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New Tier 3 Facility Offers Additional Choices for Customized Colocation, Cloud Storage and Ultra-low Latency Transport in Dallas’s Central Business District

FiberLight LogoATLANTA – March 15, 2017 – FiberLight, LLC, an industry leader in providing high performance last-mile fiber transport services, today announces a partnership with Provision Data Services (Provision), a provider of Tier 3 data center services headquartered in Dallas. Under this partnership, FiberLight will construct dual entrances into Provision’s recently opened downtown Dallas data center. The 137,000-square-foot data infrastructure, located at 2020 Live Oak Street, features 14 MW capacity in Dallas’ Central Business District (CBD). Once construction into the facility is complete, local and regional companies in the Dallas-Fort Worth area will have ready access to a combination of carrier-class fiber optic networking solutions through FiberLight, and scalable colocation and interconnection services through Provision.

“Our new data center in the heart of Dallas’ CBD offers unrivaled available square footage and power redundancy, plus the experience and expertise that comes from our leadership team’s combined 80 years in the data center and transport industries,” says Clay Hill, Provision’s co-founder and Chief Executive Officer. “By providing custom-engineered colocation design alongside in-demand storage and managed cloud solutions, Provision is poised to offer businesses in North Texas robust and reliable data center offerings with convenience.”

FiberLight is one of the first fiber optic carriers to be able to provide services into and out of Provision’s Dallas data center. Its presence within the facility will allow tenants to secure high-bandwidth connectivity to FiberLight’s dense optical network for transport between the data center, into critical business locations, and back to the Internet through additional peering points and Points of Presence (PoPs).  Further, the construction required for this project will tie seamlessly into FiberLight’s existing multi-state metro footprints over its recently announced 100-Gigabit long-haul network.

“FiberLight has invested heavily in strengthening our fiber-rich network in Texas, which demonstrates our commitment to supporting the unmatched growth of its technology markets and overall economy,” says Jim Lynch, Chief Executive Officer for FiberLight. “FiberLight and Provision are similarly aligned with respect to our vision to provide state-of-the-art infrastructure for innovative organizations that are creating dynamic technological change both within Texas and across the nation. We’re excited for the opportunities this partnership presents.”

FiberLight owns and manages over 1.7 million fiber miles in over 400 cities and towns across the United States. It also maintains over 17,000 backbone access points, 1,700 on-net locations and presence in over 100 data centers across the country.

To learn more about FiberLight and its services, visit www.fiberlight.com.

# # #

About FiberLight

FiberLight is a premier provider of fiber-optic based, high-performance networking services for telecom carriers, government, enterprise, content providers and web-centric businesses.  FiberLight owns over 1,700,000 miles of robust fiber networks in over 44 key growth areas in US cities and towns within Florida, Georgia, Maryland, Texas, Virginia and Washington, D.C., offering wide area networking options at layers 1, 2 and 3 to major commercial hubs throughout the country. To learn more about FiberLight’s service offerings, visit www.fiberlight.com.

About Provision Data Services

Provision Data Services provides secure and scalable data center, colocation and interconnection solutions with Tier 3 reliability for enterprise users. Provision's managed data center services are anchored in densely connected, strategically located facilities. Headquartered in Dallas, the company's customized IT solutions offer customers advanced IT infrastructures to allocate company resources more efficiently. For more information, visit Provision Data Services' website at ‪www.provisiondataservices.com.

Media Contacts:

iMiller Public Relations for FiberLight

Tel: +1.866.307.2510

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

TruePoint Communications for Provision Data Services

Tel: +1.972.380.9595, ext. 3373

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The Annual Event Set for April 20, 2017 Features Speakers from Boingo Wireless, Corning, Cowen Group, GIANT Solutions, SpiderCloud Wireless, SQUAN, Tilson, Vornado Realty, ZenFi and More

New York, NY – March 14, 2017 – The Northeast DAS & Small Cell Association (NEDAS), a consortium of in-building wireless solution providers including Distributed Antenna System (DAS), Small Cell professionals, Heterogeneous Network (HetNet) solutions and end-users throughout the Northeast and Mid-Atlantic states, announces the agenda for its fifth annual New York City Summit.  The program features a full day of panel discussions, breakout sessions, lightning talks and tabletop exhibits set for April 20, from 8:30 a.m. to 8:00 p.m. at the New York Academy of Medicine in Manhattan.

Attracting more than 400 leading industry executives, product innovators and telecom engineers from vendors, service providers and more, the NEDAS NYC Summit explores key issues concerning DAS, Wi-Fi, and Small Cell technology solutions, and how to leverage these technologies to serve the needs of end-users and support the exploding demand that continues to drive communication network solutions.

The theme of this year’s event is “2017: The Year IoT Demands Infrastructure to be Reshaped Above and Below the Ground.”  Subject matter experts will discuss the converging needs of wireline and wireless industry providers, and how to work more collaboratively and better understand the technology requirements to enable end-users to connect and stream data and information from anywhere and any device.

The NEDAS NYC Summit agenda includes the following panels and presentations:

“The converging requirements of wireline and wireless communication solutions are important conversations technology companies need to have in order to enable end-users to access information, no matter where they are located,” states Ilissa Miller, President of NEDAS and CEO of iMiller Public Relations.  “This year’s program brings thought-leaders together from both the wireline and wireless sectors to have these important discussions.  It is an honor to bring these executives together to collaborate, educate and enable innovation in one location.”

