Broomfield-based Level 3 posts 2Q loss

BROOMFIELD — Level 3 Communications Inc. (NYSE: LVLT) on Wednesday posted a net loss of $13 million for the second quarter, ending the Broomfield-based telecommunications company’s string of quarterly profits at six.

The loss amounted to 4 cents per diluted share and included a $163 million hit due to “the extinguishment and modification of debt related to refinancing transactions.”

The loss compared to a profit of $45 million, or 13 cents per share, for the same period a year ago, assuming the acquisition of tw telecom had occurred on Jan. 1 of last year. Level 3 closed its acquisition of tw telecom in October.

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Revenue, meanwhile, grew slightly, up from $2.03 billion last year to $2.06 billion this year.

The net loss didn’t appear to hurt investor confidence, with Level 3’s share price up 40 cents to $52.50 in early trading Wednesday.

“We executed on our integration plans, while maintaining our focus on the customer experience,” Level 3 CEO Jeff Storey said in a prepared statement. “Beyond integration, we are also making investments to position the company for long-term growth by advancing our product offerings, expanding our network footprint and simplifying our operating environment.”

Level 3 officials reiterated the 2015 outlook updated last quarter, which included growth of adjusted earnings before interest, taxes, depreciation and amortization of 14 to 17 percent and free cash flow of $600 million to $650 million.