Interxion Plans Debt Offering

European data center service provider Interxion today reported revenue of €54.6 million for the third quarter of 2010, a 25 percent increase compared to last year's performance (€43.7 million). Recurring revenue was 91 percent of total revenue in the period.

Net profit for the third quarter was €5.9 million, a strong increase from last year's €1.3 million. Cash and cash equivalent were €30.6 million at the end of the quarter, a decrease from last year, as the company invested €23.9 million in expansion Capex in the quarter. Adjusted EBITDA increased by 30 percent to € 20.8 Million, showing a healthy improvement to a 38.1 percent margin on revenue.

Interxion also announced an offering of €50,000,000 ($71.2 million US) Senior Secured Notes, through a re-opening of its 9.5% Senior Secured Notes due 2017 issued on February 15, 2010. A recent price on the notes already issued was 108.5.

Interxion filed plans for an initial public offering with the U.S. Securities and Exchange Commission, on a confidential basis, on May 4, as DCK previously reported.

You can check Interxion's numbers in our embedded spreadsheet, that can also be downloaded at this link.

Paolo Gorgo writes about the colocation and CDN sector at Nortia Research and Seeking Alpha.