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US LEC Reports Strong Fourth Quarter, Announces Deal with La Quinta Inns

CHARLOTTE- Fourth-quarter core revenues for the telecommunications firm amounted to $30.5 million, a 16% increase over the third quarter. For all of 2000, core business revenue rose to $101.8 million compared to $53.5 million for the year before.

By Brian Falk | Updated on February 23, 2001

CHARLOTTE-US LEC Corp., a provider of integrated voice, data, and Internet telecommunications services, reported that fourth-quarter core revenues were up 16% over the third quarter. The Charlotte-based company also announced a deal to provide services to La Quinta Inns, Inc. For the quarter ended December 31, 2000, core revenue, or that other than reciprocal compensation and related facilities revenue, increased to $30.5 million, compared to $26.3 million for the quarter ended September 30, 2000, a growth of 16%.

For the year, core business revenue increased to $101.8 million in 2000, compared with $53.5 million in 1999. Net revenues for the quarter and for the year, however, were down from 1999. Fourth-quarter net revenues after allowances were $33.6 million in 2000, down from $48.1 million in fourth quarter 1999. Twelve-month net revenues after allowances were $115.0 million in 2000, compared with $175.2 million in 1999.

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