Rochester,NY 7/31/2009 2:08:18 AM
Level 3 Communications Inc., LVLT - Revenue Pressure for Level 3, 2Q Loss Triples Amid Year-Ago Gain
Level 3 Communications Inc.
On a prior-year divestiture gain, Level 3 Communications Inc.'s second-quarter loss widened sharply. but margins rose again at the telecommunication and information-services company.
However, shares slumped 15% premarket to $1.37 as Level 3 cut its 2009 profit target and the quarter's revenue fell short of analysts' expectations.
http://StockEinstein.com offers free daily stock alerts on companies ready to run. Sign up for our free alerts newsletter.
Despite continued revenue pressure has been noted by Chief Executive James Crowe, second-quarter sales and churn did show some improvement - but not as much as expected. Chief Financial Officer Sunit Patel added overall revenue pressure is expected to continue in the second half of the year.
As such, the company cut its earnings target for the year, seeing adjusted earnings before interest, taxes, depreciation and amortization of $900 million to $950 million. The company had been projecting the figure to be above last year's $988 million.
StockEinstein.com has a dedicated team uncovering stocks ready to break and run. We apply time tested criteria and when one of these stocks meets or exceeds our benchmarks, our subscribers are immediately notified directly to their in-box.
This is a free service available only to our subscribers. Scroll to the bottom of this page to signup for free stock alerts and visit our site.
During 2009 our alerts have resulted in an average price gain of 80%+.
Disclaimer: Full disclaimer at http://StockEinstein.com/disclaimer.php
IMPORTANT: Never invest in any stock featured in any press release, email or website unless you can afford the loss of your entire investment. Stocks and particularly penny stocks have the possibility for dramatic gains, and also losses. Neither StockEinstein, nor any of its affiliates are registered investment advisors or broker dealers.
