SYS-CON Media
 Register Now!
Save $200
Register before October 17th to SAVE! ... and also receive a FREE copy of the Best-Selling AJAX Book, a $119 Value!
Untitled Document
2008 East
Platinum Sponsor
Untitled Document
2008 East Gold Sponsors
Untitled Document
2008 East Exhibitors
Untitled Document
2008 East Media Sponsors
Untitled Document
2008 Association Sponsor
SYS-CON Media
2007 West Sponsors
Goingtomeet.com Conference Directory
SYS-CON Media
2007 East Sponsors
Untitled Document
2008 SYS-CON Events

Can't Miss RSS Feed
Subscribe to the AJAXWorld.com RSS Feed & Get All The Conference News As It Happens!

2008: Decision Year for RIAs - October 20-22, 2008 San Jose


CoreSite Reports Second Quarter Results
Reported second-quarter operating revenue of $57.7 million, representing a 13.9% increase year-over-year

CoreSite, provider of network dense, cloud enabled data center solutions,has announced financial results for the second quarter ended June 30, 2013.

Tom Ray, CoreSite's Chief Executive Officer, commented, "We are pleased to record a solid quarter of growth for CoreSite, and importantly, one that reflects the continued success we are seeing in our network-centric, differentiated strategy. We remain focused upon continuing to increase the number and quality of customer deployments in our portfolio and enhancing the value proposition of the CoreSite Mesh. We executed 115 new and expansion leases in the quarter including agreements with 33 new customers. Additionally, we are pleased with the continued evolution we saw in our sales mix, recording an increasing number of leases bringing high-value applications to our platform." Mr. Ray continued, "Regarding growth, we continue to invest to meet customer demand, with four data center projects under way. We believe that we have considerable upside embedded in our portfolio as we increase the utilization of existing and new inventory, positively mark to market expiring capacity, and most importantly, continue to drive increased network density and valuable customer communities across our data centers."

Quarterly Highlights

  • Reported second-quarter funds from operations ("FFO") of $0.45 per diluted share and unit, representing a 21.6% increase year-over-year
  • Reported second-quarter operating revenue of $57.7 million, representing a 13.9% increase year-over-year
  • Executed new and expansion data center leases representing $5.8 million of annualized GAAP rent at a rate of $188 of annualized GAAP rent per square foot
  • Realized rent growth on signed renewals of 5.4% on a cash basis and 11.7% on a GAAP basis and rental churn of 2.0%
  • Commenced 42,672 net rentable square feet of new and expansion leases with annualized GAAP rent of $147 per square foot

Financial Results
CoreSite reported FFO attributable to shares and units of $21.1 million for the three months ended June 30, 2013, a 22.0% increase year-over-year and an increase of 9.6% sequential quarter-over-quarter. On a per diluted share and unit basis, FFO increased 21.6% to $0.45 for the three months ended June 30, 2013, as compared to $0.37 per diluted share and unit for the three months ended June 30, 2012. Total operating revenue for the three months ended June 30, 2013, was $57.7 million, a 13.9% increase year-over-year. CoreSite reported net income for the three months ended June 30, 2013, of $7.9 million and net income attributable to common shares of $2.6 million, or $0.12 per diluted share.

Sales Activity
CoreSite executed new and expansion data center leases representing $5.8 million of annualized GAAP rent during the quarter, comprised of 30,810 NRSF at a weighted average GAAP rate of $188 per NRSF.

CoreSite's renewal leases signed in the second quarter totaled 44,702 NRSF at a weighted average GAAP rate of $166 per NRSF, reflecting a 5.4% increase in rent on a cash basis and an 11.7% increase on a GAAP basis. The second quarter rental churn rate was 2.0%.

CoreSite's second quarter data center lease commencements totaled 42,672 NRSF at a weighted average GAAP rental rate of $147 per NRSF, which represents $6.3 million of annualized GAAP rent.

Development Activity
CoreSite had 236,673 NRSF of data center space under construction at four key locations as of June 30, 2013. The projects under construction include new data centers at SV5 (San Francisco Bay area), VA2 (Northern Virginia area), NY2 (New York) and additional inventory at LA2 (Los Angeles). As of June 30, 2013, CoreSite had incurred $59.4 million of the estimated $188.0 million required to complete these projects.

Balance Sheet and Liquidity
As of June 30, 2013, CoreSite had $132.0 million of total long-term debt equal to 1.2x annualized adjusted EBITDA and long-term debt and preferred stock equal to 2.3x annualized adjusted EBITDA.

At quarter end, CoreSite had $2.8 million of cash available on its balance sheet and $324.5 million of available capacity under its credit facility.

