(Reuters) - High-speed communications services Asia Global Crossing Ltd., which scrapped plans to merge with its majority owner Global Crossing Ltd., posted a wider third-quarter loss amid the slowdown in the global telecommunications industry, but maintained its 2001 financial guidance.

Its third-quarter net loss widened to $88.1 million, or a loss of 15 cents a share, compared with a net loss of $45.9 million, or a loss of nine cents a share, a year ago.

Wall Street analysts expected Asia Global Crossing to post a loss in the range of 16 cents to 20 cents a share, with a mean forecast of a loss of 17 cents, according to research firm Thomson Financial/First Call. The company had previously said it would lose 16 cents to 18 cents in the quarter.

Total revenues totalled $33.6 million, compared with $28.1 million a year ago. The company in August said it expected its third-quarter revenues to be in the range of $30 million to $40 million.

"For six quarters, we've never missed a single number that we provided in guidance. We've never lowered guidance. So this is consistent with our performance," Asia Global Crossing Chief Executive John Legere told Reuters.

Legere credited new bandwidth commitments and an increase in recurring services revenue for allowing the company to meet its financial goals in the quarter.

Asia Global Crossing also maintained its previously announced guidance for the year after adjusting for the anticipated sale of IPC Asia, a provider of desktop trading systems.

The company said it still saw 2001 revenues of $115 million to $125 million and a per-share loss of 60 cents to 65 cents. It also said it expects to have capital expenditures of $900 million to $1 billion.

"We are ... closely monitoring the economic environment, and would caution against assuming that the company's results will be at the high end of the range," Chief Financial Officer Stefan Riesenfeld said.

Analysts had expected the company to post a loss of 60 cents a share in 2001, with a range of losses between 53 cents and 62 cents, according to First Call.

Tim Ghriskey, senior partner at Ghriskey Capital Partners, a Greenwich, Connecticut-based investment management firm that does not own stock in Asia Global Crossing, said the company's steadfast support of its current estimate means the bottom in the telecommunications sector is near or at hand.

"When companies begin to be able to make their (financial) guidance and don't feel compelled to lower future guidance, it's a positive sign that there is increased visibility," he said.

Asia Global Crossing said its net loss for the quarter included a $20 million write-down of a minority investment. Prior to the write-down, its loss in the quarter would have been $68.1 million, or 12 cents a share.

Asia Global Crossing was created in 1999 as a joint venture between Global Crossing , Microsoft Corp., and Softbank to build a high-speed communications network across Asia.

Asia Global Crossing and Global Crossing said last month they would explore a merger, but terminated discussions this week blaming current market conditions. The companies said they may later re-evaluate a merger.

Legere, who is also chief executive at Asia Global Crossing, said there are no plans for him to give up leadership at either company.

"We still have one network, one set of technology, one set of products, integrated operations and sales teams, and I have two very powerful management teams," he said. The two firms have separate boards, and neither has stated a desire for a change, he added.

The stock closed up 11 cents, or almost nine percent, at $1.35 in trading on the New York Stock Exchange, before the results were announced. The stock is well off its 52-week high of $6.12.

Meanwhile, technology services firm Computer Sciences Corp. and Global Crossing Ltd. said on Thursday they signed two wide-ranging telecommunications and services deals worth $700 million and $400 million respectively.

Under the pacts, Global Crossing said it will provide telecommunications services to Computer Sciences to run its wide area data and voice network in a 12-year contract worth $700 million.

Computer Sciences, in turn, said Global Crossing would pay it $400 million to manage its information technology infrastructure including all its mainframe, midrange and desktop computers, plus its help-desk and disaster recovery operations on a global basis for the next 10 years.

The agreement will involve the transfer of approximately 300 information technology professionals from Global Crossing to Computer Sciences, Computer Sciences said in a statement.

In addition, the two companies said they would jointly market managed data and telecommunications services to other businesses.