In public markets, the FOCUS Communications Service Provider Index (CSPI) had a second straight reporting period in the red, dropping 1.7% in the past three months. This meant that the CSPI underperformed the broader indices by a fairly wide margin, as the S&P 500 and the NASDAQ were up 2.9% and 6.3%, respectively, over the corresponding time period. The situation is even bleaker for the full year. Over this time frame, the CSPI dropped 10.0%, while the S&P 500 was up 12.2% and the NASDAQ was up 22.3%. As one might expect given these losses, multiples are down from a year ago. The sector revenue multiple declined from 2.5x to 2.4x, while the sector EBITDA multiple declined from 7.7x to 7.4x.
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Kahla Cooper is the Director of Marketing at FOCUS. In this role, Ms. Cooper designs and implements the overall marketing strategy. Ms. Cooper works with each industry team leader to define programs in order to promote and brand FOCUS’ suite of capabilities.
