Tuesday, April 25, 2006

Equinix Adds 61 New Customers, Raises Guidance

Equinix posted Q1 revenue of $64.9 million, a 5% increase over the previous quarter and a 33% increase over the same quarter last year. The company signed 61 new customers including McGraw-Hill, Trip Advisor and YouTube. The company raised its annual revenue guidance to $280.0 to $286.0 million and EBITDA guidance to $100.0 to $105.0 million.

Some other highlights:

Over 50 percent of Equinix's new bookings in the quarter came from existing customers including Akamai Technologies, Cisco Systems, IBM, Salesforce.com and Sony Computer Entertainment.

Based on a total cabinet capacity of approximately 26,000, the number of cabinets billing at the end of the quarter was approximately 14,750, or 57%, up from approximately 14,100 the previous quarter. On a weighted average basis, the number of cabinets billing was approximately 14,500, representing a utilization rate of 56%.

See also