XO released its 2Q07 numbers. Again XOptions Flex is doing well (even though I think this is the 2nd time they announced: "Surpassed 10,000 XOptions Flex customers in the second quarter 2007) and supposedly so is VoIP O/T (up 4% from $7.2M to $7.5M). Total quarterly revenue is $352M.
They try to paint a rosy picture, but revenue is actually down 1% from last year, while the statements lists all the servcies that grew. Then what died to cause the losses?
"Wholesale network transport business signed with 65 new carrier, content provider and Internet-centric customers in the second quarter 2007. Announced agreements to provide wholesale network services to China Netcom USA, GameRail, NTT America and PCCW Global."
Long-term debt and accrued interest payable is $356M with other long-term liabilities at $64M.
Nextlink with just $300k in revenue is bleeding $2.4M. XO Holdings made $2.5M in CAPEX for Nextlink to bring in $300k, $100K more than last quarter.