Search
 

Terremark Loses $14.2M in Q3

MIAMI-The locally based data center designer/operator increased its revenue to $2.6 million in the quarter ended Dec. 31, 2002 compared to $2.4 million in the quarter ended Sept. 30. Its EBITDA improved to $4.2 million from $4.4 million.

By Alex Finkelstein | Updated on February 18, 2003

MIAMI-Terremark Worldwide Inc., the designer, builder and operator of integrated Tier-1 Network Access Points and data centers, showed a net loss of $14.2 million or a loss of six cents per share for Q3, ended Dec. 31, 2002, up from a net loss of $9.4 million, or a four cents per share, in Q2 ended Sept. 30.

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.

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.