Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : John, Mike & Tom's Wild World of Stocks -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (342)	2/19/2000 9:17:00 AM
From: wlheatmoon	Read Replies (1) \| Respond to of 2850

good info...-g- GBLX..a SCREAMING BUY for the long term. -ng- February 19, 2000 Losses Triple at Global Crossing as It Builds a Fiber Optic Network By REUTERS lobal Crossing Ltd. said yesterday that its fourth-quarter loss more than tripled because of costs to expand its undersea fiber optic networks and absorb acquisitions. Global Crossing, based in Hamilton, Bermuda, said its pro forma fourth-quarter loss, adjusted for recent acquisitions, was $184 million, or 24 cents a share, compared with $54 million, or 7 cents a share, a year ago. Pro forma revenue rose about 6 percent, to $1.11 billion from $1.05 billion. Shares of Global Crossing were down $8.6875, to $52.375. Sales to consumers fell, but sales of communications services to other carriers and large corporations rose, the company said. Web hosting sales soared 196 percent. Global Crossing, which is building undersea and international fiber optic communications networks, has expanded aggressively through acquisitions and joint ventures. The company last year acquired the Frontier Corporation, a long-distance telephone company; Global Marine Systems, a cable installation and maintenance company; and Racal Telecom, the telecommunications arm of Racal Electronics of Britain. Over the last year, it has grown from 148 employees to more than 12,000 and has expanded the number of major cities reached by its network from 2 to more than 200. The company has been focusing on building its data and GlobalCenter business, which offers storage and maintenance facilities for Web sites and other Internet services like applications management. Global Crossing plans to have an initial public offering for less than 20 percent of GlobalCenter, said Dan Cohrs, the chief financial officer. The company also aims to have an offering of its Asia Global Crossing business later this year. Capital spending in 2000 will be above its 1999 capital spending, which was $3.5 billion to $4.0 billion, the company said. On Thursday, Global Crossing and Level 3 Communications Inc. agreed to share capacity on each other's trans-Atlantic cables.