Sponsors of the Fifth Annual NEDAS NYC Spring Summit include:

ADRF Perfect-10 Wireless
Alliance Corporation RD Microwaves
American Tower RF Industries
Anritsu SOLiD
Csquared Systems SQUAN
Delta TESSCO
Intelibs Tilson Tech
J.A. Lee Times Microwaves System
JMA Wireless Westell
PCTEL  

Registration for the NEDAS NYC 2017 Summit is open to accredited media and analysts.  To attend the NEDAS event, please contact This email address is being protected from spambots. You need JavaScript enabled to view it. for a complimentary registration code.

Limited sponsorship opportunities are still available.  To learn more, please contact sponsorship sales at This email address is being protected from spambots. You need JavaScript enabled to view it..  For more information about the Northeast DAS & Small Cell Association, please visit www.nedas.com.

# # #

About Northeast DAS & Small Cell Association (NEDAS)

Northeast DAS & Small Cell Association (NEDAS) is a grassroots wireless telecom association whose mission is to create a positive, nonpartisan and invigorating environment in which local industry professionals can learn, discuss, debate, socialize, collaborate with their peers, and encourage networking, public outreach and education about the DAS and Small Cell industries. 2016 Platinum Sponsors include AnritsuJMA WirelessPCTELSOLiDTESSCOWestell and ZenFi Networks; Annual Gold Sponsors are ADRF Technologies, and RF Industries; Silver Sponsor is Corning.  For more information, visit www.nedas.com.

MEDIA INQUIRIES:

Anne Whealdon
iMiller Public Relations 
Tel: +1.866.307.2501
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Delivers Record Revenue, Adjusted EBITDA and Adjusted EBITDA margins

Q4 Revenue Grew 18.9% Year-Over-Year to $136.5 Million; Up 3.5% Sequentially

Q4 Adjusted EBITDA Grew 32.3% Year-Over-Year to $33.8 Million; Up 5.1% Sequentially

2016 Revenue Grew 41.3% to $521.7 Million; 2016 Adjusted EBITDA Grew 62.3% to $125.0 Million

McLean, VA, March 8, 2017 GTT Communications, Inc. (NYSE: GTT), the leading global cloud networking provider to multinational clients, announced today its financial results for the quarter and year ended December 31, 2016.

Fourth quarter highlights:

  • Revenue of $136.5 million grew 18.9% over 4Q15, and grew 3.5% over 3Q16.
  • Net loss was $0.9 million, compared to net income of $27.6 million in 4Q15* and net income of $5.1 million in 3Q16.
  • Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”) of $33.8 million grew 32.3% over 4Q15, and grew 5.1% over 3Q16. Adjusted EBITDA margin of 24.8% grew 260 basis points over 4Q15 and grew 40 basis points over 3Q16.
  • Capital expenditures were $6.4 million (4.7% of revenue), compared to $4.2 million in 4Q15 (3.7% of revenue) and $5.5 million in 3Q16 (4.2% of revenue).
  • Using constant currency (i) 4Q16 revenue and Adjusted EBITDA would have been higher than reported by $2.1 million and $1.0 million, respectively, compared to 4Q15, and (ii) 4Q16 revenue and Adjusted EBITDA would have been higher than reported by $0.8 million and $0.4 million, respectively, compared to 3Q16.

Full year highlights:

  • Revenue of $521.7 million grew 41.3% over 2015.
  • Net income was $5.3 million compared to $19.3 million in 2015*.
  • Adjusted EBITDA of $125.0 million grew 62.3% over 2015, and Adjusted EBITDA margin of 24.0% grew 310 basis points over 2015.
  • Capital expenditures were $24.2 million (4.6% of revenue) compared to $14.1 million in 2015 (3.8% of revenue).
  • Using constant currency, 2016 revenue and Adjusted EBITDA would have been higher than reported by $2.8 million and $1.2 million, respectively, compared to 2015.

On a pro forma basis, assuming (i) OSN and MegaPath’s historical results had been included for all applicable periods presented, and (ii) constant currency:

  • 4Q16 revenue and Adjusted EBITDA grew 16.0% and 30.8%, respectively, over 4Q15.
  • 4Q16 revenue and Adjusted EBITDA grew 4.1% and 6.3%, respectively, over 3Q16.
  • 2016 revenue and Adjusted EBITDA grew 13.1% and 31.9%, respectively, over 2015.

*Note: In 4Q15, net income included an income tax benefit of $34 million primarily related to the release of the company’s valuation allowance against U.S. deferred tax assets.

See “Annex A: Non-GAAP Financial Information” for more information regarding the computation of Adjusted EBITDA, constant currency and pro forma calculations.

The results above exclude the Hibernia Networks acquisition, which closed on January 9, 2017. Please refer to the amended 8-K filed today, March 8, 2017, to see Hibernia Networks’ 2016 results. In addition, supplemental tables have been added to Annex A below to show GTT’s revenue, Adjusted EBITDA and capex on a pro forma basis, assuming Hibernia’s historical results had been included for all periods presented.

