Boulder telecom Zayo Group swings to profit
BOULDER – Fast-growing Boulder-based telecommunications firm Zayo Group Holdings Inc. (NYSE: ZAYO) swung to profit during the fiscal quarter ending Sept. 30, with net income of $15.7 million.
The company reported its earnings for the first quarter of its 2017 fiscal year after markets closed on Tuesday.
The profit amounted to 6 cents per share. It came after a loss of $15.2 million, or 6 cents per share, during the same period a year ago, and it followed a loss of $30.9 million during the quarter ending June 30 of this year.
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Sales leaped 38 percent year-over-year to $504.9 million.
Before the earnings report came out, Zayo shares climbed 1.2 percent in Tuesday trading.
The earnings came one day after the company announced that it had purchased a 26,900-square-foot data center in Santa Clara, Calif., the company’s first in Northern California, an area where Zayo has one of its most extensive metro dark fiber footprints.
BOULDER – Fast-growing Boulder-based telecommunications firm Zayo Group Holdings Inc. (NYSE: ZAYO) swung to profit during the fiscal quarter ending Sept. 30, with net income of $15.7 million.
The company reported its earnings for the first quarter of its 2017 fiscal year after markets closed on Tuesday.
The profit amounted to 6 cents per share. It came after a loss of $15.2 million, or 6 cents per share, during the same period a year ago, and it followed a loss of $30.9 million during the quarter ending June 30 of this year.
Sales leaped 38 percent year-over-year to $504.9 million.
Before the earnings report…
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