About MYR Group Inc.
MYR Group Inc. (MYR) is a holding company of specialty construction service providers. Through subsidiaries dating back to 1891, MYR is one of the largest national contractors servicing the transmission and distribution sector of the United States electric utility industry. Transmission and Distribution customers include electric utilities, cooperatives and municipalities. The Company also provides commercial and industrial electrical contracting services to facility owners and general contractors in the Western United States. MYR Group's comprehensive services include turn-key construction and maintenance services for the nation's electrical infrastructure.
Various statements in this announcement, including those that express a belief, expectation, or intention, as well as those that are not statements of historical fact, are forward-looking statements. The forward-looking statements may include projections and estimates concerning the timing and success of The One Nevada Transmission Line project, MYR's ability to complete the project in a timely manner and the impact of MYR's work on the project. Our forward-looking statements are generally accompanied by words such as ''estimate,'' ''project,'' ''predict,'' ''believe,'' ''expect,'' ''anticipate,'' ''potential,'' ''plan,'' ''goal'' or other words that convey the uncertainty of future events or outcomes. Management has based these forward-looking statements on our current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, contingencies and uncertainties include, but are not limited to, significant variations in operating results from year to year, the competitive and cyclical nature of the industry, the company's ability to realize and profit from backlog, the implementation of the Energy Policy Act of 2005 by customers, the company's ability to obtain new contracts and/or replace completed or cancelled contracts, the company's ability to obtain adequate bonding for projects, the company's ability to hire and retain key personnel and subcontractors, limitations on the company's ability to hire or retain key personnel, work stoppages or other labor issues, and economic instability. A further list and description of risks, uncertainties and other matters can be found in MYR's Annual Report on Form 10-K for the fiscal year ended December 31, 2009. We do not undertake to update our forward-looking statements.
CONTACT: Dresner Corporate Services