“In 2016, GTT recorded another record year of growth and strategic achievement, firmly establishing our position as the challenger brand in our industry,” stated Rick Calder, GTT president and CEO. “In January, we completed the acquisition of Hibernia Networks, and integration is on schedule. For 2017, we will continue to drive execution of our growth strategy by expanding our portfolio of cloud networking services, extending our global network reach and delivering an outstanding client experience by living our core values of simplicity, speed and agility.”

“GTT’s fourth quarter performance demonstrated consistent execution, delivering strong growth in revenue and cash flow, as well as margin expansion,” stated Mike Sicoli, chief financial officer. “We are well positioned to drive continued growth in revenue, profitability and cash flow in 2017, and with the Hibernia Networks acquisition complete, we have accelerated our progress toward our next financial objectives of $1 billion in revenue and $250 million in Adjusted EBITDA.”

Conference Call Information

GTT will hold a conference call on Wednesday March 8, 2017, at 8:30 a.m. Eastern Time. To participate in the live conference call, interested parties may dial +1.844.875.6916 or +1.412.317.6714, enter passcode 10100716, and ask for the GTT Communications call, or view the webcast at GTT’s website.

A telephonic replay of the conference call will be available for one week and may be accessed by calling +1.877.344.7529 or +1.412.317.0088 and using the passcode 10100716. The webcast will be archived in the investor relations section of GTT's website.

Forward-Looking Statements

This earnings release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding GTT Communications, Inc.’s, plans, objectives and strategies or future events or future financial performance. Actual events or results may differ materially from those in the forward-looking statements as a result of various important factors, including those described in the Company’s filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by the Company, or any other person, that such forward-looking statements will be achieved. The business and operations of the Company are subject to substantial risks, which increase the uncertainty inherent in forward-looking statements. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.

About GTT

GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including wide area networking, Internet, managed services and voice services. The company’s Tier 1 IP network, ranked in the top five worldwide, connects clients to any location in the world and any application in the cloud. GTT delivers an outstanding client experience by living its core values of simplicity, speed and agility. For more information on how GTT is redefining global communications, please visit www.gtt.net.

GTT Media Inquiries:

Gina Nomellini

+1.512.721.0338

This email address is being protected from spambots. You need JavaScript enabled to view it.

GTT Investor Relations:

Jody Burfening/Carolyn Capaccio, LHA

+1.212.838.3777

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GTT Communications, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(Amounts in millions, except for share and per share data)

  Three Months Ended December 31  

Year Ended

December 31

  2016   2015   2016   2015
               
Revenue:              
Telecommunications services $ 136.5     $ 114.8     $ 521.7     $ 369.3  
               
Operating expenses:              
Cost of telecommunications services 71.4     61.9     274.0     204.5  
Selling, general and administrative expenses 38.0     32.3     143.2     101.7  
Severance, restructuring and other exit costs     4.9     0.9     12.7  
Depreciation and amortization 16.6     14.2     62.8     46.7  
               
Total operating expenses 125.9     113.3     480.9     365.6  
               
Operating income 10.6     1.5     40.8     3.7  
               
Other expense:              
Interest expense, net (7.8 )   (6.1 )   (29.4 )   (13.9 )
Loss on debt extinguishment     (2.4 )   (1.6 )   (3.4 )
Other expense, net     0.6     (0.6 )   (1.2 )
               
Total other expense (7.8 )   (7.9 )   (31.6 )   (18.5 )
               
Income (loss) before income taxes 2.8     (6.4 )   9.2     (14.8 )
               
Provision for (benefit from) income taxes 3.6     (34.0 )   3.9     (34.1 )
               
Net (loss) income $ (0.9 )   $ 27.6     $ 5.3     $ 19.3  
               
(Loss) earnings per share:              
Basic $ (0.02 )   $ 0.77     $ 0.14     $ 0.55  
Diluted $ (0.02 )   $ 0.75     $ 0.14     $ 0.54  
               
Weighted average shares:              
Basic 37,221,037     36,060,212     37,055,663     34,973,284  
Diluted 37,221,037     36,906,979     37,568,915     35,801,395  

GTT Communications, Inc.

Condensed Consolidated Balance Sheets

 (Unaudited, amounts in millions, except for share and per share data) December 31, 2016   December 31, 2015
       
ASSETS      
Current assets:      
Cash and cash equivalents $ 29.7     $ 14.6  
Accounts receivable, net of allowances of $2,656 and $1,015, respectively 76.3     60.4  
Deferred costs 3.4     4.2  
Prepaid expenses and other assets 9.3     13.6  
Total current assets 118.7     92.8  
Restricted cash and cash equivalents 304.3      
Property and equipment, net 43.4     38.8  
Intangible assets, net 193.9     182.2  
Goodwill 280.6     271.0  
Other long-term assets 12.3     11.6  
Total assets $ 953.2     $ 596.4  
LIABILITIES AND STOCKHOLDERS EQUITY      
Current liabilities:      
Accounts payable 11.3     22.7  
Accrued expenses and other current liabilities 36.9     43.1  
Acquisition earn-outs and holdbacks 24.4     12.8  
Capital lease, current 1.0     1.4  
Short-term portion of long-term debt 4.3     4.0  
Deferred revenue, short-term portion 17.9     15.5  
Total current liabilities 95.8     99.5  
Capital lease, noncurrent 0.1     1.0  
Long-term debt, term loan 425.2     382.2  
Senior notes held in escrow 300.0      
Deferred revenue, long-term portion 3.4     2.3  
Other long-term liabilities 0.9     0.9  
Total liabilities 825.4     485.9  
Commitments and contingencies      
Stockholders equity:      
Common stock, par value $.0001 per share, 80,000,000 shares authorized, 37,228,144 and 36,533,634 shares issued and outstanding as of December 31, 2016 and 2015, respectively      
Additional paid-in capital 197.3     182.8  
Accumulated deficit (64.6 )   (69.9 )
Accumulated other comprehensive loss (4.9 )   (2.4 )
Total stockholders equity 127.8     110.5  
Total liabilities and stockholders equity $ 953.2     $ 596.4  

