XO Holdings narrows loss, boosts sales
Tuesday, August 12, 2008 - 2:48 PM EDT
Washington Business Journal - by Tierney Plumb Staff Reporter
XO Holdings Inc. had a better second quarter this year, due in part to data and Internet protocol revenues.
The Herndon-based communications provider reported a loss for the quarter ended June 30 of $29.7 million, or 18 cents per diluted share, compared to $36.4 million, or 22 cents per diluted share, for the same quarter a year ago.
XO Holdings (OTCBB: XOHO) generated revenues of $367.4 million for the second quarter, compared to $354.4 million for the second quarter of 2007.
During the quarter, XO Communications, a division of the company, began offering Internet protocol-based voice and data services to Charlotte, N.C.-area businesses and service providers.
On a year over year basis, its data and IP revenues grew over 32 percent.
“We continue to see the results from a number of initiatives that we have implemented in previous quarters, including the lighting of our long haul fiber network, developing the carrier/wholesale channel and expanding our portfolio of services to business customers,” said Carl Grivner, chief executive of XO Holdings. “Throughout the quarter, we have routinely added customers to our long haul and local loop networks, and we continue to see market opportunities to invest our capital.”
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