Zayo revenue shows 110 percent gain
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.
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