Level 3 Communications Inc. (LVLT) announced that its third-quarter net loss was $170 million or $0.10 per share, compared to a net loss of $129 million or $0.08 per share, for the third quarter 2008. Consolidated revenue for the quarter was $916 million, down from $1.07 billion in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.10 per share on revenues of $926.25 million for the quarter. Analysts' estimates typically exclude special items.
Consolidated Adjusted EBITDA is expected to increase in the fourth quarter compared to our results this quarter.
The company expects Consolidated Adjusted EBITDA of $900 million to $950 million for the full year 2009. The company also expect to be about Free Cash Flow neutral for 2009 in the aggregate. In addition, Level 3 Communications continues to expect improvement in the sequential performance of Core Network Services revenue.
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