(16) QUARTERLY FINANCIAL DATA (UNAUDITED)

The following table presents the unaudited quarterly results for the year ended June 30, 2017:


	2017 Quarter Ended
	September 30		December 31		March 31 (1) (2)		June 30 (2)		Total
	(in millions)
Revenue	$	504.9	$	506.7	$	550.2	$	638.0	$	2,199.8
Operating costs and expenses
Operating costs (excluding depreciation and amortization and including stock-based compensation)		173.8		179.9		195.0		234.2		782.9
Selling, general and administrative expenses (including stock-based compensation)		105.6		104.7		108.8		117.1		436.2
Depreciation and amortization		138.5		131.4		155.7		181.3		606.9
Total operating costs and expenses		417.9		416.0		459.5		532.6		1,826.0
Operating income		87.0		90.7		90.7		105.4		373.8
Other expenses
Interest expense		(53.3)		(53.7)		(63.0)		(71.5)		(241.5)
Loss on extinguishment of debt		—		—		(4.5)		(13.7)		(18.2)
Foreign currency income/(loss) on intercompany loans		(11.2)		(17.4)		3.9		14.4		(10.3)
Other (expense)/income, net		(0.2)		0.4		0.5		(0.4)		0.3
Total other expenses, net		(64.7)		(70.7)		(63.1)		(71.2)		(269.7)
Income from operations before income taxes		22.3		20.0		27.6		34.2		104.1
Provision for income taxes		6.6		0.2		0.6		11.0		18.4
Net income	$	15.7	$	19.8	$	27.0	$	23.2	$	85.7

(1)

The Company realized an increase in revenue and operating expenses beginning March 1, 2017 as a result of the acquisition of Electric Lightwave Parent, Inc.

(2)

The Company recognized a loss on debt extinguishment associated with the write-off of unamortized debt issuance costs in the third and fourth quarters. See Note 7 – Long Term Debt.

The following table presents the unaudited quarterly results for the year ended June 30, 2016:


	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 (loss)/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)/gain on intercompany loans		(10.7)		(7.1)		(11.1)		(24.9)		(53.8)
Other (expense)/income, 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 7 – Long Term Debt.