Global Crossing's Legere: 2009 was not too bad

Like many service providers, Global Crossing was bracing itself for what it thought would be "a scary year," but instead the provider reported that in 2009 it beat analyst expectations with even smaller losses.

Global Crossing's CEO John Legere is upbeat about the company's prospects in 2010. A key focus this year will be on expanding its IP data services segment.

"I'm as proud as I've ever been to make our financial guidance for the year, and to give guidance again for 2010, which some people aren't doing," Legere said in an interview Tuesday evening. "We will outgrow the market and the competition."

During 2009, Global Crossing saw its cash flow increase by $71 million from $11 million, while its "Invest and Grow" segment grew six percent on a constant currency basis. However, Global Crossing saw a net loss of $37 million in Q4 loss and $145 million for 2009. Each of these losses were slightly lower than what Global Crossing reported in 2008.

For more:
- see this LightReading article

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