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MasTec Management Discusses Q2 2012 Results - Earnings Call Transcript

Various risks, uncertainties and assumptions are detailed in our press releases and filings with the SEC. Should one or more of these risks or uncertainties materialize or should any of our underlying assumptions prove incorrect, actual results may differ significantly from results expressed or implied in these communications.

In today's call, we may discuss certain adjusted financial metrics or use non-GAAP financial measures in our analyses. A reconciliation of any adjusted financial metrics or non-GAAP financial measures not reconciled in these comments to the most comparable GAAP financial measures can be found in our earnings release, SEC filings or on the Investor Relations section of our website located at mastec.com.

With us today, we have Jose Mas, our Chief Executive Officer; and Bob Campbell, our Executive Vice President and Chief Financial Officer. The format of the call will be opening remarks and analysis by Jose, followed by a financial review from Bob. The discussions will be followed by a Q&A period, and we expect the call to last about 60 minutes.

We have a lot of great things to talk about today. So I'd like to now turn the call over to Jose.

Jose Ramon Mas

Thank you, Marc. Good morning, and welcome to MasTec's 2012 Second Quarter Call. Today, I will be reviewing our second quarter results, as well as providing my outlook for the markets we serve.

Before we get started, I'd like to point out that during the second quarter, we finalized the sale of DirectStar, our DIRECTV retail sales business. DirectStar's results have now been classified as discontinued operations, and its revenues has been eliminated from our financial statements. Thus, my comments, as it relate to revenue, exclude revenues generated by DirectStar in both 2011 and 2012.

Now some first quarter -- some second quarter highlights. Revenue for the quarter was $992 million, a 38% increase over the prior year's second quarter. EBITDA was $81 million, an increase of 14% over last year. Earnings per share was $0.37, an increase of 19% over last year's adjusted earnings per share, and organic revenue growth was 32%.

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