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2/8/2004

Level 3 cuts its quarterly losses

The Daily Times-Call

BROOMFIELD — Level 3 Communications has announced a reduction in losses for the most recent quarter and all of 2003.
The company said its net loss in the fourth quarter was $121 million, or 18 cents per share, compared with $247 million, or 38 cents per share, during the previous fourth quarter.
Total revenue for the fourth quarter was $988 million, compared with $926 million during the fourth quarter of 2002.
Level 3, whose operations includes fiber-optic cable, Internet Protocol services and even coal mining operations, reported a net loss of $1.26 a share for the entire year, compared with a $2.11 loss per share in 2002.
Net revenue for all of last year was $4.02 billion, and net income was a loss of $711 million. In 2002, those numbers were $3.11 billion, and $858 million, respectively.