GTT Reports Second Quarter 2019 Financial Results
.jpg)
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
-
- CyberArk Architect
- London
- Upto £110,000 plus bonus and benefits
-
Are you ready to lead from the front and drive innovation in the Identity & Access Management (IAM) space? We’re looking for a seasoned CyberArk Architect who has CDE-CPC ideally or experience with privilege Cloud, someone who can lead with vision, execute with precision, and inspire teams to deliver excellence. As a key leader in our organisation, you’ll bring your strong business acumen and a technology-focused, innovative mindset to the table. You’ll be driving strategic initiatives, shaping transformation programs, and empowering teams to think big and deliver even bigger. Acting as a subject matter expert in CyberArk Leading strategic transformations in: Identity Governance Privileged Access Management (PAM) Access Management Customer Identity and Access Management (CIAM) Building and maintaining strong, collaborative relationships within the team Communicating clearly and confidently — both written and verbal — to deliver updates, raise potential issues, and share insights If you are interested in the above position we are looking for people with: deep expertise and a successful track record in IAM strategy, delivery, or assurance with CyberArk Hold relevant certifications such as CDE in Privileged Cloud or Guardian Have experience in a client-facing role (preferred, but not essential) Thrive in a hybrid working environment and are available to work from our or client London office three days a week Lead with clarity, communicate with impact, and adapt quickly to changing priorities
-
- OUTSIDE IR35 Splunk Engineer- SC Cleared.
- United Kingdom
- N/A
-
OUTSIDE IR35 Splunk Engineer- SC Cleared. You will be responsible for consolidating Splunk ES data from multiple feeds into a single pane of glass to enhance visibility and streamline security operations.
-
- Identity & Access Management Architect
- Edinburgh
- Upto £95000 plus bonus and benefits
-
Location: Edinburgh | Hybrid Working | Permanent Are you an experienced Identity & Access Management professional with a passion for designing and implementing cutting-edge security solutions? We are looking for a Lead Architect, where you’ll play a key role in helping clients enhance their IAM capabilities, protect critical data, and navigate complex security challenges. About the Role As a Lead Architect, you will be responsible for shaping and delivering IAM strategies, designing robust security solutions, and driving long-term digital transformation. You’ll leverage your expertise to provide strategic guidance on areas such as: Identity Governance & Administration (IGA) Privileged Access Management (PAM) Access Management (AM) Entitlement Management Directories & Authentication Solutions You will have the opportunity to work with innovative technologies and frameworks, ensuring that businesses can securely manage access to critical assets while enabling growth. What You’ll Be Doing Providing subject matter expertise in IAM and leading transformation projects for clients Developing IAM roadmaps, operating models, and governance frameworks Driving innovation by integrating IAM capabilities into wider digital transformation strategies Building and maintaining strong relationships with clients and stakeholders Designing and implementing scalable IAM solutions to meet business needs What We’re Looking For Proven experience in IAM strategy, solution architecture, or assurance Strong leadership skills with experience guiding technical teams Ability to work in a client-facing role, delivering clear communication and insights A technology-focused, innovative mindset with strong business acumen Willingness to work from our Edinburgh office 2-3 days per week
-
- Security Architect - Cloud - Consultancy London
- London
- N/A
-
Security Architect with a focus into Cloud (AWS, Azure or Google Cloud Platform) needed. You must have client facing consultancy experience. This mean you must have experience working with clients helping them to meet their security design needs. That could include working with existing internal teams to understand, review and mitigate / uplift existing Cloud Security designs, or perhaps helping clients set out / understand their current needs and deliver their cloud security strategy. (Or anything in between) Technical knowledge is of course essential but working with clients to understand and solve their Cloud Security design challenges is vital. You must obviously have a current history working as a cloud security architect. You will need to be commutable to London. Whilst a hybrid role the expectation is 3 days a week in the office / meeting clients. International relocation or Visa sponsorship isn’t available for this role. Apply on this page and arrange a call here https://calendly.com/d/crpz-m7j-wyx