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.

SPONSORED CONTENT

How dispatchable resources enable the clean energy transition

Platte River must prepare for the retirement of 431 megawatts (MW) of dispatchable, coal-fired generation by the end of the decade and address more frequent extreme weather events that can bring dark calms (periods when there is no sun or wind).

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.