GTT Communications, Inc.

Condensed Consolidated Statements of Cash Flows

  (Unaudited, amounts in millions, except for share and per share data) Three Months Ended December 31  

Year Ended

December 31

  2016   2015   2016   2015
Cash flows from operating activities:              
Net (loss) income $ (0.9 )   $ 27.6     $ 5.3     $ 19.3  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:              
Depreciation and amortization 16.6     14.2     62.8     46.7  
Share-based compensation 4.9     2.5     15.8     7.9  
Debt discount amortization 0.3     0.2     0.9     0.2  
Loss on debt extinguishment     2.4     1.6     3.4  
Amortization of debt issuance costs 0.3     0.3     1.5     1.0  
Deferred income taxes 2.2     (30.5 )   2.2     (30.5 )
Change in fair value of acquisition earn-out             0.9  
Changes in operating assets and liabilities, net of acquisitions 4.3     (11.9 )   (29.6 )   (24.3 )
Net cash provided by operating activities 27.7     4.8     60.5     24.6  
               
Cash flows from investing activities:              
Acquisition of businesses, net of cash acquired     (169.3 )   (14.1 )   (300.7 )
Purchase of customer contracts (14.0 )       (20.0 )    
Change in restricted cash and cash equivalents (304.3 )       (304.3 )    
Purchases of property, equipment and software (6.4 )   (4.2 )   (24.2 )   (14.1 )
Net cash used in investing activities (324.7 )   (173.5 )   (362.6 )   (314.8 )
               
Cash flows from financing activities:              
Proceeds from revolving line of credit 14.0     5.0     47.0     5.0  
Repayment of revolving line of credit         (32.0 )    
Proceeds from term loan     392.0     29.9     622.0  
Repayment of term loan (1.1 )   (224.3 )   (4.2 )   (353.6 )
Proceeds from senior note 300.0         300.0      
Payment of earn-out and holdbacks     (0.5 )   (15.6 )   (3.7 )
Debt issuance costs (0.5 )   (7.8 )   (1.4 )   (12.6 )
Repayment of capital leases (0.4 )   (0.3 )   (1.8 )   (0.9 )
Proceeds from issuance of common stock under employee stock purchase plan 0.1         1.2      
Tax withholding related to the vesting of restricted stock awards (2.2 )   (1.5 )   (5.7 )   (3.5 )
Exercise of stock options 0.8     0.2     1.2     0.9  
Net cash provided by financing activities 310.7     162.8     318.6     253.6  
Effect of exchange rate changes on cash 0.6     0.8     (1.4 )   1.9  
Net increase (decrease) in cash and cash equivalents 14.3     (5.1 )   15.1     (34.7 )
Cash and cash equivalents at beginning of year 15.4     19.7     14.6     49.3  
Cash and cash equivalents at end of period $ 29.7     $ 14.6     $ 29.7     $ 14.6  

ANNEX A: Non-GAAP Financial Information

In addition to financial measures prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), from time to time we may use or publicly disclose certain “non-GAAP financial measures” in the course of our financial presentations, earnings releases, earnings conference calls and otherwise. For these purposes, the U.S. Securities and Exchange Commission (“SEC”) defines a “non-GAAP financial measure” as a numerical measure of historical or future financial performance, financial positions or cash flows that (i) excludes amounts, or is subject to adjustments that effectively exclude amounts, included in the most directly comparable measure calculated and presented in accordance with GAAP in financial statements, and (ii) includes amounts, or is subject to adjustments that effectively include amounts, that are excluded from the most directly comparable measure so calculated and presented.

Non-GAAP financial measures are provided as additional information to investors to provide an alternative method for assessing our financial condition and operating results. We believe that these non-GAAP measures, when taken together with our GAAP financial measures, allow us and our investors to better evaluate our performance and profitability. These measures are not in accordance with, or a substitute for GAAP and may be different from or inconsistent with non-GAAP financial measures used by other companies. These measures should be used in addition to and in conjunction with results presented in accordance with GAAP and should not be relied upon to the exclusion of GAAP financial measures.

Pursuant to the requirements of Regulation G, whenever we refer to a non-GAAP financial measure, we will also generally present the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference and such comparable GAAP financial measure.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (“Adjusted EBITDA”)

Adjusted EBITDA is defined as net income/(loss) before interest, income taxes, depreciation and amortization (“EBITDA”) adjusted to exclude severance, restructuring and other exit costs, acquisition-related transaction and integration costs, losses on extinguishment of debt, stock-based compensation and, from time to time, other non-cash or non-recurring items.

