BROOMFIELD, Colo. -- Level 3 Communications, Inc. (Nasdaq: LVLT - News) reported consolidated revenue of $944 million for the fourth quarter 2005, compared to $782 million for the third quarter 2005. For the full year 2005 consolidated revenue was $3.61 billion, compared to $3.64 billion in 2004. Communications revenue was $400 million in the fourth quarter, versus $364 million for the previous quarter. Communications revenue for the full year 2005 was $1.64 billion, compared to $1.68 billion in 2004. Information services revenue was $526 million in the fourth quarter, compared to $398 million for the previous quarter and $529 million for the same quarter last year. Information services revenue for the full year 2005 was $1.89 billion, compared to $1.86 billion in 2004. The consolidated and information services revenue provided above for all periods excludes the results of (i)Structure, which was sold in the fourth quarter 2005.

The net loss for the fourth quarter 2005 was $169 million, or $0.24 per share, compared to a net loss of $204 million or $0.29 per share for the previous quarter. Included in the net loss for the fourth quarter were: a net loss of $3 million as a result of the acquisition of WilTel Communications on December 23, 2005; and income of approximately $49 million or $0.07 per share associated with the gain from the sale of (i)Structure on November 30, 2005, and the results of its operations through the closing date of the sale. Net loss for the full year 2005 was $0.91 per share compared to $0.67 per share in 2004.

Consolidated Adjusted OIBDA(1) was $98 million in the fourth quarter 2005, compared to previously provided projections of $85 million to $105 million and $92 million for the previous quarter. Consolidated Adjusted OIBDA for 2005 was $509 million, compared to $510 million in 2004.

"We are pleased with our strong results this quarter. Our Core Communications Services including transport and infrastructure, wholesale IP & Data, and Voice grew 8 percent quarter over quarter, contributing to higher than projected communications revenue for the fourth quarter," said James Q. Crowe, CEO of Level 3. "The continuing growth in our communications business is a result of improved pricing, revenue recognized from previously awarded contracts and ongoing demand for our transport and IP services."

Level 3 Communications Inc. (NYSE: LVLT)