
(Decrease) increase in cash		(10,545	)		10,058
Cash:
Beginning of period		10,547			489
End of period	$	2		$	10,547

Lumos Networks Corp.

Operating Results, Customer and Network Statistics

(Dollars in thousands)	Three months ended:															Year ended:
	December 31, 2012			September 30, 2012			June 30, 2012			March 31, 2012			December 31, 2011			December 31, 2012			December 31, 2011
Competitive Revenue and Adjusted EBITDA
Revenue
Enterprise Data		9,628			9,448			9,039			8,667			8,437			36,782			33,131
Carrier Data		13,025			11,955			11,196			10,937			10,506			47,113			37,649
IP Services		4,754			4,718			4,684			4,587			4,515			18,743			17,401
Total Strategic Data		27,407			26,121			24,919			24,191			23,458			102,638			88,181
Legacy Voice		10,703			11,244			11,509			12,010			12,825			45,466			54,414
Access		1,948			2,413			2,540			2,715			2,758			9,616			11,802
Total Revenue		40,058			39,778			38,969			38,915			39,042			157,720			154,397
Adjusted EBITDA 1		14,652			14,440			14,078			14,548			15,034			57,718			62,098
Adjusted EBITDA %		36.6	%		36.3	%		36.1	%		37.4	%		38.5	%		36.6	%		40.2	%
RLEC Revenue and Adjusted EBITDA
Revenue
Legacy Voice		4,883			4,874			4,710			4,756			4,937			19,223			20,039
Access		7,738			7,325			7,125			7,740			7,129			29,928			32,978
Total Revenue		12,621			12,199			11,835			12,496			12,066			49,151			53,017
Adjusted EBITDA 1		8,559			7,841			7,028			7,743			7,970			31,171			34,842
Adjusted EBITDA %		67.8	%		64.3	%		59.4	%		62.0	%		66.1	%		63.4	%		65.7	%
Consolidated
Revenue
Strategic Data		27,407			26,121			24,919			24,191			23,458			102,638			88,181
Legacy Voice		15,586			16,118			16,219			16,766			17,762			64,689			74,453
Access		9,686			9,738			9,665			10,455			9,887			39,544			44,780
Total Revenue		52,679			51,977			50,803			51,412			51,107			206,871			207,414
Adjusted EBITDA 1		23,211			22,281			21,106			22,291			23,004			88,889			96,940
Adjusted EBITDA %		44.1	%		42.9	%		41.5	%		43.4	%		45.0	%		43.0	%		46.7	%
Capital Expenditures		15,956			14,937			11,619			17,369			12,722			59,881			61,536
Adjusted EBITDA less Capital Expenditures		7,255			7,344			9,487			4,922			10,282			29,008			35,404
Customer and Network Statistics
Customer Statistics
Competitive voice connections 2		110,261			112,709			114,930			117,965			122,046			110,261			122,046
RLEC Broadband Customers 3		15,181			15,199			15,258			15,100			14,916			15,181			14,916
Total Broadband Connections 3		39,950			40,401			37,361			35,974			35,707			39,950			35,707
Video Subscribers		4,549			4,390			4,192			4,019			3,734			4,549			3,734
Network Statistics
On-Network Buildings 4		1,196			1,150			1,091			1,066			1,051			1,196			1,051
Fiber to the Cell Sites 4		370			261			178			155			148			370			148
RLEC Total Access Lines		31,203			31,708			32,272			32,676			33,193			31,203			33,193

¹  Adjusted EBITDA is a non-GAAP measure. See definition on page 2 of this earnings release.

²  Includes customer Primary Rate Interface (PRI) line equivalents at 23 lines per PRI. Excludes intercompany PRI lines.

³  Includes customers or customer equivalents for DSL, dedicated Internet access, wireless portable broadband, broadband over fiber and metro Ethernet. All revenues from broadband products, including RLEC broadband, are recorded in the operating revenues of the Competitive segment.

⁴  Includes statistics for legacy markets only, excluding FiberNet, through December 31, 2012.

Note: Certain amounts have been reclassified to agree with current year presentation.

Lumos Networks Corp.

Reconciliation of Net Income Attributable to Lumos Networks Corp. to Operating Income

(In thousands)
	Three months ended:						Year ended:
	December 31, 2012			December 31, 2011			December 31, 2012			December 31, 2011
Net income (loss) attributable to Lumos Networks Corp.	$	1,936		$	(61,663	)	$	16,340		$	(43,930	)
Net income (loss) attributable to noncontrolling interests		28			(35	)		108			52
Net income (loss)		1,964			(61,698	)		16,448			(43,878	)
Interest expense		2,941			3,153			11,921			11,993
Loss on interest rate derivatives		1,343			—			1,898			—
Income tax expense (benefit)		1,025			(16,527	)		11,010			(4,383	)
Other income, net		(26	)		(32	)		(81	)		(105	)
Operating income (loss)	$	7,247		$	(75,104	)	$	41,196		$	(36,373	)
Competitive		4,428			6,678			25,257			29,955
RLEC		2,819			(81,782	)		15,939			(66,328	)
Operating income (loss)	$	7,247		$	(75,104	)	$	41,196		$	(36,373	)

Lumos Networks Corp.

