Zayo records second-quarter profit of $19.8M

 

BOULDER — Broadband infrastructure provider Zayo Group Holdings Inc. (NYSE: ZAYO) reported an increase in revenue and profit for the second quarter of its fiscal year 2017 that ended Dec. 31.

The Boulder-based firm generated revenue of $506.7 million and a profit of $19.8 million, or 8 cents per share, for the quarter. The company had $369.6 million in revenue and recorded a $10.8 million loss for the same quarter a year ago. The most recent quarterly income increased $4.1 million compared with the previous quarter.

In November, Zayo entered an agreement to acquire Electric Lightwave Parent Inc. for $1.42 billion in cash, subject to customary regulatory approval and closing conditions.

Electric Lightwave, which provides infrastructure and telecom services primarily in the western United States, has 8,100 route miles of long-haul fiber and 4,000 miles of dense metro fiber, with on-net connectivity to more than 3,100 enterprise buildings and 100 data centers in cities such as Portland, Ore.; Seattle; Sacramento; San Francisco; San Jose; Salt Lake City; and Spokane, Wash. Zayo expects the deal to close during the quarter that ends March 31.

As of Dec. 31, Zayo had $144 million in cash and $442.7 million available under its revolving credit facility.