The loss from operations increased to $134.8 million, or 99 cents a share, from $53.2 million, or 51 cents, a year earlier. Revenue climbed to $185.4 million from $93.9 million.
PSINet has been investing heavily in its fiber-optic network and service centers to meet demand and establish itself in markets worldwide. The Herndon, Va.-based company said in November that it plans to make $1.4 billion in capital investments in the next three years.
In the quarter, PSINet took a charge for acquired research and development of $88.7 million, or 64 cents a share, resulting in a final loss of $223.5 million, or $1.63 a share.
A year earlier, charges of $30.4 million for acquired research and development, and $49 million related to arbitration, gave a final loss of $132.6 million, or $1.28 a share.
The company's expected loss from operations was $1.01 a share, the average estimate of analysts surveyed by First Call/Thomson Financial.
PSINet operates in the United States, Canada, Latin America, Europe and Asia.
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