NEW YORK (Thomson Financial) - Savvis Inc. reported late Monday its
fourth-quarter loss narrowed to $2.5 million, or 5 cents a share, from a loss of
$6.8 million, or 13 cents a share, in the same period a year earlier.
The mean estimate of analysts polled by Thomson Financial was for earnings
of 2 cents a share for the quarter.
Adjusted earnings before interest, taxes, depreciation and amortization for
the quarter was $39.4 million.
Revenue for the period fell to $197.8 million from last year's $200.7
million. Analysts had expected sales of $198.1 million.
Management attributed the decline to the sale of data-center assets to
Microsoft at the end of June 2007 and the sale of CDN assets in January 2007.
For 2008, Savvis forecasts total revenue of $910 million to $925 million.
Analysts are looking for $906.3 million for the year.
The company sees adjusted EBITDA of $200 million to $210 million for the
year.
Separately, the St. Louis-based provider of information technology services
said Jonathan Crane is stepping down as President, effective March 1, and will
transition to a strategic advisory role through May. Crane has resigned from the
board effective Feb. 1.
The stock closed the regular session at $21.15.
Wanfeng Zhou
wz/gm
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