Tuesday, October 27, 2009

Level 3's Q3 Revenue Drops to $916 Million

Level 3 Communications reported consolidated revenue of $916 million for Q3 2009, compared to consolidated revenue of $1.07 billion for Q3 2008 and $942 million for the Q2 2009. The net loss for the third quarter 2009 was $170 million, or ($0.10) per share, compared to a net loss of $129 million, or ($0.08) per share, for the third quarter 2008. The net loss for the second quarter 2009 was $134 million, or ($0.08) per share. Consolidated Adjusted EBITDA was $213 million in the third quarter 2009, compared to $255 million in the third quarter 2008. Consolidated Adjusted EBITDA was $229 million in the second quarter 2009.


"While we remain cautious, we saw positive signs in the business this quarter, as evidenced by the improvement this quarter in the rate of decline in Core Network Services revenue," said James Crowe, CEO of Level 3. "Our ongoing discipline in managing the business continues to provide benefit, and enabled us to generate positive Free Cash Flow during the quarter."http://www.level3.com

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