Zayo posts revenue of $657.7 million in revenue, up 5% yoy

Zayo Group reported $657.6 million in consolidated revenue for its fourth quarter ended June 30, 2018, and net income of $43.8 million, including $30.6 million from the Communications Infrastructure segments and a net income of $13.2 million from its Allstream segment.

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.

Capital expenditures during the quarter amounted to $208.0 million.

Zayo also noted that it completed the first phase of its investigation on the advisability and feasibility of a conversion to a real estate investment trust (REIT) for U.S. federal income tax purposes.