About Pat Romanski
News Desk compiles and publishes breaking news stories, press releases and latest news articles as they happen.

Latest AJAXWorld RIA Stories
CloudEXPO | DevOpsSUMMIT | DXWorldEXPO Silicon Valley 2019 will cover all of these tools, with the most comprehensive program and with 222 rockstar speakers throughout our industry presenting 22 Keynotes and General Sessions, 250 Breakout Sessions along 10 Tracks, as well as our ...
Technological progress can be expressed as layers of abstraction - higher layers are built on top of lower layers treating them as abstract black boxes with known interfaces. A serverless approach represents an inflection point that entirely separates the runtime layer from the u...
Your job is mostly boring. Many of the IT operations tasks you perform on a day-to-day basis are repetitive and dull. Utilizing automation can improve your work life, automating away the drudgery and embracing the passion for technology that got you started in the first place. In...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and l...
Big Switch's mission is to disrupt the status quo of networking with order of magnitude improvements in network e ciency, intelligence and agility by delivering Next-Generation Data Center Networking. We enable data center transformation and accelerate business velocity by delive...
Untitled Document

Call 201 802-3020 or Click Here to Save $200!

Register Today and
Save $200

Your registrations includes: Golden Pass Delegates will receive full conference access on October 20-22, 2008 including: Lunch and Coffee Breaks, Collectible Bag and Archives of all sessions on DVD. Includes access to all Conference Sessions including the Technical Sessions, Exhibits, Keynotes, Vendor Technology Presentations, and Power Panels.


Sponsorship Opportunities

AJAXWorld offers the undisputed best platform to position your company as a leading vendor in the fast-emerging marketplace for AJAX and Enterprise Web 2.0.


Please call
(201)802-3020


Who Should Attend?

 CTOs & VPs of Engineering
 Directors of Technology
 Sr. User Interface Architects
 Front-End Engineers
 VCs & Industry Analysts
 Directors of Business Development
 Software Engineers
 Senior Architects
 Application Programmers & Software Developers
 Project Managers
 Web Programmers & Designers
 Companies & Organizations that need to stay in
  front of the latest Web technology

AJAXWorld Security Bootcamp

Introducing at AJAXWorld RIA Conference 2008 West the world's first-ever full, one-day immersive "AJAX Security Bootcamp" - led by one of the world's foremost AJAX security experts and teachers, HP's Billy Hoffman.

View the full one-day schedule



AJAXWorld 2008 West - Tracks

Track 01: Enterprise RIAs
Track 02: Frameworks & Toolkits
Track 03: Web 2.0 & Mashups
Track 04: Hot Topics
Track 05: The Future of the Web
Track 06: iPhone Developer Summit



Brought To You By:

AJAXWorld Magazine is the pre-eminent independent vendor-neutral resource for the fastest growing new segment of the software business: entirely Web-based applications and experiences.

Download the Latest Issue!

AJAXWorld Webcasts



SYS-CON EVENTS


AJAXWorld Keynotes & Power Panels

2008 SYS-CON TV Keynotes: Can We Fix the Web? By Douglas Crockford - by Douglas Crockford
2008 SYS-CON TV Keynotes: 2008: The Year of the RIA - by Anthony Franco
2008 SYS-CON TV Power Panel: The Business Value of RIAs
2008 SYS-CON TV Power Panel: What Lies Beyond AJAX
2007 SYS-CON TV Keynotes: Why Web 2.0 for the Enterprise Is Far More Than Just a Facelift - by Ted Farrell
2007 SYS-CON TV Keynotes: Fueling the Next Generation Web: A Peek Behind the Green Curtain - by Bob Brewin
2007 SYS-CON TV Keynotes: AJAX in the Balance - by Joe Stagner

AJAXWorld Sessions on SYS-CON.TV

· Bill Scott - Yahoo! UI Library
· David Heinemeier Hansson - AJAX on Rails
· Jesse James Garrett - Elements of User Experience
· Dion Hinchcliffe - Real World AJAX
· Eric Miraglia - Open Source AJAX Development
· Paul Rademacher - Mashing Up Your Web Application
· Adam Sah - Google Gadgets
· Doug Crockford - An Introduction to JavaScript
· David Linthicum - Enterprise Web 2.0
· Patrick Grady - The Imagination & Experience Web

AJAXWorld...All The AJAX Rock Stars in One Spot!


