( Investor Home ) ( About Globix ) ( Stock Quote )
( Press Releases ) ( SEC Filings ) ( Analyst Coverage )
( Directors ) ( Management ) ( Investor Calendar )
( Conference Calls ) ( More Information )

GLOBIX CORPORATION REPORTS FISCAL Q3 RESULTS

Internet revenue increased 50 percent sequentially to a record $15.5 million. Year-over-year total revenue increased 128 percent to a record $21.4 million.

NEW YORK — July 27, 2000 — Globix Corporation (NASDAQ: GBIX) today announced record financial results for its third quarter of fiscal year 2000, which ended June 30, 2000.

For the quarter, Globix posted record revenue from the Internet segment of $15.5 million. This is a 50 percent increase over the second quarter of 2000 and a 358 percent increase over the third quarter of 1999, when revenue from the Internet segment was $3.4 million. Revenue totaled $21.4 million, an increase of 128 percent over the $9.4 million in revenues for the same quarter last year. Revenue from the Server Sales and Integration segment was $5.9 million for the quarter, versus $6.0 million in the prior year’s quarter.

Globix continues to be one of the premier Streaming Media providers, and that service contributed $852,000 in revenue to the Internet segment in the third quarter — a 25 percent increase over the second quarter of 2000.

EBITDA loss (loss before net interest expense, income taxes, depreciation and amortization) was $15.1 million for the quarter, compared to $5.7 million for the same quarter last year.

Net loss attributable to common stockholders for the third quarter was $31.8 million, or $0.91 loss per share based on 34.9 million shares, compared to a net loss attributable to common shareholders of $8.8 million, or $0.27 loss per share based on 33.1 million shares, for the same quarter last year.

“With more than 50 percent sequential revenue growth in our core Internet segment, Globix is proving that customers want a robust Internet solution,” said Marc H. Bell, Chairman and CEO. “To further demonstrate this, the average annualized revenue from our top 100 customers increased 37 percent from the previous quarter to $328,000, up from $239,000 last quarter. Additionally, we increased our customer count from 2,020 last quarter to 2,337 in the third quarter.”

“New bookings also continue to be robust,” said Brian Reach, Chief Financial Officer. “During the third quarter, Globix booked more than $22 million of new annualized recurring revenue. Our current annualized backlog is in excess of $10 million. When combined with our installed customer base, our annualized recurring revenue run rate would be in excess of $72 million — a 40 percent increase over last quarter.”

Significant Events During the Third Quarter of 2000

SuperPOP Expansion: Began construction in Boston. In the pre-construction planning stage for facilities in Seattle, Los Angeles and a second New York location.

Network Expansion:

• Purchased an STM-16 (2.5 Gbps) ring on Viatel’s Pan-European Network, which extends the Globix network from London to Amsterdam, Frankfurt and Paris.
• Purchased multiple STM-1 circuits connecting the United States and London via Trans-Atlantic fiber.
• Received delivery of our domestic 2.5 Gbps wavelength.

Streaming Media: Fulfilled more than 33 million stream requests and transferred more than 12 Terabytes of data.

Peering: Have signed agreements with approximately 400 companies for peering, representing nearly 980 connections.

Staffing: Increased our head count to more then 640 employees, up from over 590 in the prior quarter.

Corporate: Upgraded the financial infrastructure with the implementation of a new internal financial reporting system.

About Globix
Globix Corporation Corporation is a leading full service provider of sophisticated Internet solutions, including connectivity and advanced Internet services, for businesses in the United States and Europe. Through its high-speed, fault-tolerant, fiber-optic network and state-of-the-art Internet Data Centers in New York City, Santa Clara, CA and London, UK, Globix delivers superior reliability, security and performance to companies using the Internet to deploy mission-critical business strategies. Globix’s solutions include Co-Location, Hosting and Dedicated Access. The Globix Applications Services Group offers services such as Streaming Media, Electronic Commerce, Solutions Architecture and Internet Security.

This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained under the heading of Risk Factors listed from time to time in the Company’s filings with the Securities and Exchange Commission.

Contact:
Globix Corporation
Charles Strauzer
VP, Corporate Finance
212-625-7327
[email protected]

Back to Top