Data Center Links: Equinix Q1 Profit Triples at $15.5 Million

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 Forbes.com. 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."