Paetec posts 85% revenue increase for Q1

Revenue at Paetec Holding Corp was up 85 percent to about $358.8 million in the first quarter, growth that could be attributed to the acquisitions of McLeodUSA and U.S. LEC last year. The company had a net loss of about $3 million for the quarter, partly due to the loss of a major wholesale customer, as well as costs related to the acquisition. However, its loss was lower than the $5.8 million net loss it showed for the first quarter of 2007. Paetec said it is in the process of integrating McLeodUSA.

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