Auric ... you loser. EXDS did GREAT.. as expected!!
EXODUS REPORTS SECOND QUARTER RESULTS
SANTA CLARA, Calif. - July 19, 2000 -
Exodus Communications™, Inc. (NASDAQ: EXDS) today reported second quarter 2000 revenues of $179.6 million, a 34 percent increase over first quarter 2000, and a 321 percent increase over second quarter 1999.
Exodus reported an $8.6 million EBITDA profit (earnings before net interest expense, income taxes, depreciation, amortization and other noncash charges) for second quarter 2000, compared to a $1.7 million EBITDA profit for the first quarter 2000.
Net loss was $42.5 million in second quarter 2000, or $0.10 per share, excluding the impact of amortization of goodwill and intangible assets. Total net loss for the quarter was $51.3 million, or $0.12 per share, compared with a net loss of $58.4 million, or $0.16 per share, in first quarter 2000, and a net loss of $22.6 million, or $0.07 per share, in second quarter 1999. All references to earnings per share and share count set forth in this press release are adjusted to reflect Exodus' recent two-for-one stock split which was effected on June 20, 2000.
"Not only was the second quarter another exceptional period for Exodus from a revenue, EBITDA and EPS standpoint, but it also marked achievements in a number of key metrics in our business," said Ellen M. Hancock, chairman and CEO. "In the second quarter, our average revenue per IDC customer increased to $259,000 compared to $220,000 in the first quarter 2000. Additionally, we surpassed the 3,000th IDC customer mark, ending the period with 3,333 IDC customers."
"The second quarter was also an extremely strong quarter from a new bookings standpoint, which is evidence of the growing demand for our services," said Hancock. "Exodus booked $245 million of new annualized recurring revenue in the second quarter. Assuming the backlog is installed today and combined with our current installed customer base, the annualized revenue run rate of recurring revenue would exceed $877 million, which represents a 39 percent increase from the prior quarter."
"As for improvement to our financial performance, both EBITDA and gross margin dollars increased significantly," said R. Marshall Case, executive vice president, finance and chief financial officer. "Contributing to these results were three new Internet Data Centers - Austin, Boston 2 and New Jersey 2 - which turned EBITDA positive ahead of our same store model of 15 months. Our second quarter performance is evidence of the strength of our business model and management's ability to execute." |
