Search
 

Terremark Worldwide Still Bleeding

MIAMI-The owner/operator of NAP of the Americas, a telecommunications network, lost $13.3 million or seven cents per weighted average common share in the second quarter ended Sept. 30 compared to a loss of $11.7 million or six cents per share for the same 2000 period.

By Alex Finkelstein | Updated on November 15, 2001

MIAMI-Locally based Terremark Worldwide Inc., still banking on the future success of its multimillion-dollar NAP of the Americas telecommunications network, lost $13.3 million or seven cents per weighted average common share in the second quarter ended Sept. 30. In the same period last year, the loss was $11.7 million or six cents per share.

Terremark’s fiscal year begins in April.

Consolidated revenue for the quarter was $4.4 million compared to $8 million in the same period last year. The company attributed the revenue drop to a $4 million decrease generated by non-core activities. The loss was partially offset by $400,000 of data center revenue from the NAP.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.