Global Crossing reports net loss

Global Crossing posted a $59 million net loss for the first quarter, which actually showed improvement over the $72 million net loss for the same period last year. Company officials also said that service demand has not been affected by the recession, and that enterprise service orders actually showed growth between December and March.

The company reported slower ordering trends in the fourth quarter, but now perceives that brief trend to have been a period of adjustment for enterprises as they assessed the changing economy. Still, first-quarter revenues showed a decline to $609 million, about $23 million less than the same quarter last year.

For more:
- Seeking Alpha has this earnings transcript

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