Global Crossing Expects Year Revenue to Top Estimates

Updated from 12:53 p.m. EDT

Global Crossing (GLBC Quote) swung to a fourth-quarter profit and offered rosy guidance for the full year.

The Florham Park, N.J., telecom company posted earnings of $1 million in the fourth quarter, compared to a loss of $90 million in the year-ago period. Revenue grew to $616 million, an increase of 26% from last year. The Thomson First Call average estimate was for revenue of $608 million.

Global Crossing, which filed for bankruptcy in 2002 and has since emerged to offer Internet access and carrier services for multinational corporations, said it expects full-year revenue in a range of $2.57 billion to $2.67 billion, compared with Wall Street's estimates for $2.51 billion.

Shares of Global Crossing were down 1.5% Wednesday at $19.70.

Know What You Own: Global Crossing operates in the diversified communication industry, and some of the other stocks in its field include AT&T (T Quote), BT Group (BT Quote), Verizon (VZ Quote), Qwest Communications (Q Quote) and Sprint (S Quote). These stocks were recently trading at ($35.52, -1.58%), ($43.45, +1.42%), ($34.62, -1.68%), ($4.91, -1.21%) and ($6.15, -0.32%) respectively. For more on the value of knowing what you own, visit TheStreet.com's Investing A-to-Z section.