Web Host Names CFO as Earnings Plummet

Also, El-Hillow named at Spike Broadband, and more.
Ed ZwirnJuly 16, 2001

Exodus Communications, the largest web hosting services provider, has named William M. Austin executive vice president, finance and CFO, effective immediately. He succeeds Dick Stoltz, who has been the company’s interim CFO since May, who will remain as a senior adviser.

The Santa Clara, California firm, which has been among those most effected by the dot-com meltdown, recently announced that its second quarter results would see revenues fall some 13 percent short of its previous target, and well below analyst estimates.

The company said it now expects that its earnings announcement later this month will report a loss of 24 cents a share on revenue of $315 million, versus a year earlier, when it lost 10 cents a share on $176.6 million revenue. It blamed the shortfall on a decrease in the rate of new customer installations and on new orders from existing customers. Exodus stock was quoted at $1.42 per chare at 10:45 a.m. eastern time, well off from its 52-week high of $69, which it hit last September.

The 7 Habits of Highly Effective CFOs

The 7 Habits of Highly Effective CFOs

Download our whitepaper to discover the technical and behavioral skills needed to lead your business forward.

  • Spike Broadband Systems, a Nashua, N.H.-based wireless broadband carrier, announced today that Michael El-Hillow has been hired as senior vice president and CFO. El-Hillow comes to the firm from Helix Technology Corporation, a semiconductor manufacturer, where he had been senior vice president and CFO since 1997.
  • T-NETIX, a provider of specialized call processing and fraud control software, appointed Hank Schopfer to the post of CFO, the Dallas-based company announced. Schopfer most recently served as executive vice president and CFO of Wireless One (now WorldCom), according to the company announcement. He was also CFO at Daniel Industries (now Emerson Electric) for eight years.

4 Powerful Communication Strategies for Your Next Board Meeting