GTT Reports Fourth Quarter and Full Year 2019 Financial Results

MCLEAN, Va., March 2, 2020 - GTT Communications, Inc. (NYSE: GTT), a leading global cloud networking provider to multinational clients, announced today its financial results for the year and quarter ended December 31, 2019.

Full year highlights:
Revenue of $1,727.8 million grew 15.9% over 2018.
Net loss was $105.9 million, compared to net loss of $243.4 million in 2018. 2019 net loss was primarily the result of several non-recurring costs, including $36.0 million in exit, transaction and integration costs and $31.4 million non-cash losses due to the change in fair value related to our interest rate swaps.
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) of $439.3 million grew 21.0% over 2018.
Capital expenditures were $102.2 million (5.9% of revenue) compared to $77.7 million in 2018 (5.2% of revenue).
Using constant currency 2019 revenue and Adjusted EBITDA would have been higher than reported by $45.0 million and $15.2 million, respectively, compared to 2018.

Fourth quarter highlights:
Revenue of $423.9 million declined 6.8% compared to 4Q18 and increased 0.9% compared to 3Q19. The sequential revenue increase of 0.9% was attributable to a 0.4% increase in monthly recurring cash revenue and a 0.4% increase from foreign currency.
Net install trends improved throughout 4Q19 and the trend is expected to continue in 1Q20.
Net loss was $19.1 million compared to net loss of $53.0 million in 4Q18 and a net loss of $26.2 million in 3Q19. The net losses in all periods include non-recurring costs, including exit, transaction and integration


The following information was filed by Gtt Communications, Inc. (GTT) on Monday, March 2, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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