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SAVVIS Reports 2006 Revenue Up 15% to $764 Million

SAVVIS, Inc. (NASDAQ: SVVS), a global leader in IT infrastructure services for business applications, announced today that its revenue for 2006 totaled $764.0 million, compared to $667.0 million in 2005. SAVVIS achieved income from operations of $25.5 million for the year, and its consolidated net loss was $44.0 million, compared to a net loss of $69.1 million in the previous year. Adjusted EBITDA* for the year was $122.7 million, an increase of 55% from $79.3 million in 2005. For the fourth quarter of 2006, revenue totaled $200.7 million, compared to $171.5 million in the fourth quarter of 2005 and $193.7 million in the third quarter of 2006. SAVVIS achieved income from operations of $11.6 million in the fourth quarter, and its consolidated net loss was $6.8 million, compared to a net loss of $13.1 million in the fourth quarter of 2005 and a net loss of $13.6 million in the third quarter of 2006. Cost of revenue, which excludes depreciation, amortization, and accretion, was $118.4 million for the fourth quarter 2006, up 7% from a year ago and 2% from the prior quarter. Gross profit, defined as total revenue less cost of revenue, was $82.3 million, up 36% from a year ago and 7% from the third quarter 2006. Gross profit as a percentage of total revenue was 41% in the current quarter, up from 35% a year earlier and 40% in the prior quarter. Adjusted EBITDA of $36.0 million increased 61% from $22.3 million a year earlier, and 10% from $32.8 million in the previous quarter. Fourth-quarter operating cash flow was $41.0 million and cash capital expenditures were $22.1 million.

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