Technology  February 12, 2016

Zayo Group shares slide 5 percent as company swings to loss

BOULDER — Shares of Zayo Group Holdings Inc. (NYSE: ZAYO) were down more than 5 percent in Friday trading after the company’s quarterly earnings fell short of analysts’ expectations.

The Boulder-based broadband infrastructure provider reported a net loss of $10.8 million for the company’s second fiscal quarter, which ended Dec. 31. That amounted to 4 cents per share and was down from a profit of $3.8 million, or 2 cents per share, for the same period a year earlier.

Second-quarter revenue was $369.6 million, up 14 percent from a year earlier.

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Zayo is coming off of a quarter in which it closed the $101 million acquisition of European firm Viatel, as well as a 36,000-square-foot data center in Dallas for $16.7 million. That doesn’t include a $298 million acquisition of Canadian firm Allstream that closed on Jan. 15.

Company officials said Friday that Zayo repurchased $8.5 million-worth of outstanding stock during the fourth quarter as part of a $500 million repurchase plan that runs through May of this year.

Zayo shares were trading at $21.88 in mid-afternoon trading Friday, down 5.3 percent from the previous day’s close.

Zayo went public in 2014 for $19 per share and quickly saw its share price climb to $32 in the first couple of months of trading. But the share price has been on a gradual decline since.

BOULDER — Shares of Zayo Group Holdings Inc. (NYSE: ZAYO) were down more than 5 percent in Friday trading after the company’s quarterly earnings fell short of analysts’ expectations.

The Boulder-based broadband infrastructure provider reported a net loss of $10.8 million for the company’s second fiscal quarter, which ended Dec. 31. That amounted to 4 cents per share and was down from a profit of $3.8 million, or 2 cents per share, for the same period a year earlier.

Second-quarter revenue was $369.6 million, up 14 percent from a year earlier.

Zayo is coming off of…

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