Slide 1: 3rd Quarter Presentation
3 rd Quarter Presentation May 26, 2010
Slide 2: Participants
Steven E. Nielsen President & Chief Executive Officer H. Andrew DeFerrari Chief Financial Officer Richard B. Vilsoet General Counsel Participants
Slide 3: Forward-Looking Statements and Non-GAAP Information
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 f
Slide 4: Q3-2010 Overview
Q3-2010 Overview n Contract revenue of $231.6 million in Q3-10 increased 7.1% sequentially from Q2-10 n Revenue trends improving in later half of the quarter n Non-GAAP Q3-10 results of $0.02 per share n Strong liquidity at April 24, 2010 n $4.5 million in share repurchases Note: See “Regulation G D
Slide 5: Revenue Summary
Revenue Summary n Top 5 customers represented 64.8% of revenue in Q3-10 and 61.7% of revenue in Q3-09 n Revenue decline in Top 5 customers 5.6% and decline at all other customers 17.3% n Organic revenue trend improving in total n Excluding Verizon, other customers in the Top 5 combined grew organica
Slide 6: Backlog and Employees: Current Contract Awards and Extensions
Customers Area Description Approximate Term (in years) n AT&T Georgia South Carolina Construction services 3 n Comcast Illinois Installation services 3 n Verizon Northeast, Mid Atlantic Engineering services 3 n Charter Tennessee Construction and maintenance services 2 n Various Kentucky, Kansas, Col
Slide 7: Summary Results
Summary Results Note: See “Regulation G Disclosure” slide 10 for a reconciliation of GAAP to Non-GAAP financial measures.
Slide 8: Selected Financial Information
Selected Financial Information n Year-over-year organic revenue decline of 8.0% (excluding $5.9 million of revenue in Q3-09 for storm restoration services) n Cost of earned revenues as a percentage of revenue impacted by difficult weather conditions and higher prices of gasoline n G&A unchanged year
Slide 9: Cash Flow and Liquidity
Cash Flow and Liquidity n Cash flows used to fund operations as activity level increased during the quarter n Combined days sales outstanding on trade receivables and net unbilled revenues were 61 days in each of Q3- 10 and Q3-09 (a) n Capital expenditures, net of disposals at $6.9 million n Strong
Slide 10: Summary
Summary n Economic environment showing signs of improvement n Solid customer relationships n Market share growing as customers consolidate vendors n At the forefront of evolving industry opportunities including those resulting from industry mergers and acquisitions n Encouraged by deployment of new
Slide 11: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure
Slide 12: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure
Slide 13: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure Amounts may not foot due to rounding. (a) Year-over-year growth (decline) percentage is calculated as follows: (i) revenues in the quarterly period less (ii) revenues in the comparative prior year quarterly period; divided by (ii) revenues in the comparative prior y
Slide 14: 3rd Quarter Presentation
3 rd Quarter Presentation May 26, 2010