Terremark Posts First-Quarter Loss of $5.5 Mil

MIAMI-As Terremark Holdings, the locally-based builder had been privately-owned and profitable for 20 years prior to this past April when it merged with publicly-traded AmTec Inc. and took its American Stock Exchange listing as Terremark Worldwide. For the first quarter following the merger, the company has reported a loss of $5.5 million on revenue of $1.8 million.

While Terremark continues to be engaged in more conventional development activities such as its JV with Millennium Partners on the 63-story Four Seasons Hotel and Tower here, the company has rapidly diversified into constructing telecom hotels and other tech-related facilities.

Current Terremark ventures include the Technology Center of the Americas in Downtown Miami, which will house the NAP of the Americas providing high-speed, network connectivity in the US and Latin America. Another new development product is so-called co-location space where new companies offer communications service without duplicating the entire existing infrastructure.