Interland, a provider of web hosting and online services, reported Wednesday that its third-quarter losses soared to $81.2 million, or $5.07 a share.
Some $66 million of the loss came from write downs of “goodwill” related to company acquisitions. The company said all goodwill had been removed from its balance sheet.
Interland (Nasdaq: INLD) said revenues were $25.7 million, down 1.3 percent from the previous quarter and 0.8 percent from one year ago.
The company reported a loss of $136.3 million for the same quarter in 2003.
Interland also announced a five-year agreement with Advanta Bank to promote website and online services to small businesses. The bank, which is a large issuer of business credit cards to small businesses, is Interland’s first channel partner.