Equinix meldt resultaten eerste kwartaal 2011
29/04
2011
2011
Resultaten eerste kwartaal
Equinix omzet in het eerste kwartaal geindigd op 31 maart 2011 was USD 363 miljoen een groei van 5 vergeleken met het vorige kwartaal en van 46 vergeleken met hetzelfde kwartaal vorig jaar. De adjusted EBITDA was USD 1673 miljoen een toename van 12 vergeleken met het vorige kwartaal en 43 vergeleken met hetzelfde kwartaal vorig jaar.
De omzetverwachting voor 2011 is verhoogd naar meer dan USD 1.525 miljoen de adjusted EBITDA voor 2011 is verhoogd naar meer dan USD 685 miljoen. Equinix verwacht in 2013 een jaaromzet te halen van ruim USD 2 miljard.
Steve Smith President en CEO van Equinix We zijn zeer tevreden met onze cijfers over het eerste kwartaal en zijn goed gepositioneerd om onze financile doelstellingen voor 2011 te halen. Of het nu gaat om cloud computing of mobiel en video verkeer de groei van internetgebruik drijft de vraag naar ons Platform Equinix. Daarom verhogen we onze investeringen in uitbreiding zodat we de behoeften van onze klanten aan netwerkdichte wereldwijde datacentercapaciteit kunnen vervullen en tegelijkertijd een goed rendement voor onze aandeelhouders genereren.
Meer details over de cijfers van het eerste kwartaal vindt u in het volledige Engelstalige persbericht onderaan dit bericht. U kunt het persbericht ook online vinden op httpwww.equinix.comnewspressna2011EquinixReportsFirstQuarter2011Results.
Nieuwe datacenters
Equinix heeft ook bekend gemaakt dat het een nieuw International Business Exchange IBX datacenter zal openen in New York en dat het haar datacenters in Chicago en Frankfurt zal uitbreiden. Deze uitbreiding van Platform Equinix wordt gedreven door de sterke vraag naar datacenterdiensten en interconnectie in deze markten.
Equinix investeert ongeveer USD 140 miljoen in haar nieuwe IBX datacenter in New York. De opening staat gepland voor het tweede kwartaal van 2012. Het bedrijf investeert ongeveer USD 30 miljoen in de uitbreiding van haar Chicago3 IBX datacenter en USD 70 miljoen in die van haar Frankfurt2 IBX datacenter.
Meer details vindt u in het Engelstalige persbericht over de uitbreiding van Platform Equinix op httpwww.equinix.comnewspressna2011EquinixExpandsGlobalPlatform.
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Bron Bex communicatie
Dit is een origineel persbericht. EZPress News Distribution B.V. www.ezpress.eu
Press release
EQUINIX REPORTS FIRST QUARTER 2011 RESULTS
Reported revenues of 363.0 million a 5 increase over the previous quarter and a 46 increase over the same quarter last year
Reported adjusted EBITDA of 167.3 million a 12 increase over the previous quarter and a 43 increase over the same quarter last year
Increased 2011 annual revenue guidance to greater than 1525.0 million and increased 2011 adjusted EBITDA guidance to greater than 685.0 million
Sets target to exceed 2.0 billion in annual revenues in 2013
REDWOOD CITY Calif. April 27 2011 Equinix Inc. Nasdaq EQIX a provider of global data center services today reported quarterly results for the quarter ended March 31 2011.
Revenues were 363.0 million for the first quarter a 5 increase over the previous quarter and a 46 increase over the same quarter last year. Recurring revenues consisting primarily of colocation interconnection and managed services were 343.9 million for the first quarter a 5 increase over the previous quarter and a 45 increase over the same quarter last year. Nonrecurring revenues were 19.1 million in the quarter.
We are extremely pleased with our first quarter results and are well positioned to achieve our 2011 financial objectives. Whether its cloud computing or mobile and video traffic Internet growth is propelling demand for Platform Equinix said Steve Smith president and CEO of Equinix. Due to this momentum we are increasing our expansion investments to provide the capacity required to support greater than 2 billion in revenues which we expect to achieve in 2013. We have a great opportunity for disciplined investment to meet our customers need for networkdense global data center capacity while generating strong returns for our shareholders.
Cost of revenues were 194.6 million for the first quarter a 1 increase over the previous quarter and a 46 increase over the same quarter last year. Cost of revenues excluding depreciation amortization accretion and stockbased compensation of 72.0 million were 122.6 million for the first quarter a 2 decrease from the previous quarter and a 44 increase over the same quarter last year. Cash gross margins defined as gross profit before depreciation amortization accretion and stockbased compensation divided by revenues for the quarter were 66 up from 64 for the previous quarter and unchanged from the same quarter last year.
Selling general and administrative expenses were 96.2 million for the first quarter essentially flat over the previous quarter and a 54 increase over the same quarter last year. Selling general and administrative expenses excluding depreciation amortization and stockbased compensation of 23.1 million were 73.1 million for the first quarter a 3 increase over the previous quarter and a 58 increase over the same quarter last year.