We use Adjusted EBITDA to evaluate operating performance, and this financial measure is among the primary measures we use for planning and forecasting future periods. We further believe that the presentation of Adjusted EBITDA is relevant and useful for investors because it allows investors to view results in a manner similar to the method used by management and makes it easier to compare our results with the results of other companies that have different financing and capital structures. In addition, we have debt covenants that are based on a leverage ratio that utilizes a modified EBITDA calculation, as defined in our Credit Agreement. The modified EBITDA calculation is similar to our definition of Adjusted EBITDA; however, it includes the pro forma Adjusted EBITDA of and expected cost synergies from the companies acquired by us during the applicable reporting period. Finally, Adjusted EBITDA results, along with other quantitative and qualitative information, are utilized by management and our compensation committee for purposes of determining bonus payouts to our employees.

Adjusted EBITDA Less Capital Expenditures

Adjusted EBITDA less purchases of property and equipment, which we also refer to as capital expenditures, is a performance measure that is used to evaluate the appropriate level of capital expenditures needed to support our expected revenue and to provide a comparable view of our performance relative to other telecommunications companies that may utilize different strategies for providing access to fiber-based services and related infrastructure. We use a “capex light” strategy, which means we purchase fiber-based services and related infrastructure from other providers on an as-needed basis, pursuant to our customers’ requirements. Many other telecommunications companies spend significant amounts of capital expenditures to construct their own fiber networks and data centers, and attempt to purchase as little as possible from other providers. As a result of our strategy, we typically have lower Adjusted EBITDA margins compared to other providers but also spend much less on capital expenditures relative to our revenue. We believe it is important to take both of these factors into account when evaluating our performance.

The following is a reconciliation of Adjusted EBITDA and Adjusted EBITDA less capital expenditures from Net (Loss) Income (amounts in millions):

  Three Months Ended December 31,   Year Ended December 31,
(Amounts in millions, except share and per share data) 2016   2015   2016   2015
               
Adjusted EBITDA              
Net (loss) income $ (0.9 )   $ 27.6     $ 5.3     $ 19.3  
Provision for (benefit from) income taxes 3.6     (34.0 )   3.9     (34.1 )
Interest and other expense, net 7.8     5.5     30.0     15.1  
Loss on debt extinguishment     2.4     1.6     3.4  
Depreciation and amortization 16.6     14.2     62.8     46.7  
Severance, restructuring and other exit costs     4.9     0.9   12.7  
Transaction and integration costs 1.7     2.4     4.7     6.0  
Share-based compensation 5.0     2.5     15.8     7.9  
Adjusted EBITDA 33.8     25.5     125.0     77.0  
               
Purchases of property and equipment (6.4 )   (4.2 )   (24.2 )   (14.1 )
Adjusted EBITDA less capital expenditures $ 27.4     $ 21.3     $ 100.8     $ 62.9  

Constant Currency

We evaluate our results of operations both as reported and on a constant currency basis. The constant currency presentation, which is a non-GAAP measure, excludes the impact of fluctuations in foreign currency exchange rates. We believe providing constant currency information offers valuable supplemental information regarding our results of operations, consistent with how we evaluate our performance. We calculate constant currency results by converting our current-period local currency financial results using prior-period exchange rates and comparing these adjusted amounts to our prior-period reported results.

Pro Forma Financial Information

In addition to financial measures prepared in accordance with GAAP, from time to time we may use or publicly disclose certain “pro forma” financial measures in the course of our financial presentations, earnings releases, earnings conference calls and otherwise. We believe certain pro forma financial measures provide a more comparable view of our results relative to prior periods, particularly given the number of acquisitions we have completed in the past.

The following unaudited pro forma financial information and related notes present the historical information of GTT as if the acquisitions of Hibernia Networks (“Hibernia”), One Source Networks, Inc. (“OSN”), and MegaPath Corporation ("MegaPath") had occurred on the first day of the period presented, if applicable.

For the three months ended December 31, 2016, compared with the three months ended December 31, 2015, the following unaudited financial information presents historical GTT information as if the acquisition of OSN had occurred on the first day of the period presented, as reported and in constant currency:

($ in millions)

Three Months Ended

December 31

  2016   2015
Revenue      
GTT as reported $ 136.5     $ 114.8  
GTT pro forma adjustments (1)      
OSN as reported     4.9  
OSN pro forma adjustments (2)     (0.2 )
Pro Forma Revenue $ 136.5     $ 119.5  
Pro Forma % Growth 14.2 %    
Pro Forma % Growth (Constant Currency) 16.0 %    
       
Adjusted EBITDA      
GTT as reported $ 33.8     $ 25.5  
GTT pro forma adjustments (3)      
OSN as reported     1.2  
OSN pro forma adjustments (4)     (0.1 )
Pro Forma Adjusted EBITDA $ 33.8     $ 26.6  
Pro Forma Adjusted EBITDA Margin % 24.8 %   22.3 %
Pro Forma % Growth 26.9 %    
Pro Forma % Growth (Constant Currency) 30.8 %    

 

(1) Represents revenue recognized by GTT from acquired company prior to its respective close date
(2) Represents (i) revenue recognized by acquired company from GTT prior to its respective close date and (ii) non-recurring installation revenue historically recognized on a cash basis by acquired company
(3) Represents revenue, net of expense, recognized by GTT from acquired company prior to its respective close date
(4) Represents (i) revenue, net of expense, recognized by acquired company from GTT prior to its respective close date, (ii) non-recurring installation revenue, net of non-recurring installation expenses, historically recognized on a cash basis by acquired company, (iii) non-cash stock compensation, and (iv) non-recurring expenses outside of the normal course of business.

