posted a first-quarter loss narrower than its own previous guidance and analyst expectations.

The company, owned by Global Crossing Ltd., Softbank Corp. and Microsoft Corp., said its net loss totaled $60.7 million, or 11 cents per share, compared with a loss of $43.9 million or 9 cents a year earlier, excluding the impact of sales-type leases.

Revenues totaled $9.5 million, compared to $800,000 in the year-earlier period, excluding sales-type leases.

Analysts on average had expected a loss of 16 cents per share, according to Thomson Financial/First Call. Global Crossing said on February 12 it expected a loss ranging from 14 cents to 16 cents per share.

Asia Global Crossing said it expects its second-quarter loss to range from 14 cents to 16 cents per share. For the year, it expects a loss ranging from 60 cents to 65 cents per share. -- Reuter