Restructuring charges were 0.5 million for the first quarter and the previous quarter which were primarily related to Switch and Data. Acquisition costs were 0.4 million for the first quarter and the previous quarter.
Interest expense was 37.4 million for the first quarter a 4 decrease from the previous quarter and a 46 increase over the same quarter last year. The Company recorded income tax expense of 11.1 million for the first quarter as compared to an income tax benefit of 2.8 million in the prior quarter and income tax expense of 8.7 million in the same quarter last year.
Net income for the first quarter was 25.1 million. This represents a basic net income per share of 0.54 and diluted net income per share of 0.53 based on a weighted average share count of 46.5 million and 47.2 million respectively for the first quarter of 2011.
Adjusted EBITDA defined as income or loss from operations before depreciation amortization accretion stockbased compensation restructuring charges and acquisition costs for the first quarter was 167.3 million an increase of 12 over the previous quarter and a 43 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 first quarter were 172.5 million of which 139.8 million was attributed to expansion capital expenditures and 32.7 million was attributed to ongoing capital expenditures. In addition the Company purchased a building in Paris for cash in March 2011 totaling 15.0 million.
The Company generated cash from operating activities of 115.2 million for the first quarter as compared to 122.9 million in the previous quarter and 99.8 million for the same quarter last year. Cash used in investing activities was 283.8 million in the first quarter as compared to cash provided by investing activities of 17.5 million in the previous quarter and cash used in investing activities of 31.6 million for the same quarter last year. Cash provided by financing activities was 26.1 million for the first quarter which was primarily related to the proceeds from employee equity awards and draw downs of certain loans payable.
As of March 31 2011 the Companys cash cash equivalents and investments were 456.7 million as compared to 592.8 million as of December 31 2010.
Company Metrics and Q1 Results Presentation
A presentation to accompany Equinixs Q1 Results conference call as well as the Companys NonFinancial Metrics tracking sheet have been posted on the Investors section of Equinixs web site at www.equinix.cominvestors
Business Outlook
For the second quarter of 2011 the Company expects revenues to be in the range of 376.0 to 378.0 million. Cash gross margins are expected to be approximately 65. Cash selling general and administrative expenses are expected to be approximately 76.0 million. Adjusted EBITDA is expected to be between 166.0 and 170.0 million. Capital expenditures are expected to be in the range of 220.0 and 240.0 million comprised of approximately 40.0 million of ongoing capital expenditures and between 180.0 and 200.0 million of expansion capital expenditures. The anticipated results of ALOG are not included in the Companys business outlook at this time.
For the full year of 2011 total revenues are expected to be greater than 1525.0 million. Total year cash gross margins are expected to range between 65 and 66. Cash selling general and administrative expenses are expected to approximate 315.0 million. Adjusted EBITDA for the year is expected to be greater than 685.0 million. Capital expenditures for 2011 are expected to be in the range of 615.0 to 665.0 million comprised of approximately 115.0 million of ongoing capital expenditures and 500.0 to 550.0 million for expansion capital expenditures. The anticipated results of ALOG are not included in the Companys business outlook at this time.
The Company will discuss its results and guidance on its quarterly conference call on Wednesday April 27 2011 at 530 p.m. ET 230 p.m. PT. A presentation to accompany the call will be available on the Companys website at www.equinix.cominvestors. To hear the conference call live please dial 2102348004 domestic and international and reference the passcode EQIX. A simultaneous live Webcast of the call will also be available at www.equinix.cominvestors.
A replay of the call will be available beginning on Wednesday April 27 2011 at 730 p.m. ET through May 28 2011 by dialing 4029981022. In addition the webcast will be available on the companys web site at www.equinix.cominvestors over the same time period. No password is required for the replay or the webcast.
About Equinix
Equinix Inc. Nasdaq EQIX connects businesses with partners and customers around the world through a global platform of high performance data centers containing dynamic ecosystems and the broadest choice of networks. More than 3350 enterprises cloud digital content and financial companies connect to more than 650 network service providers and rely on Platform Equinix to grow their business improve application performance and protect their vital digital assets. Equinix operates in 37 strategic markets across the Americas EMEA and AsiaPacific and continually invests in expanding its platform to power customer growth.
NonGAAP Financial Measures
Equinix provides all information required in accordance with generally accepted accounting principles GAAP but it believes that evaluating its ongoing operating results may be difficult if limited to reviewing only GAAP financial measures. Accordingly Equinix uses nonGAAP financial measures such as adjusted EBITDA cash cost of revenues cash gross margins cash operating expenses also known as cash selling general and administrative expenses or cash SGA adjusted EBITDA margins free cash flow and adjusted free cash flow to evaluate its operations. In presenting these nonGAAP financial measures Equinix excludes certain items that it believes are not good indicators of the Companys current or future operating performance. These items are depreciation amortization accretion of asset retirement obligations and accrued restructuring charges stockbased compensation restructuring charges and acquisition costs. Legislative and regulatory requirements encourage use of and emphasis on GAAP financial metrics and require companies to explain why nonGAAP financial metrics are relevant to management and investors.
