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UPDATE 1-Terremark posts wider-than-expected Q2 loss

Mon Nov 9, 2009 5:13pm EST

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* Q2 adj loss $0.12/shr vs est loss $0.11/shr

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* Revenue up 17 pct at $69.8 mln

* Sees Q3 rev $73 mln-$76 mln, vs est $75.5 mln

Nov 9 (Reuters) - IT services provider Terremark Worldwide Inc (TMRK.O) posted a wider-than-expected quarterly loss, hurt in part by higher expenses, but forecast third-quarter revenue largely in line with market expectations.

The company expects third-quarter revenue of $73 million to $76 million.

Analysts on average were looking for revenue of $75.5 million, according to Thomson Reuters I/B/E/S.

Net loss attributable to common stockholders for the second quarter was $7.5 million, or 12 cents a share, compared with a loss of $8.4 million, or 14 cents a share, last year.

Excluding special items, the company posted a loss of 12 cents a share, missing analysts' estimates of a loss of 11 cents a share, according to Thomson Reuters I/B/E/S.

Revenue for the quarter rose 17 percent to $69.8 million, beating analysts' average estimate of $69.4 million.

Operating expenses rose 6 percent to $63.2 million.

The company also reaffirmed its 2010 revenue outlook of $290 million to $300 million.

Shares of Terremark, which have risen 45 percent over the last six months, were down slightly at $6.75 in after-market trading. They closed at $6.82 Monday on Nasdaq.

For alerts double click. [ID:nWNAB3187] (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Anne Pallivathuckal)



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