USinternetworking Posts Revenue Gains

Application service provider USinternetworking Inc. today reported that revenue for the fourth quarter ended Dec. 31 reached $14.7 million, a 306% increase from the same period a year earlier and a 50% surge from thethird quarter.

But the ASP has yet to turn a profit, reporting a net loss of $34.3 million for the quarter. For the full fiscal year the company reported a net loss of $103.3 million on revenue of $35.5 million. The company disclosed that at the end of the year it had ASP contracts with 109 customers, up from seven at the close of 1998.