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.