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February 9, 2010

Equinix Q4 revenues up 7% to $242.6m

Expects revenues to be in the range of $245 to $247m for Q1 2010

By CBR Staff Writer

Data centre services provider Equinix reported revenues of $242.6m for the fourth quarter of 2009, an increase of 7% compared to $190.7m for the same period last year. Recurring revenues, consisting primarily of colocation, interconnection and managed services were $231.5m for the fourth quarter, a 7% increase over the previous quarter.

The company posted an operating income of $50.8m for the fourth quarter of 2009, an increase compared to an operating income of $24.5m for the same period a year ago.

For the fourth quarter ended December 31, 2009, the company posted a net income of $17.7m, compared to $18.8m for the same period last year.

For the full year 2009, the company reported revenues of $882.5m, a 25% increase over 2008 revenues. Net income was $69.4m or diluted net income per share of $1.75 based on a weighted average share count of 39.7 million.

Steve Smith, president and CEO of Equinix, said: “Equinix closed out a solid year with a strong Q4, executing well and delivering on objectives across all three regions throughout 2009. The disciplined investments that we’ve been making in our capacity and scale, along with strong customer demand, position Equinix well for continued industry leading growth.”

The company anticipates revenues in the range of $245 to $247m for the first quarter of 2010. For the full year of 2010, total revenues are expected to be in the range of $1.05 to $1.07bn.

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