Equinix Ups 2011 Guidance as Data Center Expansions Continue

Equinix reported revenues of $417.6 million for the third quarter, a 6% increase over the previous quarter and a 26% increase over the same quarter last year. This result included $17.9 million in revenues from ALOG (ALOG Data Centers do Brasil) for the quarter. Recurring revenues, consisting primarily of colocation, interconnection and managed services were $397.4 million for the third quarter, a 6% increase over the previous quarter and a 26% increase over the same quarter last year. Non-recurring revenues were $20.2 million in the quarter.


"Equinix achieved strong results in all three regions and we are on target to surpass our 2011 financial objectives,�? said Steve Smith, president and CEO of Equinix. “We plan to make additional investments in Platform Equinix so that we may continue to deliver value to our customers around the globe. Our goal is to generate over $3 billion in annual revenues in 2015, while creating significant returns for our shareholders from these investments."


The company also updated its guidance.


For the full year of 2011, total revenues are expected to be greater than $1,600.0 million. Total year cash gross margins are expected to range between 65% and 66%. Cash selling, general and administrative expenses are expected to approximate $320.0 million. Adjusted EBITDA for the year is expected to be greater than $730.0 million. Capital expenditures for 2011 are expected to be in the range of $645.0 to $665.0 million, comprised of approximately $115.0 million of ongoing capital expenditures and $530.0 to $550.0 million for expansion capital expenditures.


For the full year of 2012, total revenues are expected to be greater than $1,870.0 million. Adjusted EBITDA for the year is expected to be greater than $850.0 million. Capital expenditures for 2012 are expected to be in the range of $700.0 to $800.0 million, comprised of approximately $120.0 million of ongoing capital expenditures and $580.0 to $680.0 million for expansion capital expenditures.
http://www.equinix.com