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Level 3 Q3 2010

Third Quarter Financial Highlights

  • Consolidated revenue increased sequentially to $912 million
  • Core Network Services revenue grew 1 percent sequentially and 1 percent year-over-year; 2 percent year-over-year growth on a constant currency basis
  • Strong Communications Gross Margin and Communications Adjusted EBITDA Margin performance
  • Consolidated Adjusted EBITDA grew to $218 million from $209 million in the prior quarter and $213 million in the year-ago quarter
  • Capital spending increased as company continues to invest to support sales

Level

Level 3 Q1 2010

First Quarter Financial Highlights

  • Continued sequential improvement in sales and churn
  • Consolidated Revenue of $910 million
  • Consolidated Adjusted EBITDA of $200 million

Level 3 Communications, Inc. (NASDAQ: LVLT) 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.

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. The net loss for the fourth quarter 2009 was $182 million, or $0.11 per share, and $132 million or $0.08 per share for the first quarter 2009.

Consolidated Adjusted EBITDA was $200 million in the first quarter 2010, compared to $217 million in the fourth quarter 2009 and $250 million in the first quarter 2009.

“We are encouraged by the positive improvement we’ve seen this year for both sales and churn” said James Crowe, CEO of Level 3. “Ongoing broadband demand is providing sales opportunities across the company.

Level 3 Q3 2009 Results

level3Level 3 Communications, Inc. (NASDAQ: LVLT) reported consolidated revenue of $916 million for the third quarter 2009, compared to consolidated revenue of $1.07 billion for the third quarter 2008 and $942 million for the second quarter 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.” Continue reading Level 3 Q3 2009 Results

Level 3 Q2 2009 results

Level 3 Communications, Inc. (NASDAQ: LVLT) reported consolidated revenue of $942 million for the second quarter 2009, compared to consolidated revenue of $1.09 billion for the second quarter 2008.

The net loss for the second quarter 2009 was $134 million, or ($0.08) per share, compared to a net loss of $42 million, or ($0.03) per share for the second quarter 2008, which included a gain of $96 million from the sale of the company’s Vyvx advertising distribution business. The net loss for the first quarter 2009 was $132 million, or ($0.08) per share.

Consolidated Adjusted EBITDA was $229 million in the second quarter 2009, compared to $251 million in the second quarter 2008. Consolidated Adjusted EBITDA was $250 million in the first quarter 2009.

“The economy continued to be challenging in the second quarter for wireline service providers,” said James Crowe, CEO of Level 3. “As expected, sequential revenue pressure continued in the second quarter, although at a significantly moderated rate. We did see improvements in sales and churn, however, they were not as much as we expected. We continue to manage our costs aggressively, and for the fifth consecutive quarter, we were able to reduce our operating expenses, and year over year, we improved both our Gross Margin and Adjusted EBITDA Margin percentages. In addition, we completed several liability management transactions, which further strengthened our balance sheet.” Continue reading Level 3 Q2 2009 results