Level 3 Q3 revenues up from last year
Level 3 announced a 25% increase in revenues for third quarter 2001 compared to the same quarter last year, to $319 million. But the net loss for the quarter was $437 million, or $1.17 per share.
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Excluding a $94 million net gain from previously announced debt for equity exchanges during the quarter, the net loss was $531 million, or $1.42 per share. As part of its debt repurchase program, the company retired $1.9 billion face amount of debt during the quarter.
Level 3 saw the results as good considering the current conditions, but it did not give future guidance.
“Given these circumstances, we do not believe it is realistic to provide reliable longer-term projections at this time,” said James Crowe, CEO of Level 3.
--Liane LaBarba, senior editor
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© 2012 Penton Media Inc.
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