Level 3 sees smaller losses

27 Oct 2008

The US-based international carrier Level 3 has reported a third-quarter net loss of USD120 million, down from a loss of USD174 million a year earlier but well up on the 2Q 2008 figure of USD33 million. Revenues for the period were up 1% to USD1.07 billion, boosted by a 6% jump in sales at the core communications business. The telco’s vice chairman, Buddy Miller, told Dow Jones that the company was experiencing delays in orders rather than outright cancellations: ‘We’re not seeing a drop-off in demand.’ He added: ‘All we can say is we’ve seen a lengthening of the sales cycle.’ Level 3 has cut its full-year revenue growth forecasts to 7.5%, down from the previous estimate of between 8% and 13%.

United States, Level 3 Communications