For the three months ended December 31, 2016 compared with September 30, 2016, the following unaudited financial information presents historical GTT information, as reported and in constant currency:

($ in millions) Three Months Ended
  December 31, 2016   September 30, 2016
Revenue      
GTT as reported $ 136.5     $ 131.9  
Pro Forma Revenue $ 136.5     $ 131.9  
Pro Forma % Growth 3.5 %    
Pro Forma % Growth (Constant Currency) 4.1 %    
       
Adjusted EBITDA      
GTT as reported $ 33.8     $ 32.1  
Pro Forma Adjusted EBITDA $ 33.8     $ 32.1  
Pro Forma Adjusted EBITDA Margin % 24.8 %   24.4 %
Pro Forma % Growth 5.1 %    
Pro Forma % Growth (Constant Currency) 6.3 %    

For the year ended December 31, 2016, compared with December 31, 2015, the following unaudited financial information presents historical GTT information as if the acquisitions of OSN and MegaPath had occurred on the first day of the period presented, as reported and in constant currency:

($ in millions) Year Ended December 31
  2016   2015
Revenue      
GTT as reported $ 521.7     $ 369.3  
GTT pro forma adjustments (1)     (0.4 )
MegaPath as reported     33.0  
MegaPath pro forma adjustments (2)     (1.7 )
OSN as reported     65.5  
OSN pro forma adjustments (2)     (2.1 )
Pro Forma Revenue $ 521.7     $ 463.6  
Pro Forma % Growth 12.5 %    
Pro Forma % Growth (Constant Currency) 13.1 %    
       
Adjusted EBITDA      
GTT as reported $ 125.0     $ 77.0  
GTT pro forma adjustments (3)      
MegaPath as reported     5.0  
MegaPath pro forma adjustments (4)      
OSN as reported     12.9  
OSN pro forma adjustments (4)     0.8  
Pro Forma Adjusted EBITDA $ 125.0     $ 95.7  
Pro Forma Adjusted EBITDA Margin % 24.0 %   20.6 %
Pro Forma % Growth 30.7 %    
Pro Forma % Growth (Constant Currency) 31.9 %    

 

(1) Represents revenue recognized by GTT from acquired companies prior to their respective close dates.
(2) Represents (i) revenue recognized by acquired companies from GTT prior to their respective close dates and (ii) non-recurring installation revenue historically recognized on a cash basis by acquired companies.
(3) Represents revenue, net of expense, recognized by GTT from acquired companies prior to their respective close dates.

(4) Represents (i) revenue, net of expense, recognized by acquired companies from GTT prior to its respective close dates,  (ii) non-recurring installation revenue, net of non-recurring installation expenses, historically recognized on a cash basis by acquired companies,  (iii) non-cash stock compensation, and (iv) non-recurring expenses outside of the normal course of business.

 

For the three months ended December 31, 2016, compared with the three months ended December 31, 2015, the following unaudited financial information presents historical GTT information as if the acquisitions of Hibernia and OSN had occurred on the first day of the period presented, as reported and in constant currency:

($ in millions) Three Months Ended
  December 31, 2016   December 31, 2015
Revenue      
GTT as reported $ 136.5     $ 114.8  
GTT pro forma adjustments (1)      
OSN as reported     4.9  
OSN pro forma adjustments (2)     (0.2 )
Hibernia as reported 43.4     44.5  
Hibernia pro forma adjustments (2) (1.5 )   (1.5 )
Pro Forma Revenue $ 178.4     $ 162.5  
Pro Forma % Growth 9.8 %    
Pro Forma % Growth (Constant Currency) 12.1 %    
       
Adjusted EBITDA      
GTT as reported $ 33.8     $ 25.5  
GTT pro forma adjustments (3)      
OSN as reported     1.2  
OSN pro forma adjustments (4)     (0.1 )
Hibernia as reported 16.8     13.8  
Hibernia pro forma adjustments (4) (1.1 )   (1.1 )
Pro Forma Adjusted EBITDA $ 49.5     $ 39.3  
Pro Forma Adjusted EBITDA Margin % 27.7 %   24.2 %
Pro Forma % Growth 25.9 %    
Pro Forma % Growth (Constant Currency) 29.2 %    

 

(1) Represents revenue recognized by GTT from acquired companies prior to their respective close dates
(2) Represents (i) revenue recognized by acquired companies from GTT prior to their respective close dates and (ii) non-recurring installation revenue historically recognized on a cash basis by acquired companies, and (iii) adjustments in deferred revenue from acquired companies.
(3) Represents revenue, net of expense, recognized by GTT from acquired companies prior to their respective close dates
(4) Represents (i) revenue, net of expense, recognized by acquired companies from GTT prior to their respective close dates,  (ii) non-recurring installation revenue, net of non-recurring installation expenses, historically recognized on a cash basis by acquired companies,  (iii) adjustments in deferred revenue from acquired companies, (iv) non-cash stock compensation, and (v) non-recurring expenses outside of the normal course of business.

