Level 3 Wary of VOIP Regulation
Level 3 announced that it has swung to a positive cash-flow in its third quarter, but it warned that hurdles around VOIP regulation need to be settled swiftly and fairly in order for the market to blossom (see Level 3 Reports Q3 Loss). The company reported a net loss for the quarter of $247 million, or 38 cents a share, compared with a loss of $299 million, or 73 cents a share, a year earlier. Revenues totaled $874 million, in line with its recently reduced guidance, but below its year-ago revenues of $1.05 billion.
The company said it cut 380 positions, or 21 percent of the work force during the quarter, which helped it achieve the $40 million in cash flow against a year-ago $34 million outflow.
During its earnings call Thursday, one analyst raised concerns about potential VOIP regulations and how these might affect Level 3’s business going forward.
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— Jo Maitland, Senior Editor, Boardwatch
When gov regulations make sense fot the public
safety that's one issue by it self.
When gov wants to strangle business with more regulations and pick consumer's pocketbooks that's something else.
Course we live in a 'FREE MARKET' place right?
If Edison were alive today and tried to invent
the light bulb we'd all be in the dark.