On a constant-currency basis, enterprise CNS revenues grew 3% sequentially, outpacing the decline in wholesale revenues. On a regional basis, North American CNS revenues grew 2% sequentially, with 4% sequential growth from enterprise and a 2% sequential decline from wholesale. In EMEA, our sequential CNS revenue performance improved on a constant-currency basis, declining 0.8% sequentially compared to a 2% sequential decline in the fourth quarter. On a constant-currency basis, wholesale and enterprise CNS revenues were flat sequentially. U.K. government CNS revenues declined by 4% on a constant-currency basis as expected. Our sales orders in EMEA improved nicely over the course of the first quarter, and we believe the business has stabilized. We expect to see stronger CNS revenue growth performance in EMEA over the balance -- for the balance of the year.CNS revenues for the Latin America region grew sequentially, at 2% on a constant-currency basis, driven by strong growth in the enterprise business of 3%. As is typical, in Latin America in the first quarter, wholesale CNS revenues declined 3% sequentially on a constant currency basis.
Level 3 Communications' CEO Discusses Q1 2012 Results - Earnings Call Transcript
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