Reconciliation of Operating Income to Adjusted EBITDA

(Dollars in thousands)	2012									2011
	Competitive			RLEC			Total			Competitive			RLEC			Total
For The Three Months Ended December 31
Operating Income (Loss)	$	4,428		$	2,819		$	7,247		$	6,678		$	(81,782	)	$	(75,104	)
Depreciation and amortization and accretion of asset retirement obligations		7,146			4,096			11,242			7,196			3,021			10,217
Sub-total:		11,574			6,915			18,489			13,874			(78,761	)		(64,887	)
Asset impairment charge		—			—			—			—			86,295			86,295
Amortization of actuarial losses		334			111			445			—			—			—
Equity based compensation		757			268			1,025			140			97			237
Acquisition related charges		—			—			—			1			—			1
Business separation charges		—			—			—			1,019			339			1,358
Employee separation charges 1		203			68			271			—			—			—
Restructuring charges 2		1,784			1,197			2,981			—			—			—
Adjusted EBITDA	$	14,652		$	8,559		$	23,211		$	15,034		$	7,970		$	23,004
Adjusted EBITDA Margin		36.6	%		67.8	%		44.1	%		38.5	%		66.1	%		45.0	%
For The Year Ended December 31
Operating Income (Loss)	$	25,257		$	15,939		$	41,196		$	29,955		$	(66,328	)	$	(36,373	)
Depreciation and amortization and accretion of asset retirement obligations		26,439			12,569			39,008			29,579			13,627			43,206
Sub-total:		51,696			28,508			80,204			59,534			(52,701	)		6,833
Asset impairment charge		—			—			—			—			86,295			86,295
Amortization of actuarial losses		1,336			445			1,781			—			—			—
Equity based compensation		2,895			1,017			3,912			1,474			909			2,383
Acquisition related charges		—			—			—			71			—			71
Business separation charges		—			—			—			1,019			339			1,358
Employee separation charges 1		1,759			587			2,346			—			—			—
Restructuring charges 2		1,784			1,197			2,981			—			—			—
Gain on settlements, net 3		(1,752	)		(583	)		(2,335	)		—			—			—
Adjusted EBITDA	$	57,718		$	31,171		$	88,889		$	62,098		$	34,842		$	96,940
Adjusted EBITDA Margin		36.6	%		63.4	%		43.0	%		40.2	%		65.7	%		46.7	%

¹  In 2012, the Company recorded charges of $2.3 million related to the recognition of employee separation benefits which were provided for in the employment agreements of two executive officers who left the Company in April and December 2012.

²  In the fourth quarter of 2012, the Company completed a cost reduction plan involving an employee reduction-in-force, consolidation of certain facilities and freezing the accumulation of benefits under certain postretirement plans. Restructuring charges of $3.0 million were recognized in the fourth quarter in connection with this, of which $2.4 million was related to employee severance and termination benefits and $0.6 million was related to lease termination costs.

³  The Company recognized a net pre-tax gain of approximately $2.3 million in the third quarter of 2012 in connection with the settlement of outstanding matters related to a prior acquisition and the settlement of an outstanding lawsuit.

Lumos Networks Corp.

Business Outlook ¹(as of February 28, 2013)

(In millions)	2013 Guidance 1
	First Quarter 2013		2013 Annual
Operating Revenues	approximately $	52	$208 to $212
Adjusted EBITDA	approximately $	23	$94 to $97
Capital Expenditures	approximately $	16	$65 to $70
Reconciliation of Operating Income to Adjusted EBITDA
Operating Income	approximately $	11	$44 to $46
Depreciation and amortization	approximately $	10	40 to 41
Equity based compensation charges	approximately $	2	8
Amortization of actuarial losses			2
Adjusted EBITDA	approximately $	23	$94 to $97

Lumos Networks Corp.

Projected Cash Flows for the Year 2013 ¹

(Dollars in millions)
Adjusted EBITDA 2	$	96
Less: Capital expenditures		(65	)
		31
Less:
Cash interest, net of interest income		(14	)
Cash taxes		(6	)
Cash flows, net, before dividends and debt payments		11
Less:
Cash dividends: $0.14 per share per quarter 3		(12	)
Scheduled 2013 debt payments		(3	)
Plus:
Other, net		(7	)
Projected Cash Flows, net 4	$	(11	)

¹  These estimates are based on management’s current expectations. These estimates are forward-looking and actual results may differ materially. Please see “Special Note from the Company Regarding Forward-Looking Statements” in the Lumos Networks Corp. fourth quarter 2012 earnings release dated February 28, 2013.

