Exhibit 99.1

Picture 2

Zayo Group Holdings, Inc. Reports Financial Results for the Second  Fiscal Quarter Ended December 31, 2017

 

Second Fiscal Quarter 2018 Financial Highlights

·

$653.5 million of consolidated revenue; including $530.0 million from the Communications Infrastructure  segments and $123.5 million from the Allstream segment;

·

Net income of $11.5 million, including $10.6 million from the Communications Infrastructure segments and $0.9 million from the Allstream segment;

·

$329.9 million of adjusted EBITDA, including $300.0 million from Communications Infrastructure and $29.9 million from the Allstream segment;

·

Bookings of $7.9 million, gross installs of $7.6 million, churn of 1.2% and net installs of $1.6 million, all on a monthly recurring revenue (MRR) and monthly amortized revenue (MAR) basis, excluding the Allstream segment.

·

Adjusted unlevered free cash flow of $124.3 million.

BOULDER, Colo., February 7, 2018 

– Zayo Group Holdings, Inc. (“Zayo” or “the Company”) (NYSE: ZAYO), a global leader in Communications Infrastructure, announced results for the three months ended December 31, 2017.  

 

Second quarter operating income increased by $8.6 million and net income decreased by $11.7 million over the previous quarter primarily due to the provision for income taxes. Income tax expense increased by $17.5 million in the second quarter, largely due to the impact from tax reform under the Tax Cut and Jobs Act of 2017 of $44.1 million partially offset by a $28.5 million release of a valuation allowance on deferred tax assets for certain foreign subsidiaries. Basic and diluted net income per share during the second fiscal quarter was $0.05. During the three months ended December 31, 2017, capital expenditures were $193.4 million.

 

As of December 31, 2017, the Company had $280.8 million of cash and $442.0 million available under its revolving credit facility.

 

Recent Developments

 

Acquisition of Spread Networks

 

On November 26, 2017, the Company entered into a definitive agreement to acquire Spread Networks, LLC, a privately-owned telecommunications provider that owns and operates a 825-mile, high-fiber count long haul route connecting New York and Chicago, for $127.0 million in cash (subject to post-closing adjustments). The all-cash transaction is expected to be funded with cash on hand and debt and is expected to close in the first calendar quarter of 2018, subject to customary closing conditions.

 

Acquisition of Optic Zoo Networks

 

On January 18, 2018, the Company completed the CAD $31.0 million (or $24.9 million) cash acquisition of Vancouver-based Optic Zoo Networks. Optic Zoo Networks owns and operates high-capacity fiber in Vancouver and has achieved a significant penetration of customers, with a focus on the digital media sector. The transaction adds 103 route miles and more than 100 on-net buildings to the Company’s Vancouver footprint. 

 

Acquisition of Neutral Path Communications

On January 28, 2018, the Company entered into an agreement to acquire substantially all of the assets of Neutral Path Communications and Near North Partners for $31.5 million. The purchase price is subject to net working capital and other customary adjustments, as well as a contingent payment based on sales performance through June 30, 2018. Neutral Path is a long haul

 

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The following information was filed by Zayo Group Holdings, Inc. (ZAYO) on Wednesday, February 7, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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