"It looks a lot worse than it is."
Translation:Ça a l'air bien pire que ça n'est.
If anyone is wondering about that "ne" at the end [n'est] and why the "pas" isn't there, this is because this is "le ne explétif"; this sentence is not in the negative. From what I recall, its usage is a bit literary (Though this shouldn't be confused with the "ne littéraire!), but it's still a good idea to be able to recognize it when you see it.
There's a detailed explanation of ne explétif here: http://french.about.com/od/grammar/a/negation_form_2.htm