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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)

Nortel cancels today’s auction

nortelNortel Networks Corporation (OTCBB:NRTLQ) announced that in light of ongoing discussions with interested parties, it has decided to not hold the previously scheduled auction today in relation to the sale of its global Optical Networking and Carrier Ethernet businesses. Qualified bidders are now required to submit offers by November 17, 2009. The Company expects to provide a further update on the auction process and sale of these businesses next week.