Level 3 Reports Q4 EPS of $(0.03) vs. $(0.10)

Level 3 Communications, Inc. LVLT reported strong quarterly results, highlighted by growth in Core Network Services revenue and Consolidated Adjusted EBITDA, continued margin expansion, and positive Free Cash Flow in the quarter. Consolidated revenue was $921 million for the fourth quarter 2010, compared to consolidated revenue of $912 million for the third quarter 2010 and $924 million for the fourth quarter 2009. For the full year 2010, consolidated revenue was $3.65 billion, compared to $3.76 billion in 2009. The net loss for the fourth quarter 2010 was $52 million, or $0.03 per share, which included an income tax benefit of $93 million, or $0.06 per share primarily from the release of foreign deferred tax valuation allowances. This compared to a net loss of $163 million, or $0.10 per share for the third quarter 2010, and a net loss of $182 million or $0.11 per share for the fourth quarter 2009. The net loss for the full year 2010 was $622 million, or $0.37 per share. The net loss for the full year 2009 was $618 million, or $0.38 per share.