Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q3 FY2009 Earnings Presentation
12 slides from Dycom Industries's earnings presentation, May 20, 2009
Slide 1: 3rd Quarter Fiscal 2009 Results Presentation
3rd Quarter Fiscal 2009 Results Presentation May 20, 2009 (r)
Slide 2: Participants
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
Slide 3: Forward-Looking Statements and Non-GAAP Information
Forward-Looking Statements and Non- GAAP Information This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "estimate," "intend," "forecast," "may," "should", "could", "project," "
Slide 4: Q3-2009 Overview
Q3-2009 Overview Results of $0.13 per share, non-GAAP Revenue of $257.7 million in Q3-09 increased sequentially by 5.0% but declined year over year by 12.2% Customer reductions in near-term capital spending plans prompted by current economic conditions Margins improved year over year Operating cash
Slide 5: Revenue by Customer
Revenue by Customer Top 5 customers represented 61.2% of revenue in Q3-09 and 64.6% of revenue in Q3-08 Overall revenue decline was 12.2%, with top 5 customers down approximately 16.7% and all other customers down approximately 3.8% Revenue from Windstream, our sixth largest customer, was up over 10
Slide 6: Q3-2009 Backlog and Employees
Q3-2009 Backlog and Employees Current Contract Awards and Extensions Customer Area Description Term (in years) AT&T Florida and Georgia Master Construction Contract - Extensions 1 Embarq New Jersey Master Construction Contract 1 Qwest Southern Utah Master Construction Contract - Extension 3 Comcast
Slide 7: Q3-2009 Summary
Q3-2009 Summary Note: See "Regulation G Disclosure" slide for a reconciliation of non-GAAP financial measures. Year over year revenue decline of 12.2% reflects customer reductions in near-term capital spending plans prompted by current economic conditions (12.2)% (9.7)% Contract Revenues ($ in milli
Slide 8: Selected Financial Information
Selected Financial Information Year-over-year revenue decline. Cost of earned revenues on a Non-GAAP basis declined as a percentage of revenue due to lower fuel prices and safety and claims costs. This decline was partially offset by increased costs for labor and direct material as a percentage of r
Slide 9: Cash Flow and Liquidity
Cash Flow and Liquidity Cash flow from operations strong at $20.9 million for Q3-09 Combined days sales outstanding on trade receivables and net unbilled revenues were 61 days in Q3-09 and 64 days in Q2-09 (a) Capital expenditures, net of disposals declined sequentially to $4.8 million Repurchased $
Slide 10: Summary
Summary Challenging economic environment Solid customer relationships At the forefront of evolving industry opportunities including those resulting from industry mergers and acquisitions Growing market share as customers consolidate vendors Encouraged by deployment of new technologies by cable opera
Slide 11: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Reconciliation of GAAP to Non-GAAP Measures Amounts may not foot due to rounding ($ in 000's, except per share amounts) GAAP Reconciling Items Non-GAAP GAAP Reconciling Items Non-GAAP Contract revenues 257,719 $ - - $ 257,719 $ 293,440 $ - - $ 293,440 $ Cost of earn
Slide 12: 3rd Quarter Fiscal 2009 Results Presentation
3rd Quarter Fiscal 2009 Results Presentation May 20, 2009 (r)