Global Crossing Swings to 4Q Profit

The company earned $1 million compared to a loss of $90 million in the 2006 quarter.

The company, which has 54.6 million common shares outstanding, did not give a per-share breakdown of its earnings.

Sales rose 26 percent to $616 million from $488 million, topping Wall Street estimates. Analysts polled by Thomson Financial expected sales of $608.3 million.

Sales for the company's "invest and grow" category, which includes corporate networking and Internet carrier services, grew 44 percent to $504 million.

The company narrowed losses 5 percent for the 2007 fiscal year, also due to corporate network and Internet carrier sales. Global Crossing lost $310 million compared with a loss of $327 million in 2006.

Sales rose to $2.26 billion from $1.8 billion.

Sales for its "invest and grow" category grew 44 percent to $1.79 billion, while wholesale telephone communication revenue fell by 25 percent to $462 million. The company said it expects its wholesale communications section to stabilize this year.

Global Crossing runs large-scale communications cables across the world's oceans. It has come out of bankruptcy to offer Internet access, managed networking for multinational corporations and carrier services for telecom companies.