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AOL Latin America sales rise in 4Q

AOL Latin America (Nasdaq: AOLA) boosted revenue 55 percent from the third quarter.

After market close Monday, the Internet service provider reported a fiscal fourth quarter loss of $46.7 million, or 18 cents per share, assuming all preferred shares were converted to common stock following the company's recent IPO.

Shares of AOL Latin America traded at 8 in afterhours activity on the Island electronic communications network. AOL Latin America stock rose 1/16 to 7 7/8 in Monday's regular trading, prior to the release of quarterly results.

First Call has no consensus estimate available for AOL Latin America. Analysts for an newly public company's underwriters usually do not formally begin covering the stock until its IPO quiet period ends after a few weeks.

Fourth quarter revenue for the quarter ended June 30 increased to $4 million, a 55 percent improvement from the fiscal third quarter. Advertising and commerce generated about half of the company's fourth quarter revenue.

AOL Latin America reported an advertising and commerce backlog of $7.1 million as of June 30.

Also Monday, AOL Latin America said it now has more than 250,000 subscribers, compared to 123,000 at the end of June.

That includes users still in the free trial period offered by the service. AOL Latin America began its Mexican service in July, and an Argentinian unit last month.>