L3 2Q results

Level(3)'s financials for 2Q07 are out, but flat.

• Consolidated Revenue of $1.052 billion
• Net Loss of $202 million
• Consolidated Adjusted EBITDA of $193 million (Huh?)
• Completed acquisition of Servecast Limited, a provider of live and on-demand video management and streaming services in July 2007
• Revenues flat quarter to quarter
• The increase in Core Comm. Revenue was due primarily to the growth in long-haul transport services and Vyvx broadcast services.
• SBC Contract money decreased by just 8%
• Other Communications Services revenue declined by 15% to $71M during the quarter, primarily as a result of expected declines in managed modem services.
• As of 6/30/07, the company had cash and marketable securities of approx. $807M.