- Omzet komt uit op 296,1 miljoen dollar, een stijging van 19 procent ten opzichte van het vorige kwartaal en 39 procent ten opzichte van hetzelfde kwartaal vorig jaar.
- Aangepaste EBITDA van 132,2 miljoen dollar, een stijging van 13 procent ten opzichte van het vorige kwartaal en 33 procent ten opzichte van hetzelfde kwartaal vorig jaar.
- Verwachte omzet in 2010 tussen 1.225 miljoen dollar en 1.235 miljoen dollar. Verwachte EBITDA tussen 535 miljoen dollar en 540 miljoen dollar.
Amsterdam, 30 juli 2010 – Equinix, Inc. (Nasdaq: EQIX), leverancier van wereldwijde datacenterdiensten, maakt de resultaten van het tweede kwartaal 2010, eindigend op 30 juni 2010, bekend. Dit kwartaal omvat de resultaten van de overname van Switch & Data Facilities Company, Inc. (Switch and Data) op 1 mei 2010.
De omzet in het tweede kwartaal kwam uit op 296,1 miljoen dollar. Dit is een stijging van 19 procent ten opzichte van het vorige kwartaal en een stijging van 39 procent ten opzichte van hetzelfde kwartaal vorig jaar. Dit resultaat is inclusief 37,6 miljoen dollar aan kwartaalomzet van Switch and Data. Terugkerende omzet, voornamelijk bestaand uit colocatie-, interconnectie- en managed services, bedroeg 282,1 miljoen dollar in het tweede kwartaal. Dit is 19 procent meer dan in het vorige kwartaal en 39 procent meer dan in hetzelfde kwartaal van vorig jaar. De niet-terugkerende omzet bedroeg 14 miljoen dollar.
“Equinix zag sterke financiële resultaten in het tweede kwartaal in alle regio’s waar het bedrijf actief is. We liggen op koers voor wat betreft onze doelstellingen voor 2010”, zegt Steve Smith, CEO en President van Equinix. “De integratie van Switch and Data loopt voor op schema en onze expansie biedt ons de hoognodige capaciteit in veel van onze markten. Dit zorgt voor een goede uitgangspositie voor verdere groei.”
Het volledige Engelstalige persbericht vindt u hieronder.
EQUINIX REPORTS SECOND QUARTER 2010 RESULTS
- Reported revenues of $296.1 million, a 19% increase over the previous quarter and a 39% increase over the same quarter last year
- Reported adjusted EBITDA of $132.2 million, a 13% increase over the previous quarter and a 33% increase over the same quarter last year
- Tightened 2010 annual revenue guidance to $1,225.0 million to $1,235.0 million and increased 2010 adjusted EBITDA guidance to $535.0 million to $540.0 million
FOSTER CITY, CA — July 28, 2010— Equinix, Inc. (Nasdaq: EQIX), a provider of global data center services, today reported quarterly results for the quarter ended June 30, 2010. This quarter includes the results from the acquisition of Switch & Data Facilities Company, Inc. from May 1, 2010, which is referred to as the Switch and Data acquisition.
Revenues were $296.1 million for the second quarter, a 19% increase over the previous quarter and a 39% increase over the same quarter last year. This result included $37.6 million in revenues from Switch and Data for the quarter. Recurring revenues, consisting primarily of colocation, interconnection and managed services were $282.1 million for the second quarter, a 19% increase over the previous quarter and a 39% increase over the same quarter last year. Non-recurring revenues were $14.0 million in the quarter.
“Equinix saw strong Q2 financial results in all three of its operating regions and is on target to meet 2010 objectives,” said Steve Smith, CEO and President of Equinix. “The integration of Switch and Data is ahead of schedule, and our expansions are providing us much needed capacity in many of our key markets, which positions us well for further growth.”
Cost of revenues were $162.6 million for the second quarter, a 22% increase from the previous quarter and a 37% increase over the same quarter last year. Cost of revenues, excluding depreciation, amortization, accretion and stock-based compensation of $58.7 million, were $103.9 million for the second quarter, a 22% increase over the previous quarter and a 38% increase over the same quarter last year. Cash gross margins, defined as gross profit less depreciation, amortization, accretion and stock-based compensation, divided by revenues, for the quarter were 65%, down from 66% for the previous quarter and unchanged from the same quarter last year.
Selling, general and administrative expenses were $83.1 million for the second quarter, a 33% increase over the previous quarter and a 54% increase over the same quarter last year. Selling, general and administrative expenses, excluding depreciation, amortization and stock-based compensation of $23.1 million, were $60.0 million for the second quarter, a 30% increase over the previous quarter and a 56% increase over the same quarter last year.
Restructuring charges were $4.4 million for the second quarter, which were primarily related to the termination benefits attributed to certain Switch and Data employees. Acquisition costs were $5.8 million for the second quarter. Our acquisition costs for the second quarter were primarily related to professional fees from the Switch and Data acquisition. Integration costs were $1.2 million for the quarter and primarily related to consulting and IT related expenditures to integrate Switch and Data.
Net loss for the second quarter was $2.3 million. This represents a basic and diluted net loss per share of $0.05 based on a weighted average share count of 43.5 million for the second quarter of 2010.
Adjusted EBITDA, defined as income or loss from operations before depreciation, amortization, accretion, stock-based compensation, restructuring charges and acquisition costs for the second quarter, was $132.2 million, an increase of 13% over the previous quarter and a 33% increase over the same quarter last year.
Capital expenditures, defined as gross capital expenditures less the net change in accrued property, plant and equipment in the second quarter, were $148.7 million, of which $121.8 million was attributed to expansion capital expenditures and $26.9 million was attributed to ongoing capital expenditures.
