Savvis shares decline in fourth quarter
Shares for Savvis Inc., an internet service provider sharply declined on Thursday after posting low fourth quarter earnings on additional costs.
The firm announced additional costs for about $1 million to develop three new data centers.
Savvis said it expects its earnings to be between $38 million and $40 million down from a previous outlook of $39 to $41 million, excluding its stock, compesation, depreciation and gains, and losses on sales of assets.
The firm's shares declined by 7 percent ($2.23) to $29.95 from $29.31.
Savvis manages over 20 data centers world wide as well s providing internet access and network services for about 4,600 business and government agencies.
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