Wednesday, May 5, 2010

Level 3 Sees Stabilizing Trend in Mid-Market Enterprise Services

Level 3 Communications reported consolidated revenue of $910 million for the first quarter 2010, compared to consolidated revenue of $924 million for the fourth quarter 2009 and $980 million for the first quarter 2009. Total Communications Revenue for the first quarter 2010 was $900 million, compared to $906 million for the fourth quarter 2009. Total Communications Revenue for the first quarter 2009 was $962 million.


The net loss for the first quarter 2010 was $238 million, or $0.14 per share. Excluding a loss of $54 million, or $0.03 per share on the extinguishment of debt, the net loss was $184 million, or $0.11 per share.


"We were particularly encouraged by the growth in Large Enterprise and Federal revenues," said Sunit Patel, executive vice president and CFO of Level 3. "Mid-market revenues, which have been declining since 2007, are now stabilizing. We were pleased to see a return to sequential revenue growth on a constant currency basis for our European business. While European revenues declined on an as-reported basis, assuming constant currency, European revenues increased 3 percent. Our Wholesale revenues declined this quarter due to expected seasonality in the Vyvx broadcast business and a decline in inter-carrier compensation, partially offset by an asset sale of approximately $7 million. "http://www.level3.com

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