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.