XO Communications reported Q4 revenue of $299.4 million, down from $343.0 million for this same period in 2001. Annual revenue for 2002 was $1,259.9 million, consistent with total revenue in 2001 of $1,258.6 million. Net loss for Q4 was $176.5 million compared to $681.9 million for the fourth quarter of 2001. Of the total revenue reported in Q4 2002, $157.3 million was derived from voice services, which includes revenue from local, long distance and other enhanced voice services, and $108.0 million was attributable to data services, which includes Internet access, network access, and web hosting. Revenue from integrated voice, data and other services totaled $34.1 million in Q4. As of December 31, 2002, XO had approximately $561.0 million in cash and marketable securities, which the company expects will be sufficient to get to profitability.
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- On January 16, 2003, XO Communications emerged from Chapter 11 bankruptcy protection with its long-term debt reduced from $5.1 billion to $500 million. Financier Carl Icahn has assumed the role of Chairman of the Board, and companies under his control hold more than 80% of the stock in the reorganized XO. Creditors hold the remaining shares.