EXDS reports excellent earnings/rev's...It kills me,,I was home and she dipped down to 115,,,and I didn't have any extra cash..Damn it!!!
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Wednesday January 26, 4:35 pm Eastern Time
Company Press Release
Exodus Reports Fourth Quarter and 1999 Annual Results
SANTA CLARA, Calif.--(BUSINESS WIRE)--Jan. 26, 2000--Exodus Communications(TM), Inc. (NASDAQ:EXDS - news) today reported 1999 fourth quarter revenue of $101.4 million, a 49 percent increase over 1999 third quarter revenues of $68.0 million, and a 380 percent increase over the comparable period of the previous year.
Exodus® reported a net loss of $44.0 million for the fourth quarter, or $0.25 per share, excluding the amortization of intangibles and the impact of one-time acquisition costs of Service Metrics, Inc. and Global OnLine Japan Co., Ltd. (GOL). Net loss for the quarter was $52.9 million, or $0.30 per share, compared to a net loss of $31.5 million, or $0.19 per share, in the third quarter of 1999, and a net loss of $21.9 million, or $0.14 per share in the fourth quarter of 1998.
EBITDA loss (loss before net interest expense, income taxes, depreciation, amortization and other non-cash charges) excluding the Service Metrics one-time acquisition costs of $4.1 million, was $12.6 million for the fourth quarter of 1999. EBITDA loss for the fourth quarter of 1999 was $16.7 million compared to $7.5 million for the third quarter of 1999, and $12.1 million for the fourth quarter of 1998. Historical quarterly and annual comparisons include results of Service Metrics.
''Our revenue growth remained very strong, as demand for our services continued to grow dramatically,'' said Ellen M. Hancock, president and CEO of Exodus. ''In the fourth quarter, we added 540 Internet Data Center (IDC) customers, our largest quarterly increase ever, and our average annualized revenue per IDC customer grew from $176,000 in the third quarter to $196,000 in the fourth quarter.''
''Relative to EBITDA profitability, in the fourth quarter three IDCs - Chicago, our second Washington, D.C. IDC, and our first international site, London - all turned EBITDA positive earlier than we had originally planned,'' said Dick Stoltz, chief operating officer and chief financial officer. This brings the total number of EBITDA positive IDCs to 12 out of a total of 19.''
''We have also taken several key strategic actions recently to extend our managed and professional service offerings,'' said Hancock. ''Most notably, we acquired Service Metrics and announced plans to acquire KeyLabs. One important dimension of our growth strategy is to expand our service offerings along our customers' life cycles. With KeyLabs, we will have services to architect and test customers' sites, and with Service Metrics we can manage the ongoing performance monitoring and measurement.''
Revenues for the fiscal year ended December 31, 1999 increased 359 percent to $242.1 million compared to $52.7 million in the prior year. Exodus reported a net loss for 1999 attributable to common shareholders of $130.3 million, or $0.78 per share, compared to a net loss attributable to common shareholders of $69.3 million, or $0.55 per share, in the prior year. EBITDA loss for the year was $44.7 million compared to $41.9 million for the prior year.
About Exodus Communications
Exodus Communications(TM) is a leading provider of complex Internet hosting for enterprises with mission-critical Internet operations. The Company offers sophisticated system and network management solutions, along with technology professional services to provide optimal performance for customers' web sites. Through its Service Metrics(TM) subsidiary, Exodus® is a leading source of Web site performance monitoring and measurement services. Exodus manages its network infrastructure via a worldwide network of Internet Data Centers (IDCs) located in the United States, Europe and Asia Pacific. More information on Exodus can be found at www.exodus.net.
Forward Looking Statements
This press release contains forward-looking statements including statements related to the growth in Exodus' domestic and international business, revenues, number of IDCs, number of customers, types of customers, and revenue per customer, the expectation that Exodus will complete the pending acquisition of KeyLabs, and the ability of Exodus to provide solutions to its customers including expanded offerings along customers' life cycles. Actual results may differ materially due to a number of risks, including: the operational challenge of developing, deploying and delivering Exodus' services, particularly the opening of additional Internet Data Centers in 2000 and deploying new services from Service Metrics and KeyLabs; competition; risks associated with the ability to complete the acquisition of KeyLabs and the integration of companies acquired by Exodus; Exodus' ability to provide consistent services to support mission critical Internet operations; the ability to obtain fiber optic capacity; the ability to locate suitable sites for IDCs; and the availability of international network capacity. The matters discussed in this press release also involve risks and uncertainties described from time to time in Exodus' filings with the SEC. In particular, see Exodus' quarterly and annual reports filed with the SEC. Exodus does not assume any obligation to update the forward-looking information contained in this press release.
Exodus Communications, Exodus and Service Metrics are trademarks of Exodus Communications, Inc., and may be registered in certain jurisdictions. All other trademarks in this document are the property of their respective owners.
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