Business Services Industry
Colorado-Based Level 3 Communications Reports Quarterly Loss.
Knight Ridder/Tribune Business News, July, 1999 by Russo, Ed
Knight Ridder/Tribune Business News
Jul. 22 -- Income from sources other than its communications network held down a second quarter loss for Level 3 Communications Inc.
The Broomfield, Colo.-based firm, which began in Omaha, reported Thursday that it had a net loss of $44 million, or 13 cents per share, on revenue of $106 million. In the second quarter of 1998, Level 3 had a net loss of $34 million, or 11 cents a share, on revenue of $103 million.
Level 3, which is building the nation's first end-to-end, Internet-based communications network, had capital expenditures in the quarter that totaled $808 million, most of it for the construction of the network between cities. By June 30, about 2,500 miles of its national network were completed, the...
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