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November 3, 2010

Terremark Worldwide Q3 revenue up 21% to $85m

Posted net loss of $8m in Q3 fiscal 2011

By CBR Staff Writer

Terremark Worldwide, a provider of IT infrastructure services, has reported total revenues of $85m for the second quarter of fiscal 2011, an increase of 21% compared to $70m for the same quarter previous year.

The company’s operating income decreased to $6.3m for the quarter, as compared to $6.6m for the same period last year.

The loss before income taxes for the quarter was $6.96m, as compared to a loss of $6.91m for the same quarter in 2009.

For the quarter ended 30 September 2010, Terremark has posted net loss of $8m, or loss of $0.12 per diluted share, as compared to net loss of $7.2m, or $0.12 per diluted share, for the same period last year.

Terremark chairman and CEO Manuel Medina said the company’s exceptional performance in the second quarter is a direct result of their continued focus on execution and their leadership in providing best-in-class, highly secure infrastructure for enterprises and federal government agencies.

"Terremark’s ability to deliver hybrid offerings for the complex IT systems that our customers operate, with fully integrated, leading-edge cyber security tools to protect their data, continues to differentiate us in the market and drive our success," Medina said.

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For the third quarter of fiscal 2011, the company expects revenues to range between $89m and $91m and adjusted EBITDA to range from $26m to $27m.

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