Global Crossing UK Subsidiary 2Q Profit Grows
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GLBC
NEW YORK (AP) Global Crossing Telecommunications Ltd., a U.K. subsidiary of Global Crossing Ltd., reported a rise in second-quarter profit Thursday, helped primarily by favorable foreign exchange rates.
The telecommunications equipment and services provider earned 10 million pounds ($16.3 million) in the most recent quarter, compared with 1.2 million pounds a year earlier. Foreign exchange gains on the company's U.S. dollar-denominated senior notes helped boosted profits. Sales were down 4 percent year-over-year to 77.3 million pounds ($126.3 million), hurt by lower equipment sales. Global Crossing Ltd.'s U.S.-listed shares fell 4 cents to $11.45 in afternoon trading.- Loading Comments...
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