LONDON (Thomson Financial) - Paetec Holding Corp. reiterated its 2008
guidance Tuesday as the company's first-quarter net loss narrowed to $3 million
from $5.8 million in the same quarter a year ago.
The computer services company said adjusted earnings before interest, tax,
depreciation and amortization (EBITDA) rose 74% to $59.5 million.
Adjusted EBITDA excludes the impact of stock-based compensation, loss on
extinguishment of debt and integration and restructuring costs.
Revenue surged 85% to $358.8 million.
The mean estimate of analysts polled by Thomson Reuters was for earnings of
2 cents a share on revenue of $393.5 million.
For 2008, the company still sees ajdusted EBITDA between $294 million and
$304 million on revenue in a range of $1.65 billion and $1.69 billion.
On a pro forma basis, which would take into account the contribution of
recently-acquired McLeod USA as of January 1, the company sees adjusted EBITDA
between $300 million and $400 million on revenue between $1.7 billion and $1.74
billion.
For 2008, the mean Thomson Reuters estimate is for earnings of 23 cents a
share on revenue of $1.64 billion.
mark.cotton@thomsonreuters.com
mc1/pc
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