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Internap Network Services Corporation (INAP)

- NASDAQ
  • Tue, Apr. 28, 5:38 PM
    • Top gainers, as of 5:15 p.m.: CANF +12.0%. XPO +10.8%. AMCC +6.6%. CLF +4.8%. CRIS +4.2%.
    • Top losers, as of 5:15 p.m.: IG -38.4%. SSYS -15.2%. INAP -13.7%. WYNN -10.6%. BWLD -9.2%.
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  • Oct. 30, 2014, 11:17 AM
    • In addition to posting mixed Q3 results, Equinix (NASDAQ:EQIX) is guiding for Q4 revenue of $627M-$631M, below a $642M consensus.
    • However, the data center owner reported a 3.4K Q/Q increase in net billable cabinets for Q3, a record figure and (as noted on the CC) 70% above Equinix's 4-quarter average. Total billable cabinets stand at 96.1K - 44.9K in North America, 32.2K in Europe, 19K in Asia-Pac.
    • Likewise, cross-connects rose by 5.7K to 141.2K, and exchange ports by 143 to 2,557. Total customers rose by 60 to 4,700, with the termination rate falling to 1.9% from 2.7% in Q2 and 2.5% a year ago.
    • Gross margin was 68%, flat Q/Q and Y/Y. Adjusted EBITDA margin was 46% vs. 45% in Q2 and 46% a year ago. $43M was spent on buybacks. Equinix ended Q3 with $501M in cash, and $4B in debt.
    • Equinix is guiding for full-year adjusted discretionary free cash flow of $590M-$620M, and adjusted funds from operations (AFFO) of greater than $745M. REIT approval is still expected by year's end.
    • Several data center colocation, Web hosting, and interconnection services firms are also higher on a day the Nasdaq is down 0.5%. RAX +1.5%. INAP +3.5%. DLR +1.3%. CONE +1.4%.
    • Q3 results, PR, slides (.pdf), datasheet (.pdf)
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Company Description
Internap Corp is engaged in providing information technology infrastructure services. The Company provides services at data centers across North America, Europe and the Asia-Pacific region and through Internet Protocol service points.