XO Holdings profit edges up in Q2

XO Holdings' profits edged up in the second quarter, bucking economic trends and giving it the confidence to reiterate its earnings guidance for the year.

"We continue to invest in new network infrastructure, expanding our Ethernet footprint (and) developing new products, which will accelerate our transition to data and IP services," said CEO Carl Grivner. "As a result, we are well-positioned to continue expanding our customer base in high growth markets."

Xo said it had revenue of $367.4 million for the quarter, an increase of $13 million, or 3.7 percent from the second quarter 2007.

"Despite a weakening economy and ongoing industry consolidation, we are growing our revenue and EBITDA," said Grivner. "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. 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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