FOR THE LEVEL 3 BUSINESS, ON A STANDALONE BASIS, EXCLUDING THE EFFECTS OF THE TW TELECOM ACQUISITION THAT WAS COMPLETED ON OCT. 31, 2014:
- GREW CORE NETWORK SERVICES REVENUE BY 6.1 PERCENT FOR THE FULL YEAR 2014 COMPARED TO 2.9 PERCENT FOR THE FULL YEAR 2013, BOTH ON A CONSTANT CURRENCY BASIS
- GREW ADJUSTED EBITDA BY 19 PERCENT FOR THE FULL YEAR 2014, EXCLUDING ACQUISITION-RELATED EXPENSES, COMPARED TO THE COMPANY'S OUTLOOK OF 14 TO 18 PERCENT
- GENERATED STRONG FREE CASH FLOW OF $325 MILLION FOR THE FULL YEAR 2014 COMPARED TO THE COMPANY'S OUTLOOK OF $250 TO $300 MILLION
FOR THE TW TELECOM BUSINESS, ON A STANDALONE BASIS:
- FOR THE FULL YEAR 2014, TW TELECOM'S REVENUE GREW BY 7.7 PERCENT YEAR OVER YEAR
- FOR THE FULL YEAR 2014, TW TELECOM REPORTED M-EBITDA OF $579 MILLION, EXCLUDING ACQUISITION-RELATED EXPENSES
Level 3 Communications, Inc. (NYSE: LVLT) today reported results for the quarter and full year ending December 31, 2014.
"Level 3 had a solid 2014, delivering strong financial and operational results and completing the acquisition of tw telecom," said Jeff Storey, president and CEO of Level 3. "In 2015, we continue to focus on executing against our integration plans while investing to grow the business well into the future."
The reported results on a consolidated basis include two months of tw telecom's financial performance, as the company closed the tw telecom acquisition on Oct. 31, 2014.
Consolidated total revenue was $1.914 billion for the fourth quarter 2014, compared to $1.602 billion for the fourth quarter 2013 and $6.777 billion for the full year 2014 compared to $6.313 billion for the full year 2013.
On a consolidated basis, net income per share was $0.35 per share excluding adjustments for unusual items in the fourth quarter 2014; including those adjustments, the net income per share was $0.22 per share. The fourth quarter adjustments were comprised of a charge of $70 million or $0.23 per share of acquisition-related expenses for the tw telecom transaction, a charge of $53 million or $0.17 per share on the extinguishment of debt, a non-cash charge of $17 million or $0.06 per share for the impairment of an intangible asset and a non-cash income tax benefit in EMEA of approximately $100 million or $0.33 per share. This compared to net income per share of $0.06 for the fourth quarter 2013.
- GREW CORE NETWORK SERVICES REVENUE BY 6.1 PERCENT FOR THE FULL YEAR 2014 COMPARED TO 2.9 PERCENT FOR THE FULL YEAR 2013, BOTH ON A CONSTANT CURRENCY BASIS
- GREW ADJUSTED EBITDA BY 19 PERCENT FOR THE FULL YEAR 2014, EXCLUDING ACQUISITION-RELATED EXPENSES, COMPARED TO THE COMPANY'S OUTLOOK OF 14 TO 18 PERCENT
- GENERATED STRONG FREE CASH FLOW OF $325 MILLION FOR THE FULL YEAR 2014 COMPARED TO THE COMPANY'S OUTLOOK OF $250 TO $300 MILLION
FOR THE TW TELECOM BUSINESS, ON A STANDALONE BASIS:
- FOR THE FULL YEAR 2014, TW TELECOM'S REVENUE GREW BY 7.7 PERCENT YEAR OVER YEAR
- FOR THE FULL YEAR 2014, TW TELECOM REPORTED M-EBITDA OF $579 MILLION, EXCLUDING ACQUISITION-RELATED EXPENSES
Level 3 Communications, Inc. (NYSE: LVLT) today reported results for the quarter and full year ending December 31, 2014.
"Level 3 had a solid 2014, delivering strong financial and operational results and completing the acquisition of tw telecom," said Jeff Storey, president and CEO of Level 3. "In 2015, we continue to focus on executing against our integration plans while investing to grow the business well into the future."
The reported results on a consolidated basis include two months of tw telecom's financial performance, as the company closed the tw telecom acquisition on Oct. 31, 2014.
Consolidated total revenue was $1.914 billion for the fourth quarter 2014, compared to $1.602 billion for the fourth quarter 2013 and $6.777 billion for the full year 2014 compared to $6.313 billion for the full year 2013.
On a consolidated basis, net income per share was $0.35 per share excluding adjustments for unusual items in the fourth quarter 2014; including those adjustments, the net income per share was $0.22 per share. The fourth quarter adjustments were comprised of a charge of $70 million or $0.23 per share of acquisition-related expenses for the tw telecom transaction, a charge of $53 million or $0.17 per share on the extinguishment of debt, a non-cash charge of $17 million or $0.06 per share for the impairment of an intangible asset and a non-cash income tax benefit in EMEA of approximately $100 million or $0.33 per share. This compared to net income per share of $0.06 for the fourth quarter 2013.
