Dycom Industries contract revenues up YoY

Dycom Industries, Inc. (NYSE: DY) said its contract revenues were USD659.3 million for the first quarter of fiscal 2016 ended October 24, 2015, compared to USD510.4 million for the quarter ended October 25, 2014.

Contract revenues for the quarter ended October 24, 2015 grew 21.9 percent on an organic basis after excluding revenues from acquired businesses that were not owned for the entire period in both the current and prior year quarter.

Total revenues from acquired businesses were USD39.5 million for the quarter ended October 24, 2015, compared to USD1.9 million for the quarter ended October 25, 2014.

Non-GAAP Adjusted EBITDA of USD105.7 million, or 16.0 percent of contract revenues, for the quarter ended October 24, 2015, compared to USD66.4 million, or 13.0 percent of contract revenues, for the quarter ended October 25, 2014.

Non-GAAP Adjusted Net Income was USD42.0 million, or USD1.24 per common share diluted, for the quarter ended October 24, 2015, compared to net income of USD20.8 million, or USD0.59 per common share diluted, for the quarter ended October 25, 2014. On a GAAP basis, net income was USD30.8 million, or USD0.91 per common share diluted, for the quarter ended October 24, 2015.

Dycom is a leading provider of specialty contracting services throughout the United States and in Canada. These services include program management, 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.