Dycom Industries, Inc. · NYSE:DY
Dycom Industries — Q1 FY2009 Earnings Presentation
14 slides from Dycom Industries's earnings presentation, Nov 26, 2008
Slide 1: 1st Quarter Fiscal 2009 Results Presentation
1st Quarter Fiscal 2009 Results Presentation November 25, 2008 (r)
Slide 2: Participants
Participants Steven E. Nielsen President & Chief Executive Officer Tim 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: Q1 2009 Overview
Q1 2009 Overview Results of $0.28 per share, non-GAAP, were above the top end of our EPS expectations Revenue up 3.7% sequentially from the 4th quarter of fiscal 2008 Year over year revenue growth of 1.3%, including approximately $15.0 million in Q1 09 for restoration work related to hurricane damag
Slide 5: Revenue by Customer
Q1 2009 Telecommunications 0.788 Utility Line Locating 0.154 Electric Utilities and Other Customers 0.058 Revenue by Customer Top 5 customers representing 64.6% in Q1 2009 and 63.7% in Q1 2008 Overall revenue growth was 1.3%, with top 5 customers up approximately 2.8% and all other customers decline
Slide 6: Q1 2009 Backlog and Employees
Q1 2009 Backlog and Employees Current Contract Awards and Extensions Customer Area Description AT&T Orangeburg, SC 3 Year Extension - Master Construction Contract AT&T Upstate SC 3 Year Extension - Underground Facility Locating Comcast Sacramento, CA System Upgrade - Bandwidth Expansion Comcast Illi
Slide 7: Q1 2009 Summary
Q1 2009 Summary Note: See "Regulation G Disclosure" slide for a reconciliation of non-GAAP financial measures. Modest year-over-year revenue growth at 1.3%, including approximately $15.0 million in Q1 09 for restoration services related to hurricane damage
Slide 8: Selected Financial Information
Selected Financial Information Modest year-over-year revenue growth including restoration work for hurricane damage Increase in cost of earned revenues reflects higher labor costs in relation to current operating levels and increased fuel costs Increase in G&A driven by higher professional fees rela
Slide 9: Financial Position
Financial Position New $195 million three year Senior Credit Agreement entered into during Q1 2009 to replace previous credit agreement Total debt, less cash balances, was up to $137.0 million as of October 25, 2008 compared to $131.3 million at July 26, 2008 In compliance with covenants of debt agr
Slide 10: Cash Flow and Capital Expenditures, net
Cash Flow and Capital Expenditures, net Cash flow from operations of $4.1 million for Q1 2009 including the payment of $8.6 million for a prior legal settlement Capital expenditures, net of disposals were $8.0 million Combined days sales outstanding on trade receivables and net unbilled revenues was
Slide 11: Summary
Summary Challenging economic environment Solid customer relationships At the forefront of evolving industry opportunities Major participant in the rewiring of the nation's telecommunications infrastructure Encouraged by deployment of new technologies by cable operators Strong cash flows support work
Slide 12: Outlook - Q2 2009
Outlook - Q2 2009 Outlook anticipates: U.S. economy in recession Seasonally normal weather G&A expenses, excluding non-cash compensation, lower on a sequential basis versus Q1 2009 reflecting cost reduction initiatives Consistent levels of depreciation and amortization during Q2 2009 versus Q1 2009
Slide 13: Appendix: Regulation G Disclosure
Appendix: Regulation G Disclosure
Slide 14: Regulation G Disclosure
1st Quarter Fiscal 2009 Results Presentation November 25, 2008 (r)