Monday, July 26, 2010

Savvis Revenue Up 1% year-over-year, raises EBITDA guidance

by David Gross

This morning, Savvis (SVVS) reported revenue of $221 million for the quarter, and raised its annual EBITDA guidance from $210-$225 million, to $220-$240 million.

Operating cash flow was $32 million, free cash -$19 million. The company has over $700 million of debt, some of which came from financing its recent acquisiton of Fusepoint.

Managed services are slowly catching up to colocation, with quarterly revenue climbing to $73 milion from $67 million in the year ago quarter, while colo has held steady at $84 million.

All in all, no big surprises.

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