Zayo announces fourth quarter earnings

Communications infrastructure company Zayo Group Holdings recently announced its financial results for the three months that concluded on June 30, 2018.
The Boulder, CO-based company provides communication infrastructure that includes fiber and bandwidth connectivity, colocation and cloud infrastructure to the world’s top businesses. Zayo’s customers include wireless and wireline carriers, media content companies, finance, healthcare and additional large enterprises.   Zayo’s 128,242-mile network in North America and Europe includes extensive 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 infrastructure in its carrier-neutral data centers. 
Zayo also provides its flexible customized solutions and self-service via Tranzact, an online platform that is used to manage and purchase bandwidth. The company’s ability to supply bandwidth and connectivity over a high-quality network infrastructure has allowed it to power and protect customers all over the world.
When the company’s announced its fourth quarter earnings report on August 22, it revealed increases in both operating income ($14.9 million) and its net income ($20.4 million) over the previous quarter. Zayo’s basic and diluted net income per share was $0.18 and its capital expenditures over the three months ending on June 30 were $208 million.
As of June 30, 2018, Zayo had $256.7 million of cash and $441.9 million available under its revolving credit facility.

Among Zayo’s recent developments, the company closed the sale of Scott-Rice Telephone Company (SRT) for $42 million to Nuvera, according to a company release. The SRT acquisition was part of the company’s March 2017 purchase of Electric Lightwave and it was reported as part of the Allstream segment. Zayo concluded SRT wasn’t a significant disposal group and didn’t represent a strategic shift. Because of this, it was not classified as discontinued operations. Scott Rice had a net loss before taxes of $1.6