Telecom Ramblings

Recession, recovery, whatever, it doesn’t seem to matter much when Equinix (NASDAQ:EQIX - chart, news, filings) reports.  This quarter includes two months of data from the Switch & Data acquisition, which boosts the numbers of course.  Revenues of $296.1 met guidance and expectations, even beating Paolo’s projections by a hair.  Adjusted EBITDA of $132.2M and earnings per share of $0.21 were a bit higher and lower, respectively, than forecast.  As for the Switch & Data acquisition, the integration is reported to be going well and is ahead of schedule.

Guidance for the second quarter was for revenues of $335-338M and EBITDA of $136-139M, which of course reflect a full quarter of the Switch & Data revenue.  For the full year, Equinix tightened its revenue guidance to $1.225B to $1.235B and raised its adjusted EBITDA guidance to $535-540M.  That’s about as tight as guidance gets I’d say.

On the expansion front, Equinix opened its $80M DC6 facility, adding 1,750 cabinets to the company’s extensive footprint in the Washington DC area.  And Equinix also announced plans to expand its SG2 facility in Singapore, adding another 850 cabinets in what will be Phase 3 of the buildout.  Phase 2 itself is just being completed this year, scheduled for September.  Phase 3 will then be complete next summer.