Equinix excludes these items in order for Equinixs lenders investors and industry analysts who review and report on the Company to better evaluate the Companys operating performance and cash spending levels relative to its industry sector and competitors.
Equinix excludes depreciation expense as these charges primarily relate to the initial construction costs of our IBX centers and do not reflect our current or future cash spending levels to support our business. Our IBX centers are longlived assets and have an economic life greater than 10 years. The construction costs of our IBX centers do not recur and future capital expenditures remain minor relative to our initial investment. This is a trend we expect to continue. In addition depreciation is also based on the estimated useful lives of our IBX centers. These estimates could vary from actual performance of the asset are based on historic costs incurred to build out our IBX centers and are not indicative of current or expected future capital expenditures. Therefore Equinix excludes depreciation from its operating results when evaluating its operations.
In addition in presenting the nonGAAP financial measures Equinix excludes amortization expense related to certain intangible assets as it represents a cost that may not recur and is not a good indicator of the Companys current or future operating performance. Equinix excludes accretion expense both as it relates to its asset retirement obligations as well as its accrued restructuring charges as these expenses represent costs which Equinix believes are not meaningful in evaluating the Companys current operations. Equinix excludes noncash stockbased compensation expense as it represents expense attributed to equity awards that have no current or future cash obligations. As such we and many investors and analysts exclude this stockbased compensation expense when assessing the cash generating performance of our operations. Equinix excludes restructuring charges from its nonGAAP financial measures. The restructuring charges relate to the Companys decision to exit leases for excess space adjacent to several of our IBX centers which we did not intend to build out or our decision to reverse such restructuring charges or severance charges related to the Switch and Data acquisition. Equinix excludes acquisition costs from its nonGAAP financial measures. The acquisition costs relate to costs the Company incurs in connection with business combinations. Management believes such items as restructuring charges and acquisition costs are noncore transactions however these types of costs will or may occur in future periods.
Our management does not itself nor does it suggest that investors should consider such nonGAAP financial measures in isolation from or as a substitute for financial information prepared in accordance with GAAP. However we have presented such nonGAAP financial measures to provide investors with an additional tool to evaluate our operating results in a manner that focuses on what management believes to be our core ongoing business operations. Management believes that the inclusion of these nonGAAP financial measures provides consistency and comparability with past reports and provides a better understanding of the overall performance of the business and its ability to perform in subsequent periods. Equinix believes that if it did not provide such nonGAAP financial information investors would not have all the necessary data to analyze Equinix effectively.
Investors should note however that the nonGAAP financial measures used by Equinix may not be the same nonGAAP financial measures and may not be calculated in the same manner as that of other companies. In addition whenever Equinix uses such nonGAAP financial measures it provides a reconciliation of nonGAAP financial measures to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these nonGAAP financial measures to their most directly comparable GAAP financial measure.
Equinix does not provide forwardlooking guidance for certain financial data such as depreciation amortization accretion stockbased compensation net income loss from operations cash generated from operating activities and cash used in investing activities and as a result is not able to provide a reconciliation of GAAP to nonGAAP financial measures for forwardlooking data. Equinix intends to calculate the various nonGAAP financial measures in future periods consistent with how it was calculated for the periods presented within this press release.
Forward Looking Statements
This press release contains forwardlooking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forwardlooking statements. Factors that might cause such differences include but are not limited to the challenges of acquiring operating and constructing IBX centers and developing deploying and delivering Equinix services unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix a failure to receive significant revenue from customers in recently built out or acquired data centers failure to complete any financing arrangements contemplated from time to time competition from existing and new competitors the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness the loss or decline in business from our key customers and other risks described from time to time in Equinixs filings with the Securities and Exchange Commission. In particular see Equinixs recent quarterly and annual reports filed with the Securities and Exchange Commission copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forwardlooking information contained in this press release.
Equinix and IBX are registered trademarks of Equinix Inc. International Business Exchange is a trademark of Equinix Inc..
Press Contacts
Equinix Investor Relations Contact
Katrina Rymill
Equinix Inc.
650 5986583
krymillequinix.com
Equinix Investor Relations Contact
Jason Starr
Equinix Inc.
650 5137402
jstarrequinix.com
Equinix Media Contact U.S.
Scott Blevins
LEWIS PR
1 415 9924400
Datum: vrijdag 29 april 2011, 10:00
Bron: EZPress ICT
Categorie: Internet en ICT
Tags: Amsterdam, Chicago, Duitsland, Frankfurt, New York, Noord-Holland, Verenigde Staten
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