Telecommunications provider US LEC posted a $30 million loss in the fourth quarter, with much of the total due to a settlement with two other telecom providers over line charges.
US LEC said hit had reached a settlement with two of three inter-exchange carriers and would receive a $9 million payment in the first quarter of 2006. However, US LEC took a $23.3 million non-cash charge in the fourth quarter of 2005.
Reuters reported that US LEC settled with Sprint and MCI.
Revenues did exceed $100 million for the fourth quarter, up $8 million from a year earlier.
US LEC: www.uslec.com