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Dycom Industries Fiscal 4th Qtr Profit Jumps

PALM BEACH GARDENS, Fla. (AP) ¿ Telecommunications contractor Dycom Industries Inc. said Tuesday its fiscal fourth-quarter profit more than doubled from a year-ago period hurt by an impairment charge and losses from now-discontinued operations.

For the three months ended July 25, the company earned $6.6 million, or 17 cents per share, compared with $3.1 million, or 8 cents per share, in the year-earlier period. Excluding one-time charges, the company earned 23 cents per share in the latest period.

Contract revenue in the 2009 fiscal fourth quarter declined to $269.7 million from $322.1 million.

Analysts polled by Thomson Reuters had expected, on average, earnings per share of just 15 cents on slightly higher sales of $273.9 million.

For the full year, Dycom reported a loss of $53.2 million, or $1.35 per share, on revenue of $1.11 billion, compared with a profit in the previous year of $21.7 million, or 54 cents per share, on revenue of $1.23 billion.

Shares closed earlier up 2 cents at $14.18.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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