Level 3 Reports Third Quarter 2014 Results

Third Quarter 2014 Highlights

Broomfield, Colo., (PresseBox) - .
- Core Network Services revenue for the third quarter 2014 increased by 5.8 percent year-over-year, on a constant currency basis
- Enterprise Core Network Services revenue grew 9.1 percent year-over-year, on a constant currency basis
- Adjusted EBITDA was $471 million
- Generated Free Cash Flow of $117 million
- Level 3 closed tw telecom acquisition on Oct. 31, 2014

tw telecom
- tw telecom's enterprise revenue grew by 8.4 percent year-over-year
- tw telecom reported M-EBITDA of $143 million

Level 3 Communications, Inc. (NYSE: LVLT) today reported solid third quarter results for both Level 3 and tw telecom, driven primarily by continued growth from enterprise customers.
"Level 3's and tw telecom's results reflect both companies' strong focus on execution in the enterprise market," said Jeff Storey, president and CEO of Level 3. "Given the combined company's broad product portfolio, extensive network reach and customer-first mindset, we believe we are well-positioned to continue to capture enterprise market share."

Level 3 Results
Level 3 reported total revenue of $1.629 billion for the third quarter 2014, compared to $1.569 billion for the third quarter 2013.
In the third quarter 2014, the company generated net income of $85 million and $0.36 basic and $0.35 diluted net income per share, which included expenses of $7 million associated with the tw telecom transaction. For the third quarter 2013, the net loss was $0.09 per share. Included in net loss per share for the third quarter 2013 were $0.13 per share of severance charges and $0.08 per share of refinancing charges.
Adjusted EBITDA was $471 million in the third quarter 2014, which included $7 million of tw telecom transaction and integration-related expenses and a benefit of $10 million for adjustments to our accrued liabilities for tax and legal matters. For the third quarter 2013, Adjusted EBITDA on a pro forma basis was $404 million, which has been adjusted to include $11 million in bonus-related non-cash compensation expense and to exclude $30 million of severance charges, both of which were recognized in that quarter.
On Sept. 25, 2014, Level 3 filed a Form 8-K with the Securities and Exchange Commission. Level 3 is now segregating Selling, General and Administrative (SG&A) expenses into two separate categories: "Network Related Expenses," and SG&A. In addition, the company has relabeled "Cost of Revenue" to "Network Access Costs." The definition of "Network Access Costs" and "Network Access Margin" are unchanged from the historic definitions of Cost of Revenue and Gross Margin, respectively.

Die vollständige Meldung finden Sie unter: http://level3.mediaroom.com/2014-11-05-Level-3-Reports-Third-Quarter-2014-Results.

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Level 3 Communications GmbH

Level 3 Communications, Inc. (NYSE: LVLT) ist ein Fortune-500-Unternehmen, das regionale, nationale und globale Kommunikationsdienstleistungen für Unternehmens-, Behörden- und Carrierkunden bereitstellt. Das umfassende Level 3 Portfolio an sicheren, gemanagten Lösungen bietet Glasfaser- und Infrastrukturlösungen, Sprach- und Datenübertragung auf IP-Basis, Wide-Area-Ethernet-Dienste, Bereitstellung von Videos und Inhalten sowie Datacenter- und cloudbasierte Lösungen. Level 3 betreut Kunden in mehr als 500 Märkten und 60 Ländern. Dazu nutzt es eine globale Service-Plattform, die auf eigenen Glasfasernetzen in drei Kontinenten mit Anbindung an die umfangreich ausgebaute Seekabeltechnik aufbaut. Weitere Informationen finden Sie unter www.level3.com.

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