Zayo revenue shows 110 percent gain

LOUISVILLE – Two major acquisitions helped Zayo Group LLC, a Louisville-based fiber-based bandwidth infrastructure provider, post a 110 percent jump in revenue in the most recent quarter, the company reported Friday.

Zayo Group’s revenue reached $229.7 million in the quarter that ended Sept. 30, up from $109.6 million in the prior quarter and $78.4 million in the same quarter in 2011.

Zayo attributed the growth to the July 2 acquisition of AboveNet Inc., which Zayo bought for $2.2 billion. Zayo also paid $117.5 million for FiberGate Holdings Inc., which it acquired Aug. 31.

Zayo reported a $51.6 million net loss during the quarter, compared with a $3.1 million profit during the same quarter in 2011.

Zayo, like companies in capital-intensive industries such as telecommunications, says adjusted EBITDA – earnings before interest, taxes, depreciation and amortization – is a better measure of its operating performance. Zayo’s adjusted EBITDA was $122.6 million in the quarter, up from the $57.5 million it reported in the prior quarter and the $38 million it reported in the same period in 2011.

You have 2 free articles remaining this month.
Want to see more? Login or Subscribe.

Leave a Reply

Your email address will not be published. Required fields are marked *


Social Network

Facebook Icon
Twitter Icon
LinkedIn Icon
©2016 BizWest The contents of this website are copyright BizWest Media, LLC. All rights reserved.
Use of any of this informatino or media on this site is strictly prohibited withotu express written consent.