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Equinix Inc Issues Q3 2013 Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance


Wednesday, 24 Jul 2013 04:01pm EDT 

Equinix Inc announced that for third quarter of 2013, it expects revenues to be in the range of $538.0 to $542.0 million, which includes an approximate $6.0 million impact from the change in accounting estimate related to non-recurring installation fees and negative foreign currency headwinds of approximately $4.0 million. Adjusted EBITDA is expected to be between $236.0 and $240.0 million, which includes $11.0 million in professional fees primarily related to the REIT conversion. For fiscal 2013, it expects total revenues to a range between $2.135.0 million to $2.145.0 billion, or an as reported 13% year over year growth rate. On a normalized and constant currency basis, it expect 2013 revenue growth of approximately 15.5% compared to the prior year. Adjusted EBITDA for fiscal 2013 is expected to a range between $985.0 and $990.0 million, which includes an approximate $16.0 million impact due to the change in accounting estimate related to non-recurring installation fees, $6.0 million in incremental professional fees primarily related to the REIT conversion, and adjusting for $5.0 million of negative currency headwinds when compared to the rates used from prior guidance. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $561 million and EBITDA of $255 million for third quarter of 2013; revenue of $2.20 billion and EBITDA of $1.01 billion for fiscal 2013. 

Company Quote

228.2
3.53 +1.57%
18 Dec 2014