
	2016 Quarter Ended
	September 30		December 31		March 31 (1) (2)		June 30 (3) (4)		Total
	(in millions)
Revenue	$	366.8	$	369.6	$	478.0	$	507.3	$	1,721.7
Operating costs and expenses
Operating costs (excluding depreciation and amortization and including stock-based compensation)		113.0		112.2		170.8		182.7		578.7
Selling, general and administrative expenses (including stock-based compensation)		84.6		85.0		112.5		104.3		386.4
Depreciation and amortization		117.1		113.7		137.2		148.3		516.3
Total operating costs and expenses		314.7		310.9		420.5		435.3		1,481.4
Operating income		52.1		58.7		57.5		72.0		240.3
Other expenses
Interest expense		(53.8)		(51.2)		(57.7)		(57.4)		(220.1)
Loss on extinguishment of debt		—		—		—		(33.8)		(33.8)
Foreign currency loss on intercompany loans		(10.7)		(7.1)		(11.1)		(24.9)		(53.8)
Other expense, net		(0.1)		(0.1)		(0.2)		0.1		(0.3)
Total other expenses, net		(64.6)		(58.4)		(69.0)		(116.0)		(308.0)
(Loss)/earnings from operations before income taxes		(12.5)		0.3		(11.5)		(44.0)		(67.7)
Provision/(benefit) for income taxes		2.7		11.1		7.8		(13.1)		8.5
Net loss	$	(15.2)	$	(10.8)	$	(19.3)	$	(30.9)	$	(76.2)

(1)

The Company realized an increase in revenue and operating expenses beginning January 1, 2016 as a result of the acquisitions of Viatel and Dallas Data Center.

(2)

The Company realized an increase in revenue and operating expenses beginning January 15, 2016 as a result of the acquisition of Allstream.

(3)

The Company realized an increase in revenue and operating expenses beginning April 1, 2016 as a result of the acquisition of Clearview.

(4)

The Company completed debt refinancing transactions during April and May, resulting in a loss on debt extinguishment in the fourth quarter. See Note 8 – Long Term Debt.

The following table presents the unaudited quarterly results for the year ended June 30, 2015:


	2015 Quarter Ended (1)
	September 30 (1)		December 31		March 31 (3) (4)		June 30		Total
	(in millions)
Revenue	$	320.6	$	323.9	$	340.7	$	361.9	$	1,347.1
Operating costs and expenses
Operating costs (excluding depreciation and amortization and including stock-based compensation)		107.3		97.8		100.9		107.5		413.5
Selling, general and administrative expenses (including stock-based compensation) (2)		156.8		32.1		83.0		86.5		358.4
Depreciation and amortization		96.0		96.9		100.1		113.2		406.2
Total operating costs and expenses		360.1		226.8		284.0		307.2		1,178.1
Operating (loss)/income		(39.5)		97.1		56.7		54.7		169.0
Other expenses
Interest expense		(46.9)		(53.4)		(60.7)		(53.0)		(214.0)
Loss on extinguishment of debt (5)		—		(30.9)		(54.9)		(8.5)		(94.3)
Foreign currency (loss)/gain on intercompany loans		(14.7)		(13.3)		(13.2)		16.8		(24.4)
Other expense, net		—		(0.1)		—		(0.3)		(0.4)
Total other expenses, net		(61.6)		(97.7)		(128.8)		(45.0)		(333.1)
(Loss)/earnings from operations before income taxes		(101.1)		(0.6)		(72.1)		9.7		(164.1)
Provision/(benefit) for income taxes		9.4		(4.4)		(18.4)		4.6		(8.8)
Net (loss)/earnings	$	(110.5)	$	3.8	$	(53.7)	$	5.1	$	(155.3)

(1)

The Company realized an increase in revenue and operating expenses beginning July 1, 2014 as a result of the acquisition of AtlantaNap and Neo.

(2)

The Company realized an increase in compensation expense in the first quarter as a result of an increase in the estimated fair value of CII common units as a result of the pending IPO. The common unit fair values were further adjusted in second quarter upon completion of the IPO. See Note 12— Stock-based Compensation.

(3)

The Company realized an increase in revenue and operating expenses beginning January 1, 2015 as a result of the acquisition of IdeaTek.

(4)

The Company realized an increase in revenue and operating expenses beginning February 23, 2015 as a result of the acquisition of Latisys.

(5)

The Company completed debt refinancing transactions during the second, third and fourth quarters of Fiscal 2015, resulting in a loss on debt extinguishment for those respective periods. See Note 8— Long-Term Debt.