Global Crossing reports Q4 profit

Telecommunications carrier Global Crossing said it swung to a small fourth-quarter profit on increased sales to internet and corporate networking customers, an Associated Press report said.

The company earned $1 million compared to a loss of $90 million in the 2006 quarter, the Associated Press report said.

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

Sales rose 26% to $616 million from $488 million, topping Wall Street estimates, the report said.

Analysts polled by Thomson Financial expected sales of $608.3 million, it added.

Sales for the company's 'invest and grow' category, which includes corporate networking and internet carrier services, grew 44% to $504 million, the report said.

The company narrowed losses 5% 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.

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