Dycom Industries Posts Sharp Drop In 1Q Profit
PALM BEACH GARDENS, Fla. (AP) ¿ Telecommunications contractor Dycom Industries Inc. said its fiscal first quarter profit fell two-thirds and it expects a loss in the second quarter.
The Palm Beach Gardens, Fla., company said late Monday it earned $3.5 million, or 9 cents per share, compared with $10.5 million, or 27 cents per share in the same quarter last year.
Revenue of $248.7 million for the quarter ended Oct. 24 was down 21 percent from $312.8 million in the year-ago period.
Excluding $2 million for a charge related to a wage and hour class action settlement and about $1 million for a valuation allowance on a deferred tax asset, earnings would have been $5.8 million, or 15 cents per share.
Analysts surveyed by Thomson Reuters expected Dycom Industries to earn 17 cents per share on revenue of $269.3 million. Analysts typically exclude one-time charges and gains. Dycom Industries said it expects a modest loss per share in the second quarter and revenue to be down due to seasonal patterns and slowing capital spending by an unspecified customer. Shares rose 11 cents to $8.72 in morning trading.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
