ksh question, loops

i want to add about 60 printers using a ksh script.
i am having trouble though, i am reading the input from the hosts file and using the lpadmin command to add like so:

lpadmin -p [printername] -v /dev/null -m netstandard -o dest=[ipaddy]

i want printername and ipaddy to come from the hosts file, i am having some trouble getting the right variables in the right spots, i know this is about a 2 minute script for some of you, so any assistance will be greatly appreciated.

thanks,
Brian

assuming /etc/host file format:

#!/bin/ksh
while read ip host junk
do
   lpadmin -p "${host}" -v /dev/null -m netstandard -o dest="${ip}"
done < myPrinterFile