US LEC revenue grows, but loss widens
US LEC reported a third-quarter net loss of $22.8 million, or 85 cents per share, which missed the analyst consensus of a 71-cent loss and was significantly weaker than the 66-cent loss the company produced in the second quarter.
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However, the company’s revenues for the quarter improved to $46 million--a 54% increase year-over-year and a 7% increased compared to the second quarter. US LEC posted an EBITDA loss of $3.3 million, an improvement on the $4.9 million loss it reported in the second quarter.
Operationally, US LEC completed its planned network build and added about 800 customers during the quarter.
--Toby Weber, staff writer
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© 2012 Penton Media Inc.
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