Lightyear Narrows Losses

Lightyear Network Solutions on Wednesday said it anticipates a significantly smaller 2011 loss than in the previous year.

The Louisville, Ky.-based telecom provider expects to post a net loss from operations of between $800,000 and $1.1 million. That’s down about 70 percent from a 2010 loss of $2.9 million, Lightyear announced.

Not counting an $11.8 million deemed dividend for the redemption of 9.5 million shares of convertible preferred stock, the company expects reporting a loss per common share of $0.03.

Lightyear did not report its anticipated revenues for 2011.

The company cautioned that its stated results are subject to being finalized.

Shares of Lightyear (LYNS) were last trading over the counter at 21 cents, according to the OTC Bulletin Board.

Leave a comment

Your email address will not be published. Required fields are marked *

The ID is: 84480