GTT Communications (GTT) Quarterly Income Statement

Income Statement Summary

GTT Communications (GTT) quarterly income statement covering the six quarters from December 2018 to March 2020, as reported to the SEC.

GTT Communications reported telecommunications services of $424.7M in the quarter ended March 31, 2020, down 5.7% from $450.2M a year earlier.
That is 0.21% higher than the December 2019 quarter.
Operating income was $9.2M, down 76.2% from $38.7M. Operating margin was 2.2%.
Net loss was $83.3M, a bigger loss than the $27.3M a year earlier. Net margin was -19.6%.
Diluted (in dollars per share) was -$1.45, a bigger loss than the $0.49 a year earlier.
Cost of telecommunications services took 56% of telecommunications services and selling, general and administrative expenses 25.5%.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18
Revenue:
Telecommunications services
424,700	423,800	420,000	433,800	450,200	454,700	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Telecommunications services						424,700	423,800	420,000	433,800	450,200	454,700	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses:
Cost of telecommunications services
237,700	229,800	232,800	237,500	241,800	251,100	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of telecommunications services						237,700	229,800	232,800	237,500	241,800	251,100	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses
108,200	105,400	93,700	97,600	104,100	112,500	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Selling, general and administrative expenses						108,200	105,400	93,700	97,600	104,100	112,500	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Severance, restructuring and other exit costs
2,100	1,400	2,400	6,400	2,800	14,400	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Severance, restructuring and other exit costs						2,100	1,400	2,400	6,400	2,800	14,400	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and amortization
67,500	63,800	61,000	61,200	62,800	64,900	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and amortization						67,500	63,800	61,000	61,200	62,800	64,900	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating Costs and Expenses, Total
415,500	400,400	389,900	402,700	411,500	442,900	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating Costs and Expenses, Total						415,500	400,400	389,900	402,700	411,500	442,900	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income
9,200	23,400	30,100	31,100	38,700	11,800	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating income						9,200	23,400	30,100	31,100	38,700	11,800	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other expenses:
Interest expense, net
-48,800	-48,400	-48,800	-49,300	-48,200	-48,200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense, net						-48,800	-48,400	-48,800	-49,300	-48,200	-48,200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss on debt extinguishment
-2,300	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss on debt extinguishment						-2,300	-	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other expenses, net
-43,300	7,600	-8,000	-14,900	-16,000	-21,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other expenses, net						-43,300	7,600	-8,000	-14,900	-16,000	-21,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other expenses
-94,400	-40,800	-56,800	-64,200	-64,200	-69,200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other expenses						-94,400	-40,800	-56,800	-64,200	-64,200	-69,200	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss before income taxes
-85,200	-17,400	-26,700	-33,100	-25,500	-57,400	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss before income taxes						-85,200	-17,400	-26,700	-33,100	-25,500	-57,400	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Benefit from) provision for income taxes
-1,900	1,700	-500	200	1,800	-4,400	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Benefit from) provision for income taxes						-1,900	1,700	-500	200	1,800	-4,400	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss
-83,300	-19,100	-26,200	-33,300	-27,300	-53,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net loss						-83,300	-19,100	-26,200	-33,300	-27,300	-53,000	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss per share:
Basic (in dollars per share)
-1.45	-0.34	-0.46	-0.59	-0.49	-0.85	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in dollars per share)						-1.45	-0.34	-0.46	-0.59	-0.49	-0.85	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)
-1.45	-0.34	-0.46	-0.59	-0.49	-0.85	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in dollars per share)						-1.45	-0.34	-0.46	-0.59	-0.49	-0.85	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Weighted average shares:
Basic (in shares)
57,259	56,602	56,370	56,248	55,839	55,347	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic (in shares)						57,259	56,602	56,370	56,248	55,839	55,347	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)
57,259	56,602	56,370	56,248	55,839	55,347	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted (in shares)						57,259	56,602	56,370	56,248	55,839	55,347	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx