Zayo Group posts $19.3M loss
BOULDER — Broadband infrastructure firm Zayo Group Holding Inc. (NYSE: ZAYO) on Thursday reported a loss of $19.3 million for the third-quarter of its fiscal year 2016 that ended March 31.
The Boulder-based firm’s loss was $8.5 million higher than the prior quarter’s loss of $10.8 million, but lower than the $53.7 million loss recorded for the same period a year ago. Basic and diluted loss per share during the third quarter was 8 cents.
Zayo recorded revenue of $478 million that included $96.1 million from Zayo Canada, the new name for Canadian firm Allstream Inc. that Zayo acquired in November last year for $378 million.
SPONSORED CONTENT
How dispatchable resources enable the clean energy transition
Platte River must prepare for the retirement of 431 megawatts (MW) of dispatchable, coal-fired generation by the end of the decade and address more frequent extreme weather events that can bring dark calms (periods when there is no sun or wind).
During the three months, capital expenditures were $185.1 million, including $11.1 million attributed to Zayo Canada.
Entering its fourth quarter, Zayo on April 1 acquired Clearview International LLC, a Texas-based colocation and cloud infrastructure services provider for $18.9 million.
As of March 31 the company had $215.2 million of cash and $442.1 million available under its revolving credit facility.
Zayo now has a 112,000-mile network in North America and Europe that includes metro connectivity to thousands of buildings and data centers. In addition to high-capacity dark fiber, wavelength, Ethernet and other connectivity solutions, Zayo offers colocation and cloud services in its carrier-neutral data centers.
Zayo’s stock was trading at $26.93 per share mid-day Friday. Its 52-week range is $19.59 to $29.62.
