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
, 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