GTT Reports Second Quarter 2019 Financial Results
GTT Communications, Inc. a leading global cloud networking provider to multinational clients, announced this week its financial results for the quarter ended June 30, 2019.
Second-quarter highlights:
- Revenue of $433.8 million grew 32.7% compared to 2Q18 and declined 3.6% compared to 1Q19.
- Net loss was $33.3 million compared to a net loss of $136.3 million in 2Q18 and a net loss of $27.3 million in 1Q19. The net losses in all periods are primarily the result of non-recurring costs, including exit, transaction and integration costs of $12.1 million, $13.7 million, and $12.0 million in 2Q19, 2Q18, and 1Q19, respectively, and change in fair value of exchange rate and interest rate hedges of $19.9 million, $98.1 million, and $15.3 million in 2Q19, 2Q18, and 1Q19, respectively.
- Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) of $112.0 million grew 49.5% compared to 2Q18 and declined 8.3% compared to 1Q19. The adjusted EBITDA margin was 25.8% compared to 22.9% in 2Q18 and 27.1% in 1Q19.
- Capital expenditures were $19.2 million (4.4% of revenue) compared to $19.3 million in 2Q18 (5.9% of revenue) and $32.1 million in 1Q19 (7.1% of revenue).
- Using constant currency (i) 2Q19 revenue and Adjusted EBITDA would have been higher than reported by $13.1 million and $4.4 million, respectively, compared to 2Q18, and (ii) 2Q19 revenue and Adjusted EBITDA would have been higher than reported by $2.4 million and $0.7 million, compared to 1Q19.
- On a pro forma basis, assuming (i) the historical results of Interoute (as defined in Annex A hereto) had been included for all periods presented, and (ii) constant currency:2Q19 revenue and Adjusted EBITDA declined 3.1% and grew 7.5%, respectively, compared to 2Q18, and declined 3.1% and 7.8%, respectively, compared to 1Q19.
- In addition, the Company announced that (i) it has established a Free Cash Flow target of $175–$200 million for 2020 (refer to Annex A for more information regarding the computation of Free Cash Flow) and (ii) it has hired an advisor to explore the sale of certain non-strategic assets that have been acquired over the past several years, with the primary objective of reducing debt.
Latest Jobs
-
- VOIP / SIP App Developer. Contract. SIP | VOIP experience needed. SC Cleared Outside IR35 Contract. London
- London
- OUTSIDE IR35
-
SIP | VOIP Developer. SC Cleared Contract. London Looking for a SC Cleared SIP / VOIP Developer to develop an application that interacts with a set of voice and video signalling API’s You will also work on developing in-house applications, browser plugins and automated tooling to support secure communication systems. Responsibilities Develop an application that will manage number mapping and associated identities using commercial SBC API’s. Develop new user-facing features using React.js or other modern JavaScript frameworks. Build reusable components and front-end libraries for future use. Collaborate with the design team to translate UI/UX design wireframes into code. Work closely with backend developers to integrate front-end code with server-side logic. Conduct code reviews and provide constructive feedback to team members. Stay up-to-date on emerging technologies and industry trends to continuously improve our front-end development practices. Troubleshoot and debug issues that arise during development and in production environments. Maintain high coding standards and practices and ensure code is well-documented. Requirement Experience of developing specialist applications using REST API’s. Good knowledge of Go, Java and Python (open to alternative combinations of languages). Proficiency in front-end languages and frameworks such as HTML, CSS, JavaScript, React.js, etc. Strong understanding of web standards, responsive design, and cross-browser compatibility. Experience with version control systems such as Git. Knowledge of RESTful APIs and asynchronous request handling. Familiarity with UI/UX design principles and tools.
-
- Senior Data Privacy Consultant. Client Facing | London
- London
- N/A
-
Senior Data Privacy Consultant. Client Facing | London Senior Data Privacy Consultant needed for a key client facing opportunity. Must be willing to undergo SC Security Clearance. Hybrid role- onsite with customer / office 2-3 days a week. London Key Responsibilities: Lead and support client facing data privacy projects. Assess compliance, define and deliver strategic projects / implement privacy solutions. Manage project teams and develop business opportunities. Required Experience: Experience in data protection and privacy standards. Background in consulting. Skills and Qualifications: Business consulting experience IAPP Privacy Manager / Privacy Technologist Location Greater London UK based role. Not able to provide VISA sponsorship.
-
- Security Analyst - Internal role. London commutable. Permanent
- London
- N/A
-
Security Analyst - Internal role. London commutable opportunity. Operational Security - Investigate, escalate and proactively work to ensure household name remains protected. Project Security - Coordinate, log change requests with project delivery teams to meet security requirements Policy / compliance - work with team to aid in uplifting these as and where needed This role is role to investigate, escalate and proactively work to protect a globally recognised brand. You must have current hands on operational analytical security experience with Microsoft technology stack Someone with a SOC Analyst / security engineering background would be well suited. This position will join a small team and would suit someone that has broad experience across the security threat landscape. Experience / knowledge across industry GRC standards such NIST, ISO27001 etc very advantageous and a priority. You will work across multiple teams proactively working to secure the business. Must be able to commute to Central London 3 days a week. Visa sponsorship not available Apply today to find out more.
-
- Network / Security Infrastructure Engineer | West London | Permanent
- London
- N/A
-
Network / Security Infrastructure Engineer | West London | Current Config, Install, upgrade experience On prem / Datacetner experience essential. Hands on experience MUST include: Routing, Switching, Network Security (firewall, IDS etc), Microsoft exchange / Exchange 365. Scripting / automation experience wanted. Python, Powershell etc Regular travel to West London is required. Visa sponsorship not available. Apply today for more information chris.holt@dclsearch.com Use this whatapp link to reach out https://wa.me/message/6USF5RAQBOZIP1