Global Crossing's ( GLBC) fourth-quarter loss widened on lower revenue, but the company reiterated that it expects to start producing positive cash flow in 2006. Global Crossing lost $80 million in the quarter, compared with $28 million a year ago. Revenue was $462 million, down from $573 million a year ago. Before interest, taxes, depreciation and amortization, the company lost $32 million in the fourth quarter of 2005, compared with $19 million a year ago. According to the company, Internet protocol traffic grew by 48% to 133 gigabytes per second at the end of 2005, and VoIP backbone traffic exceeded 7 billion minutes for the fourth quarter, and totaled more than 26 billion minutes for all of 2005. Adjusted EBITDA excluding non-cash stock compensation was a loss of $15 million in the fourth quarter, compared with a loss of $11 million a year ago. The company finished the quarter with unrestricted cash and equivalents of $224 million. "Based on Global Crossing's business projections, management expects that unrestricted cash on hand, together with proceeds from sales of IRUs and marketable securities and previously committed lease financing, will provide the liquidity needed to fund operations until the point in time during the second half of 2006 when the company expects to start generating positive cash flow," it said. The company said it's pursuing various financing initiatives, including a working capital facility in the U.S., lease and letter of credit financing in the U.K. and lease financing in the U.S. Global Crossing filed for bankruptcy protection in January 2002 amid a swirl of accounting questions and the dramatic decline of the telecom industry. The company emerged from bankruptcy in late 2003 with the financial support of Singapore Technologies Telemedia.