Terremark chairman/CEO Manuel D. Medina says the increase in the net loss was "primarily related to a non-cash charge, resulting from the conversion of debt to equity in December 2002."
On the positive side, the Miami-based developer increased its data center revenue generated by the NAP of the Americas to $2.6 million from $2.4 million in the second quarter. Consolidated revenue was $2.8 million, down from $3.7 million. Medina says a drop of $1 million in revenue from construction activities caused the decrease.
The company's loss on earnings before interest, taxes, depreciation and amortization improved to $4.2 million from $4.4 million in previous period.
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