The Company generated cash from operating activities of $56.9 million for the second quarter as compared to $99.8 million in the previous quarter and $78.7 million the same quarter last year. Cash used in investing activities was $327.4 million in the second quarter as compared to $31.6 million in the previous quarter and $204.1 million for the same quarter last year. Cash used in financing activities was $252.2 million primarily related to the repayment of certain mortgage and loans payable.
As of June 30, 2010, the Company’s cash, cash equivalents and investments were $722.0 million, as compared to $1,185.1 million as of March 31, 2010, a net change of $463.1 million, including cash used to acquire Switch and Data and the repayment of certain mortgage and loans payable.
Company Metrics and Q2 Results Presentation
A presentation to accompany Equinix’s Q2 Results conference call, as well as the Company’s Non-Financial Metrics tracking sheet, have been posted on the Investors section of Equinix’s web site at www.equinix.com/investors
Business Outlook
For the third quarter of 2010, the Company expects revenues to be in the range of $335.0 to $338.0 million. Cash gross margins are expected to range between 63% and 64%. Cash selling, general and administrative expenses are expected to approximate $75.0 million. Adjusted EBITDA is expected to be between $136.0 and $139.0 million. Capital expenditures are expected to be between $185.0 to $210.0 million, comprised of approximately $45.0 million of ongoing capital expenditures and $140.0 to $165.0 million of expansion capital expenditures.
For the full year of 2010, total revenues are expected to be in the range of $1,225.0 to $1,235.0 million. Total year cash gross margins are expected to be approximately 64%. Cash selling, general and administrative expenses are expected to approximate $250.0 million. Adjusted EBITDA for the year is expected to be between $535.0 and $540.0 million. Capital expenditures for 2010 are expected to be in the range of $530.0 to $580.0 million, comprised of approximately $110.0 million of ongoing capital expenditures and $420.0 to $470.0 million for expansion capital expenditures.
The Company will discuss its results and guidance on its quarterly conference call on Wednesday, July 28, 2010, at 5:30 p.m. ET (2:30 p.m. PT). A presentation to accompany the call will be available on the Company’s website at www.equinix.com/investors for thirty days. To hear the conference call live, please dial 773-756-4788 (domestic and international) and reference the passcode (EQIX). A simultaneous live Webcast of the call will also be available at www.equinix.com/investors.
A replay of the call will be available beginning on Wednesday, July 28, 2010 at 7:30 p.m. (ET) through August 26, 2010 by dialing 203-369-0872 and referencing the passcode (2010). In addition, the webcast will be available on the company's web site at www.equinix.com/investors. No password is required for the webcast.
Over Equinix
Equinix, Inc. (Nasdaq: EQIX) biedt wereldwijde datacenterdiensten die de vitaliteit van de informatiegestuurde wereld waarborgen. Wereldwijde ondernemingen, contentproviders, financiële instellingen en meer dan 595 netwerkserviceproviders vertrouwen op het inzicht en de expertise van Equinix voor de koppeling en bescherming van hun belangrijkste informatiemiddelen. Equinix runt 49 International Business Exchange™-datacenters (IBX®), verdeeld over achttien markten in Noord-Amerika, Europa en Azië-Pacific. Belangrijke informatie over Equinix is te vinden op de investeerderspagina op www.equinix.com/investors. Wij raden u aan de website van Equinix regelmatig te bezoeken voor de meest actuele informatie.
Dit persbericht bevat toekomstgerichte verklaringen waaraan risico’s en onzekerheden verbonden zijn. Daadwerkelijke resultaten kunnen afwijken van de verwachtingen die zijn uitgesproken in dergelijke toekomstgerichte verklaringen. Factoren die zulke afwijkingen kunnen veroorzaken, omvatten, maar zijn niet beperkt tot de uitdagingen van het verkrijgen, bedienen en bouwen van IBX-centra en het ontwikkelen, uitrollen en leveren van Equinix-services; onvoorziene kosten of problemen in verband met de integratie in Equinix van bedrijven die we hebben aangekocht; het niet slagen in het ontvangen van significante inkomsten van klanten in onlangs gebouwde of aangekochte datacenters; het niet slagen in het voltooien van financieringen die periodiek worden overwogen; concurrentie van bestaande en nieuwe concurrenten; het vermogen om voldoende cashflow te genereren of op een andere manier tegoeden te verkrijgen om nieuwe, openstaande schuldenlast te betalen; het verliezen of teruglopen van opdrachten van onze belangrijkste klanten en andere risico’s die Equinix periodiek indient bij de Securities and Exchange Commission. Zie in het bijzonder de recentelijke kwartaal- en jaarrapporten die Equinix heeft ingediend bij de Securities and Exchange Commission; kopieën hiervan zijn op verzoek bij Equinix verkrijgbaar. Equinix aanvaardt geen enkele verplichting tot het bijwerken van de toekomstgerichte informatie in dit persbericht. Equinix en IBX zijn geregistreerde handelsmerken van Equinix, Inc. International Business Exchange is een handelsmerk van Equinix, Inc.
Perscontacten
Media Investor Relations
Annemieke van Baal Jason Starr
Lammers van Toorenburg Benelux PR Equinix, Inc.
Telefoon: +31 (0)30 656 5070 Telefoon: +1 (650) 513-7402
E-mail: equinix@lvtpr.nl E-mail: jstarr@equinix.com
Michiel Eielts
General Manager Equinix Netherlands
Telefoon: +31 (0)20 753 7950
E-mail: michiel.eielts@eu.equinix.com