²  Based on the mid-point of the above guidance range.

³  Represents the most recent cash dividend paid, annualized. Dividend payments are reviewed quarterly by the board of directors and are subject to change.

⁴  Before discretionary payments to the credit facility Revolver loan and changes to working capital.

EX-99.2

Company Presentation

February 2013

Exhibit 99.2

Use of Non-GAAP Financial Measures

Included in this presentation are certain non-GAAP financial measures that are not determined in accordance with US generally

accepted accounting principles.  These financial performance measures are not indicative of cash provided or used by operating

activities and exclude the effects of certain operating, capital

and financing costs and may differ from comparable information

provided by other companies, and they should not be considered in isolation, as an alternative to, or more meaningful than measures

of financial performance determined in accordance with US generally accepted accounting principles.  These financial performance

measures are commonly used in the industry and are presented because Lumos Networks Corp. believes they provide relevant and

useful information to investors.  The Company utilizes these financial performance measures to assess its ability to meet future

capital expenditure and working capital requirements, to incur indebtedness if necessary, and to fund continued growth.  Lumos

Networks Corp. uses these financial performance measures to evaluate the performance of its business, for budget planning

purposes and as factors in its employee compensation programs. Included in this presentation are unaudited product group revenue

slides that reflect management’s view of product revenues as they will be measured in 2013. The

associated 2012 revenues are an

unaudited reclassification of 2012 revenues that were prepared to allow the user to perform trending analyses  on a go forward basis.

Special Note Regarding Forward-Looking Statements

Any statements contained in this presentation that are not statements of historical fact, including statements about our beliefs

and

expectations, are forward-looking statements and should be evaluated as such. The words “anticipates,”

“believes,”

“expects,”

“intends,”

“plans,”

“estimates,”

“targets,”

“projects,”

“should,”

“may,”

“will”

and similar words and expressions are intended to

identify forward-looking statements. Such forward-looking statements reflect, among other things, our current expectations, plans and

strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may

cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks

are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue

reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. We

do not undertake any obligation to update or review any forward-looking information, whether as a result of new information, future

events or otherwise. Important factors with respect to any such forward-looking statements, including certain risks and uncertainties

that could cause actual results to differ from those contained in the forward-looking statements, include, but are not limited to: rapid

development and intense competition in the telecommunications industry; our ability to achieve benefits from our separation from

NTELOS Holdings Corp; our ability to offset expected revenue declines in our Competitive business from legacy voice products and

in

our RLEC business related to the recent regulatory developments and carriers grooming their networks; adverse economic conditions;

operating and financial restrictions imposed by our senior credit facility; our cash and capital requirements; declining prices for our

services; the potential to experience a high rate of customer turnover; federal and state regulatory fees, requirements and

developments; our reliance on certain suppliers and vendors; and

other unforeseen difficulties that may occur. These risks and

uncertainties are not intended to represent a complete list of all risks and uncertainties inherent in our business, and should be read in

conjunction with the more detailed cautionary statements and risk factors included in our SEC filings, including our Annual Reports

filed on Forms 10-K.

1

2

Value creation for our customers enhances value

for our shareholders.

