XO Narrows Q1 Losses to $4.5M

XO Communications Inc. (XOHO.OB) narrowed its losses and improved its sales numbers in the first quarter of 2009 as it secured more broadband data market share among enterprises, SMBs and other carriers.

The Herndon, Va.-based service provider said Monday its losses totaled $4.5 million, compared to losses of $39.9 million during the same three months a year earlier. Interestingly, though, XO made a $21.5 million profit in the fourth quarter of 2008.

First-quarter revenue, meanwhile, jumped $16.7 million to reach $377.8 million.

“XO continues to make strategic decisions that will position the company strongly in this competitive marketplace,” Carl Grivner, CEO of XO Holdings, said in a prepared statement. “We remain focused on optimizing our operations today for success in the future.”


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