For the three months ended December 31, 2016 compared with September 30, 2016, the following unaudited financial information presents historical GTT information as if the acquisition of Hibernia had occurred on the first day of the period presented, as reported and in constant currency:

($ in millions) Three Months Ended
  December 31, 2016   September 30, 2016
Revenue      
GTT as reported $ 136.5     $ 131.9  
Hibernia as reported 43.4     45.5  
Hibernia pro forma adjustments (1) (1.5 )   (1.5 )
Pro Forma Revenue $ 178.4     $ 175.9  
Pro Forma % Growth 1.5 %    
Pro Forma % Growth (Constant Currency) 2.3 %    
       
Adjusted EBITDA      
GTT as reported $ 33.8     $ 32.1  
Hibernia as reported $ 16.8     $ 16.1  
Hibernia pro forma adjustments (2) $ (1.1 )   $ (1.1 )
Pro Forma Adjusted EBITDA $ 49.4     $ 47.1  
Pro Forma Adjusted EBITDA Margin % 27.7 %   26.8 %
Pro Forma % Growth 5.0 %    
Pro Forma % Growth (Constant Currency) 6.0 %    

 

(1) Represents (i) revenue recognized by acquired company from GTT prior to its respective close date, (ii) non-recurring installation revenue historically recognized on a cash basis by acquired company, and (iii) adjustments in deferred revenue from acquired company.
(2) Represents (i) revenue, net of expense, recognized by acquired company from GTT prior to its respective close date,  (ii) non-recurring installation revenue, net of non-recurring installation expenses, historically recognized on a cash basis by acquired company,  (iii) adjustments in deferred revenue from acquired company, (iv) non-cash stock compensation, and (v) non-recurring expenses outside of the normal course of business.

For the year ended December 31, 2016, compared with December 31, 2015, the following unaudited financial information presents historical GTT information as if the acquisitions of Hibernia, OSN and MegaPath had occurred on the first day of the period presented, as reported and in constant currency:

($ in millions) Year Ended
  December 31, 2016   December 31, 2015
Revenue      
GTT as reported $ 521.7     $ 369.3  
GTT pro forma adjustments (1)     (0.4 )
MegaPath as reported     33.0  
MegaPath pro forma adjustments (2)     (1.7 )
OSN as reported     65.5  
OSN pro forma adjustments (2)     (2.1 )
Hibernia as reported 182.1     148.9  
Hibernia pro forma adjustments (2) (5.9 )   (6.3 )
Pro Forma Revenue $ 697.9     $ 606.2  
Pro Forma % Growth 15.1 %    
Pro Forma % Growth (Constant Currency) 15.8 %    
       
Adjusted EBITDA      
GTT as reported $ 125.0     $ 77.0  
GTT pro forma adjustments (3)      
MegaPath as reported     5.0  
MegaPath pro forma adjustments (4)      
OSN as reported     12.9  
OSN pro forma adjustments (4)     0.8  
Hibernia as reported 65.9     34.2  
Hibernia pro forma adjustments (4) (4.5 )   (4.5 )
Pro Forma Adjusted EBITDA $ 186.4     $ 125.4  
Pro Forma Adjusted EBITDA Margin % 26.7 %   20.7 %
Pro Forma % Growth 48.6 %    
Pro Forma % Growth (Constant Currency) 49.2 %    

 

(1) Represents revenue recognized by GTT from acquired companies prior to their respective close dates.
(2) Represents (i) revenue recognized by acquired companies from GTT prior to their respective close dates, (ii) non-recurring installation revenue historically recognized on a cash basis by acquired companies, and (iii) adjustments to deferred revenue from acquired companies.
(3) Represents revenue, net of expense, recognized by GTT from acquired companies prior to their respective close dates.

(4) Represents (i) revenue, net of expense, recognized by acquired companies from GTT prior to their respective close dates,  (ii) non-recurring installation revenue, net of non-recurring installation expenses, historically recognized on a cash basis by acquired company,  (iii) adjustments to deferred revenue of acquired companies, (iv) non-cash stock compensation, and (v) non-recurring expenses outside of the normal course of business.

 


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CTO Sagi Brody to Speak on Disruptive Cloud and Hyper-converged Infrastructure Trends

NEW YORK, March 10, 2017 - Webair, a high-touch, agile Cloud and fully managed infrastructure service provider, today announces that its Chief Technology Officer, Sagi Brody, will speak at DCD Enterprise New York, taking place March 14-15, 2017 at the New York Marriot Marquis in Manhattan.

