Global Crossing Loses $51M in Q4

Global Crossing Ltd. (GLBC) lost $51 million net in the fourth quarter of 2008, compared to net income of $1 million during the same period a year earlier.

Sales were down, too. Revenue amounted to $642 million, representing a sequential decline of $25 million, Global Crossing said. That was due in part to wholesale voice sales, which were down by $6 million sequentially.

Global Crossing further projected sales for the rest of 2009 to fall between $2.5 billion and $2.6 billion – Wall Street expects revenue of $2.64 billion.

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