Zayo Group reports increase in revenue
Last Updated: 15:48 September 23, 2013
The Boulder-based company said revenue increased in the quarter ended June 30, mainly because of organic growth from building new infrastructure. Zayo also said revenue was positively impacted because on May 31 it bought Core NAP LP, a data services center in Austin, Texas.
Zayo Group reported net income of $1.1 million for the quarter ended June 30. At the same time, the company reported $988.1 million in revenue for its fiscal year 2013, a 159 percent increase from the $382 million in revenue it reported for fiscal year 2012.
Zayo has been growing rapidly in the past couple of years. Its most recent plans to acquire Minneapolis-based Access Communications Inc. for $40 million were announced in August. Access has 1,200 miles of "dark" or nonworking fiber network, which connects more than 500 buildings.
Probably the most well-known Zayo purchase was of AboveNet Inc. (NYSE:ABVT) in summer 2012 for $2.2 billion.
The company has operations in 45 states and in Europe. It has more than 1,000 employees working in Boulder and in other offices in Louisville and the Denver Tech Center. Founded in 2007, Zayo Group has grown through purchase of other telecom companies.
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