Level 3 posts $78 million loss in Q1

BROOMFIELD – Level 3 Communications Inc. (NYSE: LVLT) reported revenue of $1.577 billion for the first quarter of its fiscal year that ended March 31, but the telecommunications company incurred a loss of $78 million, or 36 cents per share.

Broomfield-based Level 3’s loss narrowed as compared with a loss of $138 million, or 66 cents per share, on revenue of $1.586 billion during the first quarter a year ago.

“I am excited to be leading Level 3 at a time when we have a great opportunity to expand our market position in the enterprise business,´ said Jeff Storey, president and chief executive, who replaced James Crowe earlier this month at the helm of Level 3.

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“We intend to continue our focus on providing outstanding service to our customers, and believe that will help us deliver profitable revenue growth, margin expansion and free cash flow generation.”