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Level 3 Q2 revenue down to $908m

Expects to see sequential growth in core network services revenue for rest of 2010

By CBR Staff Writer

Level 3 has reported revenue of $908m for the second quarter 2010, compared to revenue of $942m for the same period last year. Total communications revenue was down to $892m from $926m.

The company posted an operating loss of $28m for the second quarter of 2010, compared to an operating loss of $8m for the second quarter of 2009. Adjusted EBITDA was $209m, compared to $229m.

For the second quarter ended June 30, 2010, the company posted net loss of $169m, or $0.10 per share compared to net loss of $134m, or $0.08 per basic and diluted share.

James Crowe, CEO of Level 3, said: ""As we said last quarter, we expected to see sequential growth in our core network services revenue for the rest of 2010.

"core network services revenue grew sequentially by approximately 1%, excluding the $7m asset sale in the first quarter 2010. Our core network services sales increased for the third consecutive quarter, and we believe this is a good indicator of the improved performance we expect in the second half of the year."

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