Lumos Networks provides next-

generation communication solutions

and personalized service to customers

over an advanced fiber network

2

3

Diversified revenue stream served over a dense fiber network

Key Events

•

Oct. 31, 2011 –

Spin from NTELOS

•

2012 New leadership team

•

4Q12  YoY Overall Revenue Growth

•

Strategic Data > 52% of revenue

•

2nd Quarter of Margin Expansion

Customers and Markets

•

1,500 Major business customers

•

Relationships with all major carriers

Products

•

Enterprise

Data

–

Metro

E,

Internet

•

Carrier Data -

up to 10Gig+

•

IP Services –

Fiber BXL, Video, VoIP

Network

•

5,800 Long Haul Fiber Network miles

•

370 FTTC (“Fiber to the Cell”)

installations

•

Interconnection to all major data

centers in region

People

•

Diversified and experienced

leadership team

•

400 sales and support personnel

deployed across the region

•

Deep technical expertise

•

Industry leading customer care

3

Highlights

Strong Management

Team

Experienced leadership team

Diverse operational background: Telecom, Wireless and

Technology

Attractive Revenue

Growth Opportunity

Significant growth available in existing markets

Edge out potential with unique network footprint

Margin Expansion

Increasing mix of high margin Strategic Data products

Leverage existing infrastructure

Efficient Capital

Management

Investments focused on Strategic Data initiatives

Balanced Revenue Mix Enterprise and Carrier

Disciplined success based capital approach

Delight Customers

Top Tier SLA standards

In Market support teams

4

Executive Management with Deep Industry Experience

Tim Biltz

Chief Executive Officer/Joined April 2012

20+ years of operating experience as Chairman of iPCS, COO of

Spectrasite, COO of Vanguard Cellular Systems

Harold Covert

Chief Financial Officer/October 2011

30+ years of experience with technology and telecommunications

companies as CFO of six publicly traded companies

Joe McCourt

Chief Revenue Officer/May 2012

25+ years of experience in wholesale and enterprise sales in TW

Telecom, Level 3, Dukenet, Zayo Networks, and 1901 Group

Joti Balanti

Vice President of Marketing/January 2013

15+ years experience at AT&T Business Services, AboveNet, most

recently as Director of Cloud Services at Zayo

Craig Drinkhall

Diego Anderson

Vice President Product Mgmt and Engineering/February 2012

20+ years experience as Senior VP of Product Delivery and Emerging

Opportunities at Level 3 Communications, Adelphia and TelCove

Vice President of Operations/October 2011

20+ years of operational and technical experience with Sprint,

NTELOS and Lumos

5

70% of internet access will come from

mobile devices

Increase in networked devices 2013-

2016

Enabling rapid growth in rich media

Access to cloud services

Exponential Growth in Data and Devices…

Applications and devices generating

constant streams of data

Enterprises capturing and processing

data :

Customers

Products

Transactions

Operations

Digitization of records

Increasing use of:

Cloud and data center storage

Back-up file protection and

security

Source:

Industry reports, Wall Street Research

Big Data

Proliferation of Networked Devices

“90% of the world’s data has been created

in the last  2 years”

Source: Mark Hurd, Oracle Open World 2012. 

6

($bn)

600

500

400

300

200

100

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

PC

Smartphone

Tablet

Global Consumer Electronic Consumption

Source: Cisco VNI June 2012

Business IP traffic to grow 2.5-fold from

2011 to 2016 or CAGR of 20%

Mix of Business Data from mobile devices

increases from 4% to 19%

Enterprise Cloud Spending grows 12.5X  from

2011 to 2016 with 35-45% telecom

Source:

Oppenheimer & Co Estimates

Source: Cisco VNI June 2012

7

20,000

15,000

10,000

5,000

0

2011

2012

2013

2014

2015

2011

2012

2013

2014

2015

2016

Business and IP Traffic

Mobile % Business Traffic

100%

80%

60%

40%

20%

0%

…Driving Demand for Connectivity and Speed

U.S. Business IP Traffic

More Cloud, More Mobility

Next-generation network solutions

Enterprise Data

•

Ethernet connectivity among multiple locations

•

Dedicated Internet connections

•

Speeds of 1.5M to 10 Gbps

IP Services

•

IP-enabled products that combines voice and data services

•

Enables advanced features and dynamic bandwidth

•

Broadband XL high speed Internet over fiber over for 100M+

Carrier Data

•

IP-based Ethernet transport

•

Fiber connectivity to cell sites  to support 4G growth

•

High-bandwidth transport  (OC-X and wavelengths)

8

9

Enterprise Data enables networking and addresses

future growth needs

Attractive Available Markets

Ethernet represents a disproportionate

share of the overall telecom growth with

overall growth 3-4% and TDM flat to

declining  

Enterprise Ethernet Demand growth

45%+ annually

Ethernet market has 50% at speeds of

100Mbps or below

Fastest growth segment of Ethernet is

100Mbps+ with 24% looking for speeds

at 1Gig +

9

Edge Out

Markets

Markets

Current

2012

Future

Current Share ~ 10%

Source:  Heavy Reading Study 2012, Oracle Openworld

10

Customer Demand Drives Growth

Education Customer

Started with several data

circuits -

$11K monthly

recurring charge (“MRC”)

Expanded into IP based

services –

Bandwidth to

data centers + IP voice

MRC now $29K for $100K

capital investment

Regional Healthcare

Provider

Several small locations

with leased voice access -

$2K MRC

Today 37 locations, most

are on-net

Buying voice and Metro E

MRC of $57K with a

$1.0M capital investment

10

Transport opportunity greatly enhanced with edge

out opportunities like Atlanta interconnection

Carrier Today

Provide transport across region

Responded to RFP for cell sites

across region

Sites coming on line now

New RFP for next wave of sites….. 

