Exhibit 99.1

Picture 2

Zayo Group Holdings, Inc. Reports Financial Results for the Fourth Fiscal Quarter Ended June 30, 2018

 

Fourth Fiscal Quarter 2018 Financial Highlights

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$657.6 million of consolidated revenue, including $546.6 million from the Communications Infrastructure segments and $111.0 million from the Allstream segment.

·

Net income of $43.8 million,  including $30.6 million from the Communications Infrastructure segments and a net income of $13.2 million from the Allstream segment

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$324.9 million of adjusted EBITDA,  including $300.7 million from Communications Infrastructure and $24.2 million from the Allstream segment.

·

Bookings of $8.0 million, gross installs of $7.7 million, churn of 1.2% and net installs of $1.5 million, all on a monthly recurring revenue (MRR) and monthly amortized revenue (MAR) basis, excluding the Allstream segment.  

·

Adjusted unlevered free cash flow of $155.4 million.

BOULDER, Colo., August 22, 2018 –  Zayo Group Holdings, Inc. (“Zayo” or “the Company”) (NYSE: ZAYO), a global leader in Communications Infrastructure, announced results for the three months ended June 30, 2018.  

 

Fourth quarter operating income increased $14.9 million and net income increased by $20.4 million over the previous quarter. Basic and diluted net income per share during the quarter was $0.18. During the three months ended June 30, 2018, capital expenditures were $208.0 million.

As of June 30, 2018, the Company had $256.7 million of cash and $441.9 million available under its revolving credit facility.

Recent Developments

 

Scott-Rice Telephone Co

On July 31, 2018, the Company closed the sale of Scott-Rice Telephone Co (“SRT”) for $42 million to Nuvera (formerly New Ulm Telecom, Inc.). The Company acquired SRT as part of its March 2017 purchase of Electric Lightwave and it was reported as part of the Allstream segment. The Company concluded that SRT was not a significant disposal group and did not represent a strategic shift, and therefore was not classified as discontinued operations. Scott Rice had a net loss before taxes of $1.6 million for the year ended June 30, 2018. 

Share Repurchases 

On May 7, 2018, our Board of Directors authorized the repurchase of up to $500 million of our common stock from time to time using a variety of methods, including open market purchases, privately negotiated transactions and other means in accordance with federal securities laws. The authorization expires in November 2018, and may be suspended or discontinued at any time. During the year ended June 30, 2018, the Company repurchased 2.7 million of its outstanding common stock at an average price of $34.02, or $93.5 million. 

Potential REIT Conversion

 

On May 3, 2018, the Company announced that it completed the first phase of its investigation on the advisability and feasibility of a conversion to a real estate investment trust for U.S. federal income tax purposes (a “REIT”). The Company has begun the next phase of its evaluation and preparation for a potential conversion to a REIT. As part of these efforts, the Company has begun a direct dialogue with the U.S. Internal Revenue Service (“IRS”) in an effort to obtain clarity and support for its position, and is seeking a

 

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The following information was filed by Zayo Group Holdings, Inc. (ZAYO) on Wednesday, August 22, 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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