Dycom Industries contract revenues up YoY

Dycom Industries, Inc. (NYSE: DY) said its contract revenues of USD578.5 million for the quarter ended July 25, 2015, compared to USD482.1 million for the quarter ended July 26, 2014.

Contract revenues for the quarter ended July 25, 2015 grew 18.2 percent on an organic basis after excluding revenues from acquired businesses that were not owned for the full period in both the current and prior year quarter. Total revenues from acquired businesses were USD11.8 million for the quarter ended July 25, 2015, compared to USD2.8 million for the quarter ended July 26, 2014.

Net income of USD33.8 million, or USD0.97 per common share diluted, for the quarter ended July 25, 2015, compared to USD16.5 million, or USD0.47 per common share diluted, for the quarter ended July 26, 2014. On a Non-GAAP basis, net income was USD16.9 million, or USD0.48 per common share diluted, for the quarter ended July 26, 2014. Net income — Non-GAAP for the quarter ended July 26, 2014 excludes the impact of pre-tax charges of USD0.6 million for a wage and hour class action settlement.
The company also reported:

Contract revenues of USD2.022 billion for the fiscal year ended July 25, 2015, compared to USD1.812 billion for the fiscal year ended July 26, 2014. Contract revenues for the fiscal year ended July 25, 2015 grew 9.6 percent on an organic basis after excluding revenues from acquired businesses that were not owned for the full year in both the current and prior year. Total revenues from acquired businesses were USD40.4 million for the fiscal year ended July 25, 2015, compared to USD2.8 million for the fiscal year ended July 26, 2014.

Dycom is a leading provider of specialty contracting services throughout the United States and in Canada. These services include engineering, construction, maintenance and installation services to telecommunications providers, underground facility locating services to various utilities, including telecommunications providers, and other construction and maintenance services to electric and gas utilities.