, the India-based Internet and networking company, reported a narrower-than-expected third-quarter loss Tuesday.
Sify lost $230,000, or 1 cent per American depositary receipt, in the quarter ended Dec. 31, compared with a loss of $2.1 million, or 6 cents per ADR, a year ago. Revenue rose 27% to $26.7 million. Analysts polled by Thomson First Call were forecasting a loss of 3 cents per ADR on sales of $28.54 million in the third quarter.
By segment, Sify's enterprise services division had revenue of $14.3 million in the latest quarter compared with $11.69 million a year ago. Access media revenue was $10.31 million in the latest quarter compared with $8.4 million a year ago.
Sify had a cash balance of $25.5 million at Dec. 31 after capital expenditures of $3.1 million during the quarter. This excludes roughly $37.5 million received in January 2006 from strategic investor Infinity Capital Ventures, L.P.
The company announced its structuring into three strategic business units: enterprise services, access media and portals, which would be supported by the core technology group. George Zacharias, president and chief operating officer is leaving Sify to join
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