Leading specialty contracting services provider,
Dycom Industries Inc.
) reported first-quarter fiscal 2014 GAAP net income of $18.7
million or 54 cents per share, beating the Zacks Consensus
Estimate of 46 cents per share. In the prior-year quarter, the
company had reported net income of $11.9 million or 35 cents per
share. The year over year increase was primarily driven by a
significant top-line growth.
Dycom's total revenue surged 58.6% year over year to $512.7
million. The company's organic contract revenues grew 10% after
excluding revenues worth $157.1 million from its acquisitions in
2013. Revenues beat the Zacks Consensus Estimate of $485 million
by 6.7%. The company's revenues primarily benefited from the
improving infrastructure industry in U.S. Also the company's
performance was boosted by an unprecedented growth in high-speed
mobile internet business, in particular for wireless data and
video, which has transformed the telecom industry into one of the
most evolving industries.
Income and Expenses
The company reported adjusted EBITDA of $63.2 million compared
with $40.4 million in the prior-year quarter.
The company's general and administration expenses were $43.1
million versus $28.8 million in the prior-year quarter.
Balance Sheet and Cash Flow
Cash and cash equivalents decreased to $14.4 million at the
quarter-end, compared with $18.6 million at the end of Jul 27,
2013. The company reported total equity of $461.0 million,
compared with $428.4 million at the end of the previous quarter.
The company's long-term debt increased to $475.7 million compared
with last year's figure of $444.2 million.
Along with the earnings release, management provided guidance
for the second quarter of fiscal 2014. Revenues for the second
quarter of fiscal 2014 are expected to be in the range of $400
million to $420 million.
For the second quarter of fiscal 2014, the company expects
diluted earnings per share to range from 3 cents to 9 cents.
Dycom currently carries a Zacks Rank #3 (Hold). Some other
players within the sector that are worth mentioning include
), which carries a Zacks Rank #1 (Strong Buy), and
Jiangsu Expressway Co. Ltd.
), each carrying a Zacks Rank #2 (Buy).
DYCOM INDS (DY): Free Stock Analysis Report
JIANSU EXPWY CO (JEXYY): Get Free Report
REXNORD CORP (RXN): Free Stock Analysis
VSE CORP (VSEC): Free Stock Analysis Report
To read this article on Zacks.com click here.