The Miami-based provider of Internet infrastructure and managed services reported Monday a net loss of $104 million, or 55 cents a share, on total operating revenue of $40.2 million for the 12 months ended March 31, compared with a net loss of $6 million, or nine cents a share, on total operating revenue of $15.4 million for the same period in 2000.

Shareholders reacted passively to the losses, with shares closing down 11 cents at 94 cents on volume of 160,400, just 44 cents of the 52-week low of 50 cents a share. The issue has traded as high as $5 a share over the same time period.

Operating expenses for the year increased to $56.2 million, up from $20.4 million for the same period last year. Construction contract expenses accounted for about $20.4 million of the total, with general and administrative costs accounting for another $19.9 million.