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Short Take: IXC reports third-quarter loss

IXC Communications, an alternative carrier recently acquired by Cincinnati Bell, posted a third-quarter net loss of $69 million, or $2.29 a share, which included a $7 million charge, compared with a loss of $15.3 million, or 85 cents a share, a year ago. Financial analysts predicted a loss of $2.27, according to First Call. Quarterly revenue fell to $170.1 million from $185.3 million. The Cincinnati Bell merger is expected to close during the fourth quarter. Separately, Cincinnati Bell reported third quarter net income of $29.8 million, or 22 cents a share, on revenue of $262.4 million. A year ago the local phone company posted income from continuing operations of $21 million, or 15 cents per share, on revenue of $222.6 million.

IXC Communications, an alternative carrier recently acquired by Cincinnati Bell, posted a third-quarter net loss of $69 million, or $2.29 a share, which included a $7 million charge, compared with a loss of $15.3 million, or 85 cents a share, a year ago. Financial analysts predicted a loss of $2.27, according to First Call. Quarterly revenue fell to $170.1 million from $185.3 million. The Cincinnati Bell merger is expected to close during the fourth quarter. Separately, Cincinnati Bell reported third quarter net income of $29.8 million, or 22 cents a share, on revenue of $262.4 million. A year ago the local phone company posted income from continuing operations of $21 million, or 15 cents per share, on revenue of $222.6 million.