The company's estimated net losses for year to date total slightly more than $31.1 million, considering the losses posted during the second and first quarter.
In its transition, however, the publicly traded provider of Internet infrastructure and managed services is still managing to amass strong revenue growth, posting nearly a 300% gain for the third quarter ended Dec. 31.
Terremark reported a a net loss of $1 million, or seven cents a share, on revenue of $15.1 million for the quarter, compared with a net loss of $1.9 million or three cents a share on revenue of $3.8 million for the same 1999 period.
The investment in the huge home to the fifth, tier-one Network Access Point, sort of a regional switching station for Internet traffic, also accounts for some of the $15 million in net losses the company posted for the quarter, the company's report states. Just for comparison, however, Terremark notes the third-quarter loss amounts to $6 million if interest, taxes, depreciation and amortization are excluded.
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