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Level 3 Losses Triple, Reach $188 Million

Posted on: Thursday, 21 July 2005, 21:00 CDT

Level 3 Communications, lacking the boost that a onetime income item gave it a year earlier, reported Thursday that its second- quarter loss tripled.

The loss was $188 million, 27 cents a share, compared with a loss of $63 million, 9 cents, in the second quarter of 2004. A $147 million "other income" item in 2004 kept the company from suffering a 31-cent-a-share loss then.

Revenue for the quarter that ended June 30 fell to $910 million, $8 million lower than in 2004. Communications revenue, received for rental of the company's fiber-optic network, was $371 million, $20 million below a year earlier.

Revenue in the information services business, which includes (i)Structure in Omaha, increased by $17 million, hitting $520 million.

Overall revenue was $100 million lower than the $1.01 billion of the first quarter.

Costs and expenses were $975 million, $36 million lower than the $1.01 billion of a year earlier.

Source: Omaha World - Herald

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