Savvis Wraps Up A ‘Transition Year’
February 6th, 2008 By: Rich Miller
Savvis Inc. (SVVS) says 2007 was a “year of transition” as it sold off its content delivery network and two large facility leases, refined its focus on managed hosting and financial services, and expanded its data center footprint. As it looks to 2008, the managed hosting provider hopes to build its high-margin utility hosting and proximity hosting businesses, and capture the benefits of higher pricing in the colocation market.
Savvis reviewed its 2007 results and outlined its goals for 2008 in a conference call Monday with securities analysts. The company predicted its 2008 revenue will climb between 15 percent and 17 percent and exceed Wall Street forecasts.
CEO Philip Koen called 2007 “a challenging but ultimately successful transition year.” Koen said Savvis has been “very successful” in selling space in the four new data centers it brought online in September and October in four markets