Level 3 Loss Narrower Than Expected

Level 3 Communications(LVLT Quote) said Friday that its loss for the fourth quarter was narrower than Wall Street had expected.

Earnings Scorecard
Actual	Estimated*	Year-Ago
- $1.50	- $1.53	- $0.56

The Broomfield, Colo.-based telecommunications firm said its loss for the quarter was $1.50 a share, or $552 million, narrower than the $1.53-a-share loss forecast by a consensus of 21 Wall Street analysts polled by First Call/Thomson Financial.

Excluding one-time non-operating charges and a charge for stock-based compensation expenses, net loss for the quarter was $1.20 per share. Included in the company's results for the quarter is a loss of $27 million relating to restructuring charges for Commonwealth Telephone Enterprises, in which Level 3 has 46% ownership.

The company also said fourth quarter revenue was $433 million, up from $173 million last year.

The company's stock was lately trading up at $47 in premarket Instinet trading. It closed at $46.25 Thursday on the Nasdaq Stock Market.