GUIText Component not showing

I have an existing GameObject, I add a GUIText component, and give it text. Nothing shows on the screen. If I create a GUIText GameObject it works fine, but it does not work when I add it as a component to an existing object. I've tried giving it a material (with Text Shader) and font, still just does not show up. Thanks!

EDIT: The Object to which I added the GUIText component is in the camera's view (very close to 0,0,0).

GUIText uses viewport coordinates on, i.e. 0.0 to 1.0 on x and y axes, z is used for ordering.