Sunday, August 14, 2011

XO Posts Revenue of $381.7 million, Down Slightly from Last Year

XO Holdings reported Q2 revenue of $381.7 million compared to $383.6 million in the same period last year. Adjusted EBITDA (a non-GAAP financial measure) was $43.4 million in the second quarter of 2011, an increase of 7%, or $2.9 million over the year-ago period. Adjusted EBITDA as a percentage of revenue remained flat at 11% for the current quarter compared to the same quarter of 2010.

Net loss for the second quarter 2011 was $10.1 million compared to $1.2 million for the year-ago period. XO's results for the second quarter of 2010 included net investment gains of $5.4 million. There were no investment gains recognized during the second quarter of 2011.

Q2 revenue for Strategic Core services (IP-based services as well as transport) generated $242.8 million in revenue, an increase of $26.5 million, or 12% over the year-ago period. This was offset by year-over-year decreases in Legacy and Non-Core products. Revenue from Legacy products, such as more mature and traditional wireline voice, retail long distance, and other TDM-related products and services, decreased $9.7 million, or 7%, during the second quarter, compared to the year-ago period.