Past Events Archive

SOAWorld Conference & Expo 2008 East
soa2008east.sys-con.com
Virtualization Conference & Expo 2008 East
virt2008east.sys-con.com
AJAXWorld 2008 Conference & Expo East
ajaxmar08.sys-con.com
SOAWorld Conference & Expo 2007 West
www.soaworld2007.com
Virtualization Conference & Expo 2007 West
virt2007west.sys-con.com
AJAXWorld 2007 Conference & Expo West
ajaxoct07.sys-con.com
SOAWorld Conference & Expo 2007 East
soa2007east.sys-con.com
Virtualization Conference & Expo 2007 East
virt2007east.sys-con.com
AJAXWorld 2007 Conference & Expo East
ajaxmarch07.sys-con.com
Other SYS-CON Events
events.sys-con.com

Join Over 10,000 Early AJAX Adopters
Who Have Attended AJAXWorld
• A&R Edelman
• Academic Enterprise
• Accoona Corp [2 delegates]
• Acxiom
• Adams Capital Management
• Adaptive Edge
• Adaptive Path
• Adobe Systems Incorporated [21 delegates]
• Adobe Systems Romania
• Ajax13
• All Risks, Ltd.
• alliance
• Alliance For Community Care
• AlphaDetail Inc
• Altera Corporation
• Amazon.com [6 delegates]
• Appeon Corporation [2 delegates]
• Apple Computer [5 delegates]
• Apress [3 delegates]
• Arkivio
• ASA
• Astute Solutions
• Avaya Inc [2 delegates]
• Avenda Systems
• Avenue A | Razorfish [3 delegates]
• Axcella, LLC [2 delegates]
• Aximsoft
• Azimyth
• Backbase USA Inc. [4 delegates]
• BAE Systems [2 delegates]
• Bank of America [2 delegates]
• Barkley Evergreen & Partners Interactive
• Bayview Financial [2 delegates]
• BEA Systems [3 delegates]
• Billeo
• BMC Software, Inc. [2 delegates]
• Borland Software Corporation
• Bradford Technologies, Inc [2 delegates]
• Brilliance
• Brocade Communications Systems, Inc. [2 delegates]
• Brookside Capital LLC
• Brulant
• Bungee Labs, Inc [6 delegates]
• Bureau of Labor Statistics
• BUZ Interactive
• Cadena Software
• Calix Networks
• Callidus Software [2 delegates]
• Cambia Security
• Carnegie Mellon West
• Cautella, Inc.
• CBSA
• Celequest [3 delegates]
• Change Vision, Inc.
• Charles E. Kenney, CPA
• Charles Schwab & Co., Inc. [8 delegates]

   read more...


ADVERTISE   |   MAGAZINE SUBSCRIPTIONS   |   FREE BREAKING-NEWSLETTERS!   |   SYS-CON.TV   |   BLOG-N-PLAY!   |   WEBCAST   |   EDUCATION   |   RESEARCH

.NET Developer's Journal - .NETDJ   |   ColdFusion Developer's Journal - CFDJ   |   Eclipse Developer's Journal - EDJ   |   Enterprise Open Source Magazine - EOS
Open Web Developer's Journal - OPEN WEB   |   iPhone Developer's Journal - iPHONE   |   Virtualization - Virtualization   |   Java Developer's Journal - JDJ   |   Linux.SYS-CON.com
PowerBuilder Developer's Journal - PBDJ   |   SEO / SEM Journal - SJ   |   SOAWorld Magazine - SOAWM   |   IT Solutions Guide - ITSG   |   Symbian Developer's Journal - SDJ
WebLogic Developer's Journal - WLDJ   |   WebSphere Journal - WJ   |   Wireless Business & Technology - WBT   |   XML-Journal - XMLJ   |   Internet Video - iTV
Flex Developer's Journal - Flex   |   AJAXWorld Magazine - AWM   |   Silverlight Developer's Journal - SLDJ   |   PHP.SYS-CON.com   |   Web 2.0 Journal - WEB2

SYS-CON MEDIA:   ABOUT US   |   CONTACT US   |   COMPANY NEWS   |   CAREERS   |   SITE MAP
SYS-CON EVENTS  |  AJAXWorld Conference & Expo  |  iPhone Developer Summit  |  OpenWeb Developer Summit  |  SOA World Conference & Expo  |  Virtualization Conference & Expo
INTERNATIONAL SITES:   India  |  U.K.  |  Canada  |  Germany  |  France  |  Australia  |  Italy  |  Spain  |  Netherlands  |  Brazil  |  Belgium
 Terms of Use & Our Privacy Statement     About Newsfeeds / Video Feeds
Copyright ©1994-2008 SYS-CON Publications, Inc. All Rights Reserved. All marks are trademarks of SYS-CON Media.
Reproduction in whole or in part in any form or medium without express written permission of SYS-CON Publications, Inc. is prohibited.