1/3 as second tenant

New Opportunity with Atlanta

interconnection

Diversity to I-95 national carrier

routes

High speed connections –

10Gig +

Expands overall market for

carriers

Attractive Available Markets

11

2012

Future

Edge Out

Opportunity

Current

Markets

Fiber to the cell site: End-to-End Transport opportunity

Approximately 5,000 sites within 10 miles of existing network

Goal is reach 1,000 FTTC sites within a few years from 370 at YE12 and 148 at YE11 --

key

driver is expansion of 4G/LTE roll out

Long-term growth in bandwidth creates  opportunity for significant ROI

Average

Capital

Investment

$75K-$100K

per site

Two Carrier Equivalent

Annual EBITDA:

$30K to $36K

Payback:

2 to 3 years

Three to Five

Carrier Equivalent

Annual EBITDA:

$45K to $90K

Payback:

1 to 2 years

12

Contracts of 5 to 10 years and multiple carriers per site drive

long-term profitable revenue streams

Illustrative Wireless Cell Site Economics

Fiber to the Cell (“FTTC”) Growth Well Ahead of Plan

Maintain target of 1,000 FTTC sites within a few years

Committed to maintaining 80/20 On-Net ratio within this segment

Strategy to maximize FTTC footprint in market during 2012-2015 to

capture exponential growth in broadband traffic

13

0

100

200

300

400

500

600

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

2013E

FTTC Installations

FTTC Sites

Positive On-Net Building Trends

On-Net Lit Building Expansion Critical To Strategic Data Sales and reaching

goal of 80% On-Net

Edge-Out Strategy to Drive Continued Growth

14

0

200

400

600

800

1,000

1,200

1,400

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

On-Net Buildings

On-Net Bldgs

Legacy Voice Revenue in Decline

Requires Very Limited Continued Investment

Cash Flows Assist Funding of growth initiatives within Strategic

Data

RLEC voice continuing moderate decline with strong cash generation

Legacy Competitive Voice focus is shift to larger and higher margin customers, “gracefully”

allow weaker accounts to churn off

($000)

($000)

15

Note:  Revenue presented as reclassified, unaudited

5.0%

5.5%

6.0%

6.5%

7.0%

0

1,000

2,000

3,000

4,000

5,000

6,000

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

RLEC Voice

RLEC voice

RLEC Line Loss

Competitive Voice

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

CLEC Voice

Line Loss

Access Revenue: Managed Decline

RLEC Access Reform Continues:

Lower rates, long term transition funding continues to provide strong cash generation

Competitive Access:

Continuing moderate declines with good cash generation

($000)

($000)

16

Note:  Revenue presented as reclassified, unaudited

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

RLEC Access

0

500

1,000

1,500

2,000

2,500

3,000

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

Competitive Access

Well positioned for the competitive environment

Network Capability

•

Dense fiber with available or expandable capacity

•

Most complete fiber network in our markets

•

High quality ring based network

Customer

Relationship

•

Strategic  partnership

•

Care and sales support in region

•

Technical support expertise and responsiveness

Products

•

First to bring products to addressed markets

•

Top Tier SLAs

•

Competitive pricing

17

2011

2012

45%

37%

18%

53%

31%

16%

Legacy Voice

Legacy Voice

Access

Access

Strategic Data

Strategic Data

18

Business Transformation

Accelerated Shift of Resources towards Strategic Data

Strategic Data Revenue Mix Improves EBITDA Margins

Enhanced sales organization

Improve Mix of On-Net Revenue from 70% to 80%

Keeping Costs Relatively Flat in 2013 vs 2012

> 75%

18

Long Term Target

Legacy Voice

Access

Strategic Data

Income Statement: Moving in the Right Direction

Quarterly Revenue

EBITDA

$M

4Q12: Continued Strong Momentum

Strategic Data 55% of Total Revenue

EBITDA Margin up Sequentially for Second Straight Quarter

% Margin

Data -

% Rev

$M

19

Note:  Revenue presented as reclassified, unaudited

$M

% Margin

Data -

% Rev

35.0

30.0

25.0

20.0

15.0

10.0

5.0

-

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

60%

55%

50%

45%

40%

35%

30%

50.0%

45.0%

40.0%

35.0%

30.0%

29.0

27.0

25.0

23.0

21.0

19.0

17.0

15.0

47.8%

45.0%

43.4%

41.5%

42.9%

44.1%

Legacy Voice and Access

% Data Revenue

Strategic Data

EBITDA

% Margin

20

Disciplined approach to capital investment

Guiding principles include:

75% of capital spend success-based

Achievement of capital efficiency goals

Focus on success based projects

Compliance with liquidity goals

Maintain current shareholder dividend

Metric

Target

Near –

Term Revenue Opportunity Capital

~75%

Capital to Revenue Ratio

~3.0x

EBITDA Payback

~36 –

48 Months

Return on Investment (EBITDA After Tax)

~15% -

20%

Capital as a % of Revenue

~30-35%

20

($mm)

