Wednesday, April 22, 2009

Equinix Q1 Profit Triples at $15.5 Million

Equinix announced their first quarter 2009 results today. Proving that the demand for colocation and data center services is still high, they had some good numbers:

  • Increased quarterly revenues to $199.2 million, a 4% increase over the previous quarter and 26% increase over the same quarter last year.
  • "Capital expenditures in the first quarter were $75 million, of which $10.3 million was attributed to ongoing capital expenditures and $64.7 million was attributed to expansion capital expenditures"
  • For the second quarter of 2009, Equinix expects revenues to be in the range of $206 to $210 million
On their Investors web page there is a spreadsheet full of "non-financial" metrics that I found pretty interesting. For example:
  • "head count" is up 226 people from Q1 2008
  • It's funny how colo customers are 'somewhat' seasonal. They had 160 new customers in Q1 2008 and 161 in Q1 2009
  • 10 Gig Exchange ports has more than doubled in the past year
  • "Managed infrastructure Services % of recurring revenue" has not budged a single percentage since Q1 2008.
There is also a fairly detailed '2007-2010 Announced Expansions' PDF here.

The Seeking Alpha blog had a nice post on Monday on Equinix and the colocations sector.

When searching around for Equinix today I ran across a pretty interesting article at It was from December 2, 1999. It gives the historical perspective on just how far Equinix has come..... I still put Jay Adelson as one of my top "Tech People to Know" list. Here is a quote from that 1999 article:

"Equinix announced an impressive $280 million in financing today, including a $200 million debt offering by Salomon Smith Barney, Morgan Stanley Dean Witter and Goldman Sachs. The remaining $80 million came from its initial backers--Cisco Systems csco (nasdaq: csco - news - people), Microsoft msft (nasdaq: msft - news - people), and Benchmark Capital--as well as a slew of new and less likely investors like Netscape co-founder Marc Andreessen and E*Trade Group egrp (nasdaq: egrp - news - people). So far the company has raised just more than $315 million."

Equinix closed down today -0.19 at $62.26 -- but shares rose 2% in Wednesday's extended trading.

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