Wednesday, February 6, 2008

Level 3 Posts Communications Revenue of $1.08 Billion

Level 3 Communications reported consolidated revenue of $1.10 billion for the fourth quarter 2007, compared to consolidated revenue of $1.06 billion for the third quarter 2007. For the full year 2007, consolidated revenue increased to $4.27 billion, compared to $3.38 billion in 2006. The net loss for the fourth quarter 2007 was $91 million, or $0.06 per share, compared to a net loss of $174 million, or $0.11 per share, for the previous quarter. The net loss for 2007 was $1.11 billion, or $0.73 per share, compared to a net loss of $744 million, or $0.74 per share in 2006.



Total Communications Revenue for the fourth quarter 2007 was $1.08 billion, versus $1.04 billion for the previous quarter. The company recognized $2 million in termination revenue during the fourth quarter 2007 and $5 million in termination revenue during the third quarter 2007.



"During the quarter, we made a number of organizational, process and systems improvements to better align our sales, service and operational capabilities," said James Crowe, CEO of Level 3. "And while we still have more work to do, these actions have significantly reduced our aged backlog of signed sales orders, improved our customer experience, and paved the way to accelerate future revenue growth. Financial performance for the quarter was solid, with particularly strong growth in Core Communications Services Revenue, Unlevered Cash Flow and Free Cash Flow."http://www.level3.com

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