Global IP network operator Global Crossing has reported a net loss of $74m for the third quarter 2009, compared to a loss of $73m in the same quarter last year. Revenue was down 4% at $643m. Skip related content
It made an operating profit of $2m compared to a loss of $14m in the same period last year, while cash flow from operations was $52m. The company said UK revenue fell 23% to $117m, GC Impsat revenue grew 2% to $127m, and rest of the world grew 8% to $312m.
During the quarter, the company opened a data center in Amsterdam to provide virtual hosting applications and hosted managed services including monitoring, backup, security, server management, and storage. It also formed an alliance with Sun Microsystems to enable independent software vendors to commercialize high-yield service applications in the Andean, Caribbean and Central American regions.
For the nine-month period, the company reported a net loss of $104m, compared to a loss of $232m last year. Revenue was down 4% at $1.88bn.
John Legere, CEO at Global Crossing, said: "Global Crossing's core business continued to show year-over-year improvement on a constant currency basis, reflecting solid demand for our advanced IP-based solutions despite a challenging global economic environment. We remain confident in our ability to deliver the annual guidance we provided at the beginning of the year."
For fiscal 2009, the company expects revenue between $2.5bn and $2.6bn, OIBDA between $320m and $380m, and free cash flow between $50m and $100m.
