February 8, 2012

Level 3 stock rises after earnings report

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BROOMFIELD – The share price of Level 3 Communications Inc. jumped Wednesday, following the Broomfield-based telecommunications company’ release of its fourth-quarter results.

Level 3 (NYSE: LVLT) reported a net loss of $756 million for its fiscal year, which ended Dec. 31, but projections that the company’s adjusted earnings before interest, taxes, depreciation and amortization in 2012 could increase by up to 25 percent drove interest on Wall Street.

At 1 p.m. Mountain Time, Level 3’s share price was $21.38, up from $19.79 at the start of trading Wednesday.

Level 3’s net loss for the fourth quarter of 2011 was $163 million,…

Christopher Wood
Christopher Wood is editor and publisher of BizWest, a regional business journal covering Boulder, Broomfield, Larimer and Weld counties. Wood co-founded the Northern Colorado Business Report in 1995 and served as publisher of the Boulder County Business Report until the two publications were merged to form BizWest in 2014. From 1990 to 1995, Wood served as reporter and managing editor of the Denver Business Journal. He is a Marine Corps veteran and a graduate of the University of Colorado Boulder. He has won numerous awards from the Colorado Press Association, Society of Professional Journalists and the Alliance of Area Business Publishers.
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