The loss widened to US$60.7 million, or US$0.11 a share, from US$43.9 million, or US$0.09, a year earlier, spokeswoman Madelyn Smith said. Sales rose to US$9.5 million from US$800,000 a year ago.
Asia Global, a venture of Global Crossing Ltd, Japan's Softbank Corp and Microsoft Corp, was formed in September 1999 and first sold shares to the public in October.
Including stakes in joint ventures and subsidiaries, the company's principal way of operating, Asia Global had cash revenue of US$205.5 million, more than double a year ago, and adjusted cash flow, or earnings before interest, taxes, depreciation and amortization, of US$147.6 million. Costs almost tripled to US$60.5 million from US$22.4 million.
Cash revenue is reported revenue plus the cash portion of deferred revenue for products where accounting rules specify the recognition of received revenue over 15 or 20 years, Asia Global said.
Asia Global Crossing shares were unchanged at US$7.05. They rose as high as US$7.30 after results were released, following the close of regular US trading.
Hong Kong-based Asia Global was expected to lose US$0.16 a share, according to three analysts polled by First Call/Thomson Financial.
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