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Level 3 Loss Narrower Than Expected

Level 3 Communications


said Friday that its loss for the fourth quarter was narrower than Wall Street had expected.

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

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, 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


trading. It closed at $46.25 Thursday on the

Nasdaq Stock Market