Level 3 Reports Q3 Revenue of $1.07 billion

Level 3 Communications reported consolidated revenue was $1.07 billion for the third quarter 2008, compared to $1.06 billion for the third quarter 2007. Second quarter 2008 consolidated revenue was $1.09 billion. Total Communications revenue for the third quarter 2008 was $1.05 billion, compared to $1.04 billion in the third quarter 2007 and $1.07 billion in the second quarter 2008. The net loss for the third quarter 2008 was $120 million, or $0.08 per share, compared to a net loss of $174 million, or $0.11 per share for the third quarter 2007.


Core Communications Services revenue, which includes Core Network Services and Wholesale Voice Services, was $964 million in the third quarter 2008, a 6 percent increase over $909 million in the third quarter 2007, or $899 million on a Normalized Basis. Core Communications Services revenue was $972 million in the second quarter 2008, or $954 million on a Normalized Basis.


Core Network Services revenue was $791 million in the third quarter 2008, compared to $756 million in the third quarter 2007 and $797 million in the second quarter 2008, or $746 million and $779 million on a Normalized Basis for the third quarter 2007 and the second quarter 2008, respectively.


Wholesale Voice Services revenue in the third quarter 2008 was $173 million compared to $153 million in the third quarter 2007 and $175 million in the second quarter 2008.


"Our operating results for the quarter show the continuing margin expansion and growth in Consolidated Adjusted EBITDA," said James Crowe, president and CEO of Level 3. "Our year over year improvements were achieved through Core Communications Services revenue growth and our continued disciplined approach to cost management. And despite the current economic environment, we believe that our extensive fiber based network and full suite of services position us well to attract additional market share."http://www.level3.com