Level 3 (LVLT) missed Wall St.’s EPS estimates and offered guidance that was lackluster.
The company’s revenue went no where. LVLT reported consolidated revenue of $1.052 billion for the second quarter 2007, compared to consolidated revenue of $1.056 billion for the first quarter 2007.
Consolidated Adjusted EBITDA, the way LVLT likes to measure its bottom line, was $193 million in the second quarter 2007, compared to $170 million for the first quarter 2007.
The company guided for Q3 revenue of just over $1 billion, another quarter of little or no growth. Consolidated Adjusted EBITDA is expected to be just above $210 million.
The company’s stock was off 5% in the pre-market.
What a nightmare.
Douglas A. McIntyre