Qwest Communications International Inc. (NYSE:Q):
|Unaudited (in millions, except per share and margin amounts)|
|4Q 2010||4Q 2009||Change||FY 2010||FY 2009||Change|
|Income (Loss) before Income Taxes||(81||)||177||nm||450||903||(50.2||)%|
|Net (Loss) Income||(161||)||108||nm||(55||)||662||nm|
|Net (Loss) Income per Diluted Share||$(0.09||)||$0.06||nm||$(0.03||)||$0.38||nm|
|Adjusted EBITDA Margin||37.9||%||36.2||%||170 bps||37.8||%||35.9||%||190 bps|
|Adjusted Free Cash Flow||$426||$506||(15.8||)%||$1,924||$1,930||(0.3||)%|
(a) See Attachment E for Non GAAP Reconciliations
Qwest Communications (NYSE: Q) today reported financial results for the fourth quarter and full year 2010. For the quarter, the company reported improved year-over-year revenue comparisons, expanded adjusted EBITDA margin and strong free cash flow. Qwest also continued to strengthen its balance sheet.
For the fourth quarter, the company reported a loss of 9 cents per share compared to positive earnings of 6 cents per share in the fourth quarter 2009. Special items reduced reported earnings per share by 21 cents in the fourth quarter 2010 and by 2 cents in the year-ago period. For the full year, the company reported a loss per share of 3 cents compared to positive earnings per share of 38 cents in 2009. Special items reduced reported earnings per share by 47 cents in 2010 and had no net impact in the prior year. Special items for the quarter are discussed in the Consolidated Financial Results section below.