Terremark reports 17 percent increase in 1Q revenues

Fri. August 07, 2009; Posted: 05:03 PM

Aug 07, 2009 (Culpeper Star-Exponent - McClatchy-Tribune Information Services via COMTEX) -- TWW | Quote | Chart | News | PowerRating -- Miami-based Terremark Worldwide Inc., which operates a campus in Culpeper, reported a 17 percent rise in first-quarter revenues for fiscal year 2010.

Total 1Q revenues were $65.8 million, the company said in a release Thursday, compared to $56.1 million a year ago.

In FY-08, Terremark reported 1Q profits of $35.2 million.

"As Terremark's performance in the first fiscal quarter shows, our company's proven ability to deliver reliable, world-class solutions for the mission-critical needs of our customers and to focus on the execution of our strategic plan continue to drive strong quarterly results," said Manuel D. Medina, chairman and CEO of Terremark.

The company, a global provider of IT infrastructure, added 46 new customers during the quarter ended June 30, for a total of 1,114 customers.

Construction of a second data center at Terremark's NAP of the Capital Region campus -- as the facility off of McDevitt Drive east of downtown Culpeper is called -- continues on budget and on schedule for completion in the fourth quarter of FY-10, according to the release.

The company has secured contracts for 30 percent of the second data-center's 50,000 square feet of sellable space.

Terremark's Culpeper campus opened last summer. It is designed to accommodate five data centers and a 72,000-square-foot office building.

Last month in Culpeper, Terremark officials celebrated the end of a yearlong, $30 million project bringing a state-of-the-art fiber optic network to the facility.

The 130-mile "dark fiber" network links Culpeper to the nationwide network of Fiber-Light, an Atlanta-based technology and communications firm that managed the high-tech project.

Terremark expects to break ground on an expansion of its facility in Santa Clara, Calif. in the near future, according to the recent company release.

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