Wednesday, July 23, 2008

Level 3 Reports Communications Services Growth of 9% YoY

Level 3 Communications reported Q2 consolidated revenue was $1.09 billion for the second quarter 2008, an increase of 4 percent compared to $1.05 billion for the second quarter 2007. First quarter 2008 consolidated revenue was $1.09 billion. The net loss for the second quarter 2008 was $33 million, or $0.02 per share, including a $96 million, or $.06 per share gain on the sale of the company's Vyvx advertising distribution business.


Core Communications Services revenue, which includes Core Network Services and Wholesale Voice Services, was $972 million in the second quarter 2008, an increase of 9 percent over $888 million in the second quarter 2007.


"Our strong second quarter results reflect Core Network Services growth and our continued focus on reducing network costs and operating expenses," said James Crowe, president and CEO of Level 3. "We generated positive Free Cash Flow and now expect to be Free Cash Flow positive for the remainder of the year. And as previously announced, we expect to be Free Cash Flow positive for the full year 2009."11 million.http://www.level3.com

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