Cash

-.0

$           -

Restricted cash

5.3

Total Assets

513.2

Revolver ($60M)

3.5

Long-term debt ($310M)

308.7

Liquidity Overview

12/31/12

21

22

2013 Strategic Goals

Leverage Dense Fiber Network to Drive Carrier/Enterprise Data Sales

Overall Revenue Growth in 2013

Margin Expansion throughout 2013

Strategic Data Growth of 15-20%

Successful Edge-Out Market Execution

Maintain 75% ratio for success-based capital projects

22

Financial Model

% of revenue 

% of revenue 

% of revenue 

2012

4Q12

1Q13

FY 2013

(Dollars in millions)

Actual

Actual

Guidance

Guidance

Annual Long Term Outlook

Revenue

Strategic Data Revenue

108.8

29.0

30.0

123-125

+ 15-20%

52.6%

55.0%

58%

59%

Legacy Voice Revenue

64.4

15.4

14.0

55-56

-10-15%

31.1%

29.2%

27%

26%

Access Revenue

33.7

8.3

30-31

-10-15%

16.3%

15.8%

15%

15%

Total

206.9

52.7

52.0

208 -

212

+ 5%

EBITDA

$

88.9

23.2

94 -

97

NA

%

43.0%

44.1%

~ 44%

~45-46%

47%+

Capital Expenditures

% Success Based

75%

77%

75%

75%

75%

Total

59.9

16.0

16.0

65-70

~30-35% of revenue

23.0

23

Note:  Revenue presented as reclassified, unaudited

8.0

2013 Financial Guidance

1

These estimates are based on management’s current expectations.  These estimates are forward-looking and actual results may differ

materially.  Please see “Special Note from the Company Regarding  Forward-Looking Statements" in the Lumos Networks Corp. fourth

quarter 2012 earnings release dated February 28, 2013.

24

Business Outlook

(as of February 28, 2013)

(In millions)

Operating Revenues

208

$ 

to

212

$     

Adjusted EBITDA

94

$   

to

97

$       

Capital Expenditures

65

$   

to

70

$       

Reconciliation of Operating Income to Adjusted EBITDA

Operating Income

44

$   

to

46

$       

Depreciation and amortization

40

to

41

Equity based compensation charges

8

Amortization of actuarial losses

2

Adjusted EBITDA

94

$   

to

97

$       

First Quarter 2013

2013 Annual

2013 Guidance

approximately $52

approximately $16

approximately $23

approximately $11

approximately $10

approximately $23

approximately $2

1

1

Reconciliation of Net Income Attributable to Lumos

Networks Corp. to Operating Income

($ in millions)

25

2008

2009

2010

2011

2012

Net income (loss) attributable to Lumos

Networks Corp.

$23

$23

$21

($44)

$16

Net income attributable to

noncontrolling interests

-

-

-

-

-

Net income (Loss)

23

23

21

(44)

16

Interest expense

1

1

6

12

12

Loss on interest rate derivatives

-

-

-

-

2

Income tax expense (benefit)

15

16

14

(4)

11

Other income, net

-

1

-

-

-

Operating Income (Loss)

$39

$41

$41

($36)

41

3/31/2011

6/30/2011

9/30/2011

12/31/2011

3/31/2012

6/30/2012

9/30/2012

12/31/2012

Net income (loss) attributable to Lumos

Networks Corp.

$5

$7

$6

($62)

$5

$3

$6

$2

Net income attributable to

noncontrolling interests

-

-

-

-

-

-

-

-

Net income (Loss)

5

7

6

(62)

5

3

6

2

Interest expense

3

3

3

3

3

3

3

3

Loss on interest rate derivatives

-

-

-

-

-

-

-

1

Income tax expense (benefit)

4

4

4

(17)

3

3

4

1

Other income, net

-

-

-

-

-

-

-

-

Operating Income (Loss)

$12

$13

$13

($75)

$12

$9

$13

$7

Year Ended

Three Months Ended

Adjusted EBITDA Reconciliation

($ in millions)

2008

2009

2010

2011

2012

Operating Income (Loss)

$39

$41

$41

($36)

$41

Depreciation and Amortization

27

29

31

43

39

Equity Based Compensation

1

-

2

2

4

Asset Impairment Charge

-

-

-

86

-

Amortization of Actuarial Losses

-

-

-

-

2

Business Separation Charges

-

-

-

2

-

Acquisition Related Charges

-

-

3

-

-

Employee Separation Charges

-

-

-

-

2

Restructuring Charges

-

-

-

-

3

Gain on Settlements, net

-

-

-

-

(2)

Adjusted EBITDA

$68

$71

$77

$97

$89

3/31/2011

6/30/2011

9/30/2011

12/31/2011

3/31/2012

6/30/2012

9/30/2012

12/31/2012

Operating Income (Loss)

