NEW YORK (Bloomberg) - Bermuda-based Global Crossing Ltd., the network operator that survived one of the largest US corporate insolvencies, reported its first profit since emerging from bankruptcy court protection as new orders rose to a record.

Net income in the fourth quarter was $2 million, compared with a loss of $90 million a year earlier, the company said yesterday in a statement. Sales rose 26 percent to $616 million, beating the average estimate in a Bloomberg survey of analysts and marking the fifth straight quarter of growth.

Demand for equipment used to stitch together networks in different regions is rising as companies look for more capacity and spread operations across the globe. CEO John Legere said in January that industry consolidation had pushed orders to record levels.

Global Crossing, which operates out of Florham Park, New Jersey, rose $1.48, or eight percent, to $20 yesterday in Nasdaq Stock Market trading. The shares had fallen 9.3 percent this year before yesterday.

Analysts in the Bloomberg survey had projected $607.5 million in sales last quarter. Sales this year will climb to $2.57 billion to $2.68 billion, from $2.26 billion in 2007, the company forecast. Analysts predicted $2.52 billion.

Global Crossing has said it will provide Internet access for Go Daddy Group Inc., the world's largest domain-name registrar, and expand a private network for UK-based retailer Superdrug Stores plc. The company also said it is expanding products for private business networks, offering customers more options to give certain types of data, such as time-sensitive voice and video, priority over others.

Temasek Holdings Ltd., Singapore's state-owned investment company, is Global Crossing's largest shareholder, with 54 percent of its common shares, according to a January regulatory filing. It held 30 percent in 2006.