Slide 1: 1st Quarter Fiscal 2017 Results Conference Call
1st Quarter Fiscal 2017 Results Conference Call November 22, 2016
Slide 2: Forward Looking Statements and Non-GAAP Information
Forward Looking Statements and Non-GAAP 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, future revenue, prospects, pl
Slide 3: Participants and Agenda
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 General Counsel Agenda Introduction and Q1-17 Overview Industry Update Financial & Operational Highlights
Slide 4: Q1-17 Overview and Highlights
Q1-17 Overview and Highlights Financial charts - $ in millions, except earnings per share amounts Strong demand and revenue growth Contract revenues of $799.2 million in Q1-17 compared to $659.3 million in Q1-16 Organic growth of 18.0% excluding contract revenues of acquired businesses not inc
Slide 5: Industry Update
Industry Update Industry increasing network bandwidth dramatically Major industry participants deploying significant wireline networks Newly deployed networks provisioning 1 gigabit speeds; multi-gigabit speeds planned by some industry participants Industry developments have produced opportu
Slide 6: Revenue Highlights
Revenue Highlights Q1-17 organic growth of 18.0%, eighth straight quarter with double digit organic growth Revenues from Q1-17 Top 5 customers increased 39.5% organically. All other customers decreased 18.0% organically * Top 5 customers in each period *Q4-16 organic % growth adjusted for addi
Slide 7: Backlog and Awards
Backlog and Awards Financial charts - $ in millions The sequential decline in total backlog at the end of Q1-17 is the result of $211 million in reduced backlog from lower revenue expectations from a business acquired in July 2016 and $413 million in reduced backlog for one project as a customer mod
Slide 8: Financial Highlights
Financial Highlights Financial charts - $ in millions, except earnings per share amounts As a % of Revenues 16.0% 16.2% Revenues of $799.2 million and organic growth of 18.0%. Revenues from acquired businesses contributed $56.6 million in Q1-17 and $29.9 million in Q1-16 Non-GAAP Adjusted EBITDA
Slide 9: Liquidity Overview
Liquidity Overview Financial tables - $ in millions Strong balance sheet and liquidity Operating cash activity support growth Liquidity Summary Cash Flow Summary Q4-16 Q1-17 Q1-16 Q1-17 Cash and equivalents $ 33.8 $ 21.7 Cash used in operating activities $ (28.9) $ (41.6) Senior Credit Facility, mat
Slide 10: Q2-2017 Outlook
Q2-2017 Outlook Financial table- $ in millions, except earnings per share amounts (% as a percent of contract revenues) Q2-2016 Included for Q2-2017 Outlook and Commentary comparison Contract Revenues $ 559.5 $640 - $670 Expectations of normal winter weather Broad range of demand from several la
Slide 11: Looking Ahead to Q3-2017
Looking Ahead to Q3-2017 Financial table- $ in millions (% as a percent of contract revenues) Q3-2016 Included for comparison Q3-2017 Outlook and Commentary Contract Revenues $ 664.6 Total revenue growth % Expectation of normal winter weather of mid to high single Broad range of demand from seve
Slide 12: Conclusion
Conclusion Firm and strengthening end market opportunities Telephone companies deploying FTTX to enable video offerings and 1 gigabit connections Cable operators continuing to deploy fiber to small and medium businesses with overall cable capital expenditures, new build opportunities, and capaci
Slide 13: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenue Unaudited ($ in millions) Use of Non-GAAP Financial Measures The Company reports its financial results in accordance with U.S. generally accepted ac
Slide 14: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted EBITDA Unaudited ($ in 000's) Notes: Amounts above may not add due to rounding. Use of Non-GAAP Financial Measures The Company reports its financial results in acco
Slide 15: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Organic Contract Revenue – certain customers Unaudited ($ in millions) All customers Total Top 5 (excluding Contract Customers Top 5 Revenue combined* Customers) AT&T Centur
Slide 16: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Earnings Per Share Unaudited ($ in 000's, except per share amounts) Q1-17 Q1-16 Three Months Ended Three Months Ended October 29, 2
Slide 17: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Non-GAAP Adjusted Net Income and Non-GAAP Adjusted Earnings Per Share Unaudited ($ in 000's, except per share amounts) For comparison purposes for slides 10 and 11 Q2-16 Q3-16 Three
Slide 18: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of Non-GAAP Financial Measures to Comparable GAAP Financial Measures Outlook – Diluted Earnings per Common Share Unaudited Outlook for the Three Months Ending January 28, 2017(a) Diluted earnings per common share $0.53 - $ 0.65 Adjustment After-tax no
Slide 19: 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 20: 1st Quarter Fiscal 2017 Results Conference Call
1st Quarter Fiscal 2017 Results Conference Call November 22, 2016