$12

$13

$13

($75)

$12

$9

$13

$7

Depreciation and Amortization

11

11

11

10

9

9

10

11

Equity Based Compensation

1

1

1

-

1

1

1

1

Asset Impairment Charge

-

-

-

86

-

-

-

-

Amortization of Actuarial Losses

-

-

-

-

-

-

-

1

Business Separation Charges

-

-

-

2

-

-

-

-

Employee Separation Charges

-

-

-

-

-

2

-

-

Restructuring Charges

-

-

-

-

-

-

-

3

Gain on Settlements, net

-

-

-

-

-

-

(2)

-

Adjusted EBITDA

$24

$25

$25

$23

$22

$21

$22

$23

Year Ended

Three Months Ended

26

Thank You

IR Contact:

Will Davis

917-519-6994

davisw@lumosnet.com

27

EX-99.3

Exhibit 99.3

Lumos Networks Corporation

2011-2012 Revenue Reclassification Schedule

February 28, 2013

$000

Unaudited

Note: The Revenue As Reclassified amounts for 2011 and 2012 in the table below include reclassifications among product categories from those previously reported and represent management’s view of product revenues as they will be classified beginning in 2013. This information is unaudited and is being presented to allow the user to perform trending analyses on a go forward basis.

	Revenue As Reclassified
	2011 Reclassified (Unaudited)															2012 Reclassified (Unaudited)
	Q1			Q2			Q3			Q4			Total			Q1			Q2			Q3			Q4			Total
Revenue
Strategic Data Revenue
Enterprise Data		8,327			8,468			8,764			8,907			34,466			9,131			9,507			9,954			10,188			38,781
% of data revenue		37.9	%		37.1	%		37.0	%		35.6	%		36.8	%		35.3	%		35.8	%		36.4	%		35.1	%		35.7	%
Carrier Data		9,493			10,173			10,639			11,670			41,976			12,182			12,376			12,709			14,074			51,342
% of data revenue		43.2	%		44.5	%		44.9	%		46.6	%		44.9	%		47.1	%		46.6	%		46.5	%		48.5	%		47.2	%
IP Services		4,139			4,198			4,300			4,469			17,107			4,549			4,648			4,689			4,730			18,616
% of data revenue		18.9	%		18.4	%		18.1	%		17.8	%		18.3	%		17.6	%		17.5	%		17.1	%		16.3	%		17.1	%
Total		21,960			22,839			23,704			25,047			93,550			25,862			26,531			27,352			28,993			108,738
% of total revenue		41.7	%		43.9	%		45.9	%		49.0	%		45.1	%		50.3	%		52.2	%		52.6	%		55.0	%		52.6	%
Legacy Voice Revenue
CLEC		14,402			13,783			13,361			12,812			54,359			12,010			11,509			11,244			10,703			45,466
% of voice revenue		71.9	%		71.7	%		71.8	%		72.0	%		71.9	%		71.7	%		71.1	%		70.0	%		69.5	%		70.6	%
RLEC		5,630			5,429			5,258			4,973			21,290			4,734			4,677			4,830			4,696			18,936
% of voice revenue		28.1	%		28.3	%		28.2	%		28.0	%		28.1	%		28.3	%		28.9	%		30.0	%		30.5	%		29.4	%
Total		20,032			19,212			18,619			17,785			75,648			16,744			16,186			16,074			15,399			64,403
% of total revenue		38.1	%		36.9	%		36.1	%		34.8	%		36.5	%		32.6	%		31.9	%		30.9	%		29.2	%		31.1	%
Access Revenue
CLEC		3,270			3,164			2,765			2,764			11,963			2,720			2,545			2,410			1,938			9,613
% of access revenue		30.7	%		31.6	%		29.8	%		33.4	%		31.3	%		30.9	%		31.5	%		28.2	%		23.4	%		28.5	%
RLEC		7,382			6,847			6,513			5,511			26,254			6,086			5,541			6,140			6,350			24,117
% of access revenue		69.3	%		68.4	%		70.2	%		66.6	%		68.7	%		69.1	%		68.5	%		71.8	%		76.6	%		71.5	%
Total		10,652			10,011			9,278			8,275			38,216			8,806			8,086			8,550			8,288			33,730
% of total revenue		20.2	%		19.2	%		18.0	%		16.2	%		18.4	%		17.1	%		15.9	%		16.5	%		15.7	%		16.3	%
Total revenue		52,644			52,062			51,601			51,107			207,414			51,412			50,803			51,977			52,679			206,871
	Reclassification Adjustments
