RE: EXDS
Revenues up nearly 400% over same period last year....not sure if that's "blow away" calibre...<gg>
EXODUS REPORTS FOURTH QUARTER AND 1999 ANNUAL RESULTS
Santa Clara, January 26, 2000 -
Exodus Communications?, Inc. (NASDAQ:EXDS) 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© 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© 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. |