On Tuesday, March 14 at 3:00 p.m., Mr. Brody will join representatives from Nissan, Tau Institute and the Boston Consulting Group on the panel, “The Cloud and Hyper-Convergence – Infrastructure as the Cornerstone of Digital Transformation.”  Mr. Brody will explore how advanced cloud and software-centric hyper-converged architecture is transforming the technology industry, including providing substantial efficiency gains, simplicity and flexibility, as well as increased data control and management for today’s unpredictable data volume growth.  In addition, he will discuss how these infrastructure solutions address the growing need for more agile deployment capabilities, along with various challenges associated with deployment.

“The ‘Digital Era’ is driving the industry into another major technological revolution as cloud-based and hyper-converged infrastructure triggers a fundamental shift in colocation, and cloud hosting services and solutions,” explains Mr. Brody.  “I look forward to exploring and analyzing these industry trends and recent technological innovations, including their effect on how enterprises consume data center infrastructure and services, at DCD Enterprise New York.”

DCD Enterprise is a conference series designed to cover the holistic ecosystem of data center infrastructure.  The New York event will converge professionals from throughout the telecommunications industry and feature more than 100 hours of expert panels, keynote presentations, interactive workshops and roundtables, as well as an expo showcasing the latest technologies.

To request a meeting with the Webair team during DCD Enterprise New York, email This email address is being protected from spambots. You need JavaScript enabled to view it..

For more information about Webair, visit www.webair.com.

# # #

About Webair

Founded in 1996 and headquartered in New York, Webair is an innovative, agile and unique Managed Hosting company focused on providing the right solutions to customer needs as quickly and efficiently as possible. It does this by fully owning and controlling the entire technology stack — from the physical data center to the end-user application. Webair’s technology solutions portfolio encompasses Public, Private and Hybrid Cloud, Cloud Storage, Bare Metal Servers, Colocation, CDN, Security and Disaster Recovery. Combining industry-leading innovation, expert support and high-touch customer service, Webair serves as a true technology partner to enterprises and SMBs, healthcare organizations, IT firms, eCommerce companies and VoIP providers. Webair also operates an international network of data centers located in New York, Los Angeles, Montréal, Amsterdam, and Hong Kong.

Follow Webair on Twitter: @WebairInc, Facebook: facebook.com/WebairHosting and LinkedIn: www.linkedin.com/company/webair.

MEDIA INQUIRIES:

iMiller Public Relations for Webair

Tel: +1.866.307.2510

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.


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New York International Internet Exchange Exceeds 400Gbps

New York, NY, USA – March 7, 2017 – TELEHOUSE, the global leader for data centers, international Internet exchanges and managed IT services, achieved another  milestone on its New York International Internet Exchange (NYIIX) by surpassing 400 Gbps of traffic daily, this past month.

NYIIX was founded in 1996.  Currently, it is the number one public peering exchange in the New York and New Jersey peering market. The mission of NYIIX is to provide the Internet community with a neutral and scalable peering infrastructure, and assure reliability and stable Internet connectivity.  NYIIX has seven peering locations that can be found at www.nyiix.net.

The NYIIX membership base, in line with the overall business growth, has been consistently growing from day one and exceeds 158 members, while peering traffic has steadily increased.  As a result, reports show an increase in traffic averaging 400 Gbps per day.  In 2016 alone, NYIIX has experienced steady growth with the addition of existing colocation customers along with hosting and content providers.  Currently, NYIIX has seven peering locations, including 7 Teleport Drive, 85 Tenth Avenue, 32 Avenue of America, 111 8th Avenue, 60 Hudson, 165 Halsey, and 2 Emerson Lane.

“In addition to seeing the exponential growth in peering, we’re also observing an increase from our customers requesting alternatives in connectivity, including the public cloud,” says Akio Sugeno, Vice President, Internet Engineering, Operations and Business Development, TELEHOUSE. “TELEHOUSE will be making more announcements concerning enhanced interconnectivity and additional value-added services shortly.”

TELEHOUSE and parent company KDDI are Silver Sponsor of the PeeringDB and TELEHOUSE is a Gold Sponsor of the Global Peering Forum (GBF) 12.0 taking place April 21-23, 2017 in New York City.

TELEHOUSE owns and operates 48 data centers worldwide.  The company has two data centers in New York, including 85 Tenth Avenue in the Chelsea district of Manhattan and 7 Teleport Drive in Staten Island, New York, as well as one data center in California located in downtown Los Angeles at 626 Wilshire Blvd.

For more information about NYIIX or to see who is a member of the NYIIX peering exchange, visit www.nyiix.net.

To learn more about TELEHOUSE, visit www.telehouse.com.

# # #

About TELEHOUSE America

A stable and trusted pioneer of carrier-neutral data center services, TELEHOUSE provides secure, power-protected environments, where clients house and operate their telecommunications and network resources. Among the many benefits of collocating with TELEHOUSE is the ability to connect to state-of-the-art peering exchanges in New York (NYIIX) and Los Angeles (LAIIX). Additionally, the global availability of 48 TELEHOUSE-branded data centers in 23 cities throughout Asia, Africa, North America and EMEA, delivers continuous, cost-effective operation of network-dependent, IT infrastructure to businesses around the world. Please visit www.telehouse.com, or email at This email address is being protected from spambots. You need JavaScript enabled to view it. to learn more about the Channel Partner program. Connect with TELEHOUSE on Twitter and LinkedIn.

Media Contact

iMiller Public Relations for TELEHOUSE America
+1 866 307 2510
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