Zayo yearly sales drop, profits rise on lower operating costs
BOULDER — Year-over-year revenues dropped by $24.5 million for Zayo Group Holdings Inc. (NYSE: ZAYO), but the company’s profits increased over the same period.
The Boulder IT infrastructure company posted $2.578 billion in sales for the 2019 fiscal year ending June 30 compared to $2.602 billion in the previous year, according to its yearly report filed Wednesday with the U.S. Securities and Exchange Commission.
However, it posted $150 million in profits, a $47.1 million increase from last year, mostly from lower operation costs and depreciation.
The report said Zayo’s pending sale to two private investment firms is still estimated to close in the first half of 2020, in line with previous statements. However, the company reported incurring $12.9 million in merger-related costs.
The annual report was delayed several days after Zayo said a third-party software provider couldn’t attest to the company’s financials due to a data collection issue.
Zayo stock rose 19 cents over Wednesday’s trading period to close at $33.75.
BOULDER — Year-over-year revenues dropped by $24.5 million for Zayo Group Holdings Inc. (NYSE: ZAYO), but the company’s profits increased over the same period.
The Boulder IT infrastructure company posted $2.578 billion in sales for the 2019 fiscal year ending June 30 compared to $2.602 billion in the previous year, according to its yearly report filed Wednesday with the U.S. Securities and Exchange Commission.
However, it posted $150 million in profits, a $47.1 million increase from last year, mostly from lower operation costs and depreciation.
The report said Zayo’s pending sale
One month subscription includes: One month subscription includes: One year subscription includes: One year subscription includes: One month subscription includes:
Start your subscription to BizWest, The Business Journal of the Boulder Valley and Northern Colorado, TODAY!
Online access PLUS print versions of all Bizwest publications
Online access for one year.
Online and print versions of all Bizwest publications PLUS premium access to BizWest Datastore for one year.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.
Premium access to the BreakingGround site plus online and print versions of all BizWest publications.