Slide 1: 1st Quarter Fiscal 2010 Results Presentation
1st Quarter Fiscal 2010 Results Presentation November 24, 2009
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, including statements with respect to the Company's fiscal 2010 second quarter results. The words "believe," "expect,"
Slide 4: Q1-2010 Overview
Q1-2010 Overview Non-GAAP results of $0.15 per share Revenue of $259.1 million in Q1-10 declined sequentially by 3.9%; Year over year decline was 22.4% Margins improved year over year on a Non-GAAP basis Strong operating cash flows during the quarter Note: See "Regulation G Disclosure" slide for a r
Slide 5: Revenue by Customer
Revenue by Customer Top 5 customers represented 65.5% of revenue in Q1-10 and 64.9% of revenue in Q1-09 Overall revenue decline was 22.4%, with top 5 customers down approximately 21.6% and all other customers down approximately 23.9%. Q1-09 included $15.0 million in storm work. Telecommunications Un
Slide 6: Backlog and Employees
Backlog and Employees Current Contract Awards and Extensions Customer Area Description Term (in years) AT&T Kentucky Master Service Agreement 1 CenturyLink North Carolina, South Carolina, Virginia, Tennessee, Pennsylvania, New Jersey, Ohio Master Service Agreements 2+ Qwest Oregon, Washington Master
Slide 7: Summary Results
Summary Results Contract Revenues ($ in millions) $340.0 $334.0 (22.4)% $300.0 $259.1 $260.0 $220.0 $180.0 Q1 2009 Q1 2010 Income from Continuing Operations -Non-GAAP ($ in millions) $14.0 $12.0 $10.9 $10.0 $8.0 $6.0 $5.8 $4.0 $2.0 $0.0 Q1 2009 Q1 2010 Note: See "Regulation G Disclosure" slide for a
Slide 8: Selected Financial Information
Selected Financial Information Q1-10 Q1-09 Change (b) ($ in millions) Contract Revenues $ 259.1 $ 334.0 $ (74.9) (22.4)% Cost of Earned Revenues - Non-GAAP (a) $ 208.0 $ 268.6 $ (60.6) 80.3% 80.4% (0.2)% General & Administrative $ 23.5 $ 27.5 $ (4.0) 9.1% 8.2% 0.8 % Depreciation & Amortization $ 15.
Slide 9: Cash Flow and Liquidity
Cash Flow and Liquidity Cash Flows from Operating Activities and Cap-ex, net ($ in millions) $80 $71.1 $60 $40 $30.5 $24.6 $20 $20.9 $4.1$8.0 $8.4 $8.3 $4.8 $4.0 $0 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Cash flow from operating activities Capital Expenditures, net of disposals October 24, 2009 ($ in million
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 ($ in 000's, except per share amounts) Three Months Ended October 24, 2009 Three Months Ended October 25, 2008 Reconciling Reconciling GAAP Items Non-GAAP GAAP Items Non-GAAP Contract revenues $ 259,116 $ - $ 259,116 $ 333
Slide 12: 1st Quarter Fiscal 2010 Results Presentation
1st Quarter Fiscal 2010 Results Presentation November 24, 2009