Level 3 Communications Q2 Loss Reduces - Quick Facts

(RTTNews) - Level 3 Communications, Inc.,(LVLT), a provider of facilities-based integrated communications service, reported a narrower second-quarter net loss of $24 million, versus a $62 million loss last year.

For the recent quarter, net loss was $0.11 per share, which included $0.03 per share or $21 million of cash and non-cash severance charges attributable to executive management changes incurred in the second quarter 2013, partially offset by $14 million in other income chiefly resulting from foreign currency transaction gains. Prior year's net loss totaled $0.29 per share. On average, 16 analysts polled by Thomson Reuters expected loss per share of $0.08 for the quarter. Analysts' estimates typically exclude one-time items.

The firm reported total revenue of $1.565 billion, compared with $1.59 billion for the second quarter 2012. Analysts estimated revenues of $1.59 billion for the quarter.

Looking ahead, the company continues to expect sequential CNS revenue growth in 2013 to be generally stronger compared with 2012.