Slide 1: 3rd Quarter Fiscal 2019 Results Conference Call
3rd Quarter Fiscal 2019 November 20, 2018 Results Conference Call
Slide 2: Forward Looking Statements, Non-GAAP Financial Measures and Other Information
Forward Looking Statements, Non-GAAP Financial Measures and Other Information This presentation contains “forward-looking statements”. Other than statements of historical facts, all statements contained in this presentation, including statements regarding the Company’s future financial position, fut
Slide 3: Participants and Agenda
Participants Steven E. Nielsen President & Chief Executive Officer Timothy R. Estes Chief Operating Officer H. Andrew DeFerrari Chief Financial Officer Richard B. Vilsoet Chief Legal Officer Agenda Introduction and Q3-19 Overview Industry Update Financial & Operational Highlights Outlook Conclusion
Slide 4: Q3-19 Overview and Highlights
Q3-19 Overview and Highlights Strong organic revenue growth of 12.9% Contract revenues of $848.2 million for the quarter ended October 27, 2018, compared to $756.2 million for the quarter ended October 28, 2017 Contract revenues of $8.8 million from a previously acquired business and $3.9 mill
Slide 5: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants deploying significant 1 gigabit wireline networks Emerging wireless technologies are driving significant wireline deployments Wireline deployments necessary to facilitate expected decades long depl
Slide 6: Revenue Highlights
Revenue Highlights Organic % adjusted for revenues from acquired businesses and storm restoration services, when applicable. Non-GAAP Organic Growth (Decline) % Q3-19 organic growth of 12.9% 30% 25% 22.9% Top 5 customers increased 18.3% 20% 14.9% 12.9% organically 15% 10% 4.6% All other custom
Slide 7: Backlog and Awards
Backlog and Awards Financial charts - $ in millions (a) (a) (a) (a) (a) Due to the change in the Company’s fiscal year end, the Company’s fiscal 2018 six month transition period consisted of Q1-18 and Q2-18. Selected Current Awards and Extensions Approximate Customers Description Area Term (in years
Slide 8: Financial Highlights
Financial Highlights Financial charts - $ in millions, except earnings per share amounts As a % of Contract Revenues 12.9% 11.6% Revenues of $848.2 million in Q3-19 increased organically 12.9% from the comparable prior period Strong growth by several large customers Storm restoration services
Slide 9: Liquidity Overview
Liquidity Overview Financial tables - $ in millions Financial profile remains strong Cash flows support scale of operations Liquidity Summary As of Cash Flow Summary Quarter Ended July 28, 2018 October 27, 2018 October 28, 2017 October 27, 2018 Cash and equivalents $ 23.9 $ 21.5 Cash provided by (us
Slide 10: Outlook for Quarter Ending January 26, 2019 (Q4-2019)
Outlook for Quarter Ending January 26, 2019 (Q4-2019) Financial tables - $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective income tax rate) Q4-19 Outlook Other Expectations Outlook – Outlook – Quarter Ended Quarter Ending Quarter End
Slide 11: Outlook for Fiscal Year Ending January 26, 2019 (Fiscal 2019)
Outlook for Fiscal Year Ending January 26, 2019 (Fiscal 2019) Financial tables - $ in millions, except earnings per share amounts (% as a percent of contract revenues, except as noted for Effective income tax rate) Fiscal 2019 Outlook Other Expectations Trailing 4 Trailing 4 Outlook Outlook Quarters
Slide 12: Conclusion
Conclusion Firm and strengthening end market opportunities Fiber deployments in contemplation of emerging wireless technologies have begun in many regions of the country Wireless construction activity in support of expanded coverage and capacity is poised to accelerate Telephone companies are
Slide 13: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Explanation of Non-GAAP Measures The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). In the Company’s quarterly results releases, trend schedules, conference calls, slide presentations, and webcasts, it
Slide 14: Non-GAAP Organic Contract Revenues
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenues Unaudited ($ in millions) NON-GAAP ADJUSTMENTS Revenue Growth (Decline)% Revenues from Additional week Non-GAAP - Contract Revenues from storm as a
Slide 15: Non-GAAP Organic Contract Revenues – Certain Customers
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenues – Certain Customers Unaudited ($ in millions) All customers Top 5 (excluding Total Contract Customers Top 5 Revenues combined (a) Customers) Comcas
Slide 16: Non-GAAP Adjusted EBITDA
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted EBITDA Unaudited ($ in thousands) Quarter Ended October 27, 2018 October 28, 2017 Q3-19 Q1-18 Reconciliation of net income to Non-GAAP Adjusted EBITDA: Net income $
Slide 17: Non-GAAP Adjusted Net Income and Diluted EPS
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Diluted Earnings Per Share Unaudited ($ in thousands, except per share amounts) Quarter Ended October 27, 2018 October 28, 2017 Q3-
Slide 18: Non-GAAP Adjusted EBITDA (Trailing Quarters)
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted EBITDA Unaudited ($ in thousands) Trailing 4 Quarter Ended Quarters Ended January 27, 2018 October 28, 2017 July 29, 2017 April 29, 2017 January 27, 2018 Q2-18 Q1-1
Slide 19: Non-GAAP Adjusted Net Income and Diluted EPS (Trailing Quarters)
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Diluted Earnings Per Share Unaudited ($ in thousands, except per share amounts) Quarter Ended Trailing 4 Quarters January 27, 2018
Slide 20: Outlook – Non-GAAP Diluted Earnings per Common Share
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Outlook – Non-GAAP Diluted Earnings per Common Share Unaudited Quarter Ending (a) (a) January 26, 2019 Fiscal 2019 (b) GAAP Diluted Earnings (Loss) per common share $(0.09) - $0.13 $
Slide 21: Net Income to Adjusted EBITDA at Midpoint of EPS Guidance
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Reconciliation of Net Income to Non-GAAP Adjusted EBITDA based on the Midpoint of Earnings per Common Share ("EPS") Guidance Unaudited ($ in millions) Quarter Ending January 26, 2019
Slide 22: 3rd Quarter Fiscal 2019 Results Conference Call
3rd Quarter Fiscal 2019 November 20, 2018 Results Conference Call