	2011 Reclassification Adjustments, net															2012 Reclassification Adjustments, net
	Q1			Q2			Q3			Q4			Total			Q1			Q2			Q3			Q4			Total
Revenue
Strategic Data Revenue
Enterprise Data		267			283			316			469			1,335			464			468			506			560			1,999
% of data revenue
Carrier Data		1,019			1,076			1,066			1,165			4,327			1,245			1,180			754			1,049			4,229
% of data revenue
IP Services		(112	)		(73	)		(64	)		(46	)		(294	)		(38	)		(36	)		(29	)		(24	)		(127	)
% of data revenue
Total		1,175			1,286			1,319			1,589			5,369			1,671			1,612			1,231			1,586			6,100
% of total revenue
Legacy Voice Revenue
CLEC		(14	)		(15	)		(14	)		(13	)		(55	)		0			0			0			(0	)		0
% of voice revenue
RLEC		471			426			318			36			1,251			(22	)		(33	)		(44	)		(187	)		(287	)
% of voice revenue
Total		457			411			304			23			1,195			(22	)		(33	)		(44	)		(187	)		(286	)
% of total revenue
Access Revenue
CLEC		82			42			31			6			161			5			5			(3	)		(10	)		(3	)
% of access revenue
RLEC		(1,714	)		(1,739	)		(1,654	)		(1,618	)		(6,724	)		(1,654	)		(1,584	)		(1,185	)		(1,388	)		(5,811	)
% of access revenue
Total		(1,632	)		(1,697	)		(1,623	)		(1,612	)		(6,564	)		(1,649	)		(1,579	)		(1,188	)		(1,398	)		(5,814	)
% of total revenue
Total revenue		—			—			—			—			—			—			—			—			—			—
	Revenue As Reported
	2011 As Reported (Unaudited)															2012 As Reported (Unaudited)
	Q1			Q2			Q3			Q4			Total			Q1			Q2			Q3			Q4			Total
Revenue
Strategic Data Revenue
Enterprise Data		8,060			8,185			8,448			8,438			33,131			8,667			9,039			9,448			9,628			36,782
% of data revenue		38.8	%		38.0	%		37.7	%		36.0	%		37.6	%		35.8	%		36.3	%		36.2	%		35.1	%		35.8	%
Carrier Data		8,474			9,097			9,573			10,505			37,649			10,937			11,196			11,955			13,025			47,113
% of data revenue		40.8	%		42.2	%		42.8	%		44.8	%		42.7	%		45.2	%		44.9	%		45.8	%		47.5	%		45.9	%
IP Services		4,251			4,271			4,364			4,515			17,401			4,587			4,684			4,718			4,754			18,743
% of data revenue		20.5	%		19.8	%		19.5	%		19.2	%		19.7	%		19.0	%		18.8	%		18.1	%		17.3	%		18.3	%
Total		20,785			21,553			22,385			23,458			88,181			24,191			24,919			26,121			27,407			102,638
% of total revenue		39.5	%		41.4	%		43.4	%		45.9	%		42.5	%		47.1	%		49.1	%		50.3	%		52.0	%		49.6	%
Legacy Voice Revenue
CLEC		14,416			13,798			13,375			12,825			54,414			12,010			11,509			11,244			10,703			45,466
% of voice revenue		73.6	%		73.4	%		73.0	%		72.2	%		73.1	%		71.6	%		71.0	%		69.8	%		68.7	%		70.3	%
RLEC		5,159			5,003			4,940			4,937			20,039			4,756			4,710			4,874			4,883			19,223
% of voice revenue		26.4	%		26.6	%		27.0	%		27.8	%		26.9	%		28.4	%		29.0	%		30.2	%		31.3	%		29.7	%
Total		19,575			18,801			18,315			17,762			74,453			16,766			16,219			16,118			15,586			64,689
% of total revenue		37.2	%		36.1	%		35.5	%		34.8	%		35.9	%		32.6	%		31.9	%		31.0	%		29.6	%		31.3	%
Access Revenue
CLEC		3,188			3,122			2,734			2,758			11,802			2,715			2,540			2,413			1,948			9,616
% of access revenue		26.0	%		26.7	%		25.1	%		27.9	%		26.4	%		26.0	%		26.3	%		24.8	%		20.1	%		24.3	%
RLEC		9,096			8,586			8,167			7,129			32,978			7,740			7,125			7,325			7,738			29,928
% of access revenue		74.0	%		73.3	%		74.9	%		72.1	%		73.6	%		74.0	%		73.7	%		75.2	%		79.9	%		75.7	%
Total		12,284			11,708			10,901			9,887			44,780			10,455			9,665			9,738			9,686			39,544
% of total revenue		23.3	%		22.5	%		21.1	%		19.3	%		21.6	%		20.3	%		19.0	%		18.7	%		18.4	%		19.1	%
Total revenue		52,644			52,062			51,601			51,107			207,414			51,412			50,803			51,977			52,679			206,871