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Level 3 posts loss, closes genuity deal. (Business).

Level 3 Communications announced its fourth quarter 2002 results. The net loss for the quarter was $313 million, or $0.73 per share. Excluding certain one-time and extraordinary items, the net loss for the quarter was $240 million, or $0.56 per share, versus previously announced projections of a net loss per share of $0.70. One-time and extraordinary items included a $44 million extraordinary gain from debt for equity exchanges on non-convertible debt securities, a $68 million expense associated with debt for equity exchanges of convertible securities, a $89 million gain from the

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