XO's Q4 09 report saw a typical mix of hits and misses heard at many carriers this year. While XO's profits of $13.3 million were down from $21.5 million in Q4 08, sales increased $.06 million from $375.2 million to $375.8 million.
Total 2009 revenue climbed three percent to $1.5 billion. At the same time, operational losses were down from $84.8 million in 2008 to $47.2 million in 2008, but net income was $21.8 million.
Not surprisingly, retail and wholesale broadband access, Ethernet, IP private and wavelength sales to businesses and carriers were up in 2009, while legacy and TDM services continued to decline. Notable expansions to meet these needs included the upgrade of its Inland Empire, CA network and extending its reach into Latin America and Europe.
"In 2009, XO continued to deliver high quality broadband services to businesses and carriers throughout the United States and, as a result, we have seen strong revenue growth, particularly within our core services offerings," said Carl Grivner, Chief Executive Officer of XO Holdings in a release. "In the year ahead, we'll continue to execute upon our business strategy and remain focused on advancing high-growth sectors of our business."
As it moves into 2010, XO also revealed that it wants to raise more funds to not only upgrade its nationwide fiber network, but possibly to purchase other CLECs.
For more:
- see the earnings release here (pdf)
- xChange also has this article
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