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XO Q2 2010

XO Holdings Reports Second Quarter 2010 Financial Results

XO Holdings, Inc. (OTCBB: XOHO) today announced its second quarter 2010 financial and operational results.Adjusted EBITDA was $40.5 million in the second quarter of 2010, an increase of $3.4 million compared to the year-ago period. Net loss in the second quarter of 2010 was $1.2 million, a decrease of 80% compared to the net loss of $6.0 million in the second quarter of 2009.

Total revenue for the second quarter of 2010 was $383.6 million, a decrease of $2.0 million, or 1%, compared to the year-ago period. This decrease primarily resulted from targeted price increases within XO’s wholesale long-distance services, which were implemented to improve margins on selected routes.

The company continues to closely monitor and react to the impact of macro-economic conditions on our industry and customers. “While we, like other wireline telecommunications services providers, continue to face short term challenges, we remain bullish on the long term potential for the company,” said Carl Grivner, chief executive officer of XO Communications.

Financial Results
($ in millions) Q2 2010 Q1 2010 Q2 2009
——– ——– ——–
Revenue $ 383.6 $ 369.5 $ 385.6
——– ——– ——–
Adjusted EBITDA (1) $ 40.5 $ 30.6 $ 37.1
——– ——– ——–
Adjusted EBITDA % (2) 11% 8% 10%
——– ——– ——–
Net Loss $ (1.2) $ (16.6) $ (6.0)
——– ——– ——–
Preferred Stock Accretion $ (17.7) $ (20.2) $ (19.9)
——– ——– ——–
Net Loss Allocable to Common Shareholders $ (18.9) $ (36.8) $ (25.9)
——– ——– ——–
Capital Expenditures $ 57.6 $ 64.2 $ 51.4
——– ——– ——–
(1) Adjusted EBITDA is a Non-GAAP financial measure. See the footnote
discussion accompanying the financial statements.
(2) Adjusted EBITDA % is adjusted EBITDA divided by revenue. See the
footnote discussion accompanying the financial statements.

Revenue
In the second quarter of 2010, XO’s Broadband offerings generated $220.0 million in revenue, an increase of $24.6 million, or 13%, from the year-ago period. This increase resulted from the continued growth in XO’s diverse broadband offerings, such as IP-VPN, IP Flex, Ethernet and Dedicated Internet Access services.
The revenue growth in XO’s Broadband services is partially offset by the year-over-year decrease in Integrated/Voice and Legacy TDM services. Revenue for Integrated/Voice Services during the second quarter of 2010 was $56.8 million, a decrease of $17.7 million, or 24%, compared to the year ago period. This category is inclusive of XO’s wholesale long distance offering, Carrier Long Distance Termination (CLDT), which declined $4.2 million compared to the year-ago period. This decline was the result of aforementioned targeted price increases implemented to improve margins on selected routes.

XO Promotes Barbara Polk to Senior Vice President of Human Resources

XO Communications (OTCBB: XOHO) today announced the promotion of Barbara Polk to senior vice president of human resources, effective immediately. A seasoned professional, Polk brings more than 20 years of experience in human resources management and strategic consulting for both for-profit and non-profit organizations.

In her new role, Polk is responsible for leading the company

XO Q4 2009 results & FY 2009 (OTCBB:XOHO)

XO Holdings, Inc. (OTCBB: XOHO) today announced its 2009 fourth quarter and full year financial and operational results, reporting yearover- year growth in adjusted EBITDA and net income. Total revenue for 2009 was $1.5 billion, an increase of $43.7 million, or 3.0%, compared to 2008. Adjusted EBITDA (a non-GAAP financial measure) increased 38.7% to $152.6 million for the full year 2009, compared to $110.0 million for 2008. Loss from operations for 2009 was $47.2 million, compared to $84.8 million in 2008. The company recognized a net income of $21.8 million in 2009, compared to a net loss of $75.3 million in 2008. Net income (loss) included net investment gains of $60.0 million and $19.2 million for 2009 and 2008, respectively.
Total revenue for the fourth quarter of 2009 was $375.8 million, an increase of $0.6 million, or 0.2%, compared to the same period last year. Adjusted EBITDA was $43.3 million in the fourth quarter of 2009, compared to $34.4 million in the same period last year. Loss from operations for the fourth quarter 2009 was $13.1 million, compared to $18.7 million in the fourth quarter of 2008. Net income for the fourth quarter 2009 was $13.3 million compared to $21.5 million for the year-ago period. Fourth quarter net income for 2009 and 2008 was impacted by $25.7 million and $30.5 million in net investment gains, respectively.

“In 2009, XO continued to deliver high quality broadband services to businesses and carriers throughout the United States and, as a result, we have seen strong revenue growth, particularly within our core services offerings,” said Carl Grivner, Chief Executive Officer of XO Holdings. “In the year ahead, we’ll continue to execute upon our business strategy and remain focused on advancing high-growth sectors of our business.”
Fourth Quarter and Full Year 2009 Financial Results ($ in millions) Continue reading XO Q4 2009 results & FY 2009 (OTCBB:XOHO)