Monday, November 9, 2009

Terremank Q2 2010 Earnings Results

Terremark (TMRK) reported basically in line numbers. The most exciting number is the revenue bookings were up 24% YOY and at record highs. Booking growth rates continue to exceed revenue growth of 17% YOY.

Added whitehouse.gov to the federal pipeline and continue to see record bookings in the current quarter. Also, expanding into Brazil (adding 5k sf with Yahoo as first customer) and Istanbul due to customer demand. The stock continues to be a buy based on the move to cloud computing and the online push of the federal government. Just don't see many companies with a 24% increase in bookings these days.

Santa Clara datacenter is online for Q4 opening with customers like Akamai and Shutterfly already signing contracts.


  • Total revenues for the quarter ended September 30, 2009 were $69.8 million, representing an 17% year-over-year increase
  • EBITDA, as adjusted, was $18.0 million for the quarter, representing a 82% year-over-year increase
  • Income from operations was $6.6 million for the quarter ended September 30, 2009
  • Bookings were a record $34.2 million for the quarter
  • 64 new customers were added in the quarter

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