Tuesday, February 12, 2008

SAVVIS Lost More than Pres

Jonathan Crane, President of SAVVIS, will resign March 1. His company narrowed its losses to $2.5M. Revenue for 4Q07 was down, only $197.8 million with earnings of $39.4M. Projections for 2008 are $910M.

Management attributed the decline to the sale of data-center assets to Microsoft at the end of June 2007 and the sale of CDN assets in January 2007. [cnnmoney]

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