Terremark records earnings loss
Terremark Worldwide Inc. (Nasdaq: TMRK) traded down in after-hours trading on Thursday after reporting its results for its fourth quarter and fiscal year.
The operator of carrier-neutral integrated Internet exchanges and provider of managed IT infrastructure solutions recorded a net loss for the fourth quarter ended March 31, 2007, of $0.10 loss per share, or $4.5 million, compared with a loss of $0.50 loss per share, or $22.0 million, in the same quarter last year. Seven analysts polled by First Call/Thomson Financial expected a loss of $0.09 per share for the quarter on revenue of $30.42 million.
Total revenues for the quarter clocked in at $30.7 million, compared with $19 million in the same quarter one year ago. Total revenues for the fiscal year were $100.9 million, an increase of 61% over fiscal 2006.
For the quarter ending June 30, 2007, the Florida-based company expects revenue to range from $32.5 million to $33.5 million and EBITDA, as adjusted, to range from $6.0 million to $6.5 million. For the full 2008 fiscal year, Terremark expects revenues to range from $185 million to $190 million and EBITDA, as adjusted, to range from $38 million to $43 million.
Shares of Terremark traded down 3.45% or $0.25 to $7.00 at 5:20 p.m. ET on Thursday.
