0001193125-12-424554.txt : 20121016 0001193125-12-424554.hdr.sgml : 20121016 20121016160157 ACCESSION NUMBER: 0001193125-12-424554 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20121016 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20121016 DATE AS OF CHANGE: 20121016 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EQUINIX INC CENTRAL INDEX KEY: 0001101239 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 770487526 STATE OF INCORPORATION: DE FISCAL YEAR END: 0101 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-31293 FILM NUMBER: 121146271 BUSINESS ADDRESS: STREET 1: ONE LAGOON DRIVE, 4TH FLOOR CITY: REDWOOD CITY STATE: CA ZIP: 94065 BUSINESS PHONE: (650) 598-6000 MAIL ADDRESS: STREET 1: ONE LAGOON DRIVE, 4TH FLOOR CITY: REDWOOD CITY STATE: CA ZIP: 94065 8-K 1 d425281d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event Reported): October 16, 2012

 

 

EQUINIX, INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Delaware   000-31293   77-0487526

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification Number)

One Lagoon Drive, 4th Floor

Redwood City, California 94065

(650) 598-6000

(Addresses of principal executive offices)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 7.01. Regulation FD Disclosure

On October 16, 2012, Equinix, Inc. (“Equinix”) posted certain historical financial results for 16 data centers held for sale as of September 30, 2012 (the “16 Data Centers”) to its Investor Relations page at www.equinix.com (the “Results”).

The 16 Data Centers were originally acquired on April 30, 2010. The 16 Data Centers are classified as held-for-sale as of September 30, 2012 and will be reflected as discontinued operations in Equinix’s statements of operations for the historical periods noted in the Results and, prospectively, until the sale is closed.

A copy of the Results is attached hereto as Exhibit 99.1. The attached exhibit is provided under this Item 7.01 of Form 8-K and is furnished to, but not filed with, the Securities and Exchange Commission.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

 

99.1    Historical Financial Results for 16 Data Centers Held for Sale as of September 30, 2012.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    EQUINIX, INC.
DATE: October 16, 2012     By:  

    /s/ KEITH D. TAYLOR

      Keith D. Taylor
      Chief Financial Officer


EXHIBIT INDEX

 

Exhibit
Number

  

Description

99.1    Historical Financial Results for 16 Data Centers Held for Sale as of September 30, 2012.
EX-99.1 2 d425281dex991.htm HISTORICAL FINANCIAL RESULTS Historical Financial Results

Exhibit 99.1

 

Worldwide Corporate Headquarters    LOGO
One Lagoon Drive   
4th Floor   
Redwood City, CA 94065   
www.equinix.com   
+1 650 598 6000 MAIN   
+1 650 598 6900 FAX   

As announced on September 4, 2012, Equinix plans to sell 16 International Business Exchange data centers (the “16 Data Centers”) located throughout the United States to an investment group consisting of 365 Main, Crosslink Capital and Housatonic Partners in a transaction valued at approximately $75 million. After the close of the transaction, 365 Main will own and manage the 16 Data Centers, led by industry veterans Chris Dolan, CEO, and Jamie McGrath, COO. With the announcement of this transaction, the financial results derived from these 16 Data Centers will be excluded from Equinix’s continuing operations for the quarter and will be reflected as discontinued operations. As a result, Equinix will retroactively adjust its financial results for all applicable prior periods beginning April 30, 2010, the date the company acquired these assets, to reflect them as discontinued operations as required under accounting principles generally accepted in the United States of America.

The transaction is expected to close in Q4 2012, subject to customary closing conditions. However, there can be no assurances that the transaction will close in Q4 2012, or at all.


EQUINIX, INC.

SELECTED FINANCIAL DATA OF THE 16 DATA CENTERS HELD FOR SALE

(in thousands)

(unaudited)

The following table presents certain historical financial results for the 16 data centers held for sale as of September 30, 2012 (“the 16 Data Centers”). The 16 Data Centers were originally acquired on April 30, 2010. The 16 Data Centers are classified as held-for-sale as of September 30, 2012 and will be reflected as discontinued operations in Equinix’s statements of operations for the historical periods noted below and, prospectively, until the sale is closed. Equinix will provide details for the quarter ended September 30, 2012 on the October 30th, 2012 earnings call.

 

     Three Months Ended  
     June 30,
2012
    March 31,
2012
    December 31,
2011
    September 30,
2011
    June 30,
2011
    March 31,
2011
    December 31,
2010
    September 30,
2010
    June 30,
2010 (2)
 

Recurring revenues

   $ 8,790      $ 8,731      $ 8,969      $ 9,137      $ 9,140      $ 8,862      $ 8,905      $ 8,759      $ 5,968   

Non-recurring revenues

     225        224        227        256        249        218        185        194        109   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Revenues

     9,015        8,955        9,196        9,393        9,389        9,080        9,090        8,953        6,077   

Cost of revenues

     7,903        7,981        8,069        8,429        9,325        7,967        8,642        8,331        5,538   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     1,112        974        1,127        964        64        1,113        448        622        539   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross margin

     12     11     12     10     1     12     5     7     9
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash cost of revenues (1)

     4,223        4,225        4,309        4,593        5,467        4,131        4,522        4,578        3,206   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash gross profit

   $ 4,792      $ 4,730      $ 4,887      $ 4,800      $ 3,922      $ 4,949      $ 4,568      $ 4,375      $ 2,871   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash gross margin

     53     53     53     51     42     55     50     49     47
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) We define cash cost of revenues as cost of revenues less depreciation, amortization, accretion and stock-based compensation as presented below:

 

Cost of revenues

   $ 7,903      $ 7,981      $ 8,069      $ 8,429      $ 9,325      $ 7,967      $ 8,642      $ 8,331      $ 5,538   

Depreciation, amortization and accretion expense

     (3,575     (3,678     (3,663     (3,731     (3,755     (3,746     (3,954     (3,704     (2,301

Stock-based compensation expense

     (105     (78     (97     (105     (103     (90     (166     (49     (31
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash cost of revenues

   $ 4,223      $ 4,225      $ 4,309      $ 4,593      $ 5,467      $ 4,131      $ 4,522      $ 4,578      $ 3,206   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(2) The 16 Data Centers were acquired on April 30, 2010. As a result, financial results for the three months ended June 30, 2010 include only two months of activity.
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