Level 3 Communications Turns To Profit In Q1 - Quick Facts

(RTTNews) - Level 3 Communications, Inc. (LVLT) reported net income of $112 million or $0.47, per share in the first quarter 2014. For the first quarter 2013, the company had a net loss of $78 million or $0.36 per share, which included $0.11 in foreign exchange losses in EMEA and Latin America and a $0.10 loss for the devaluation of the Venezuelan Bolivar.

Adjusted EBITDA was $458 million for the first quarter of 2014. This is compared to adjusted EBITDA for the first quarter 2013 of $371 million, on a pro forma basis.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased to $1.61 billion from $1.58 billion. Analysts expected revenue of $1.59 billion for the quarter.

The company now expects adjusted EBITDA to grow 14 to 18 percent for the full year 2014 compared to its prior outlook of 11 to 14 percent.