Dycom Guides Lower
Dycom Industries
(DY)
, a provider of contracting services to telecommunications industry, said second-quarter earnings fell 48% from a year ago on higher interest expense.
The company earned $3.9 million, or 10 cents a share in the quarter, compared with $7.4 million, or 15 cents a share, a year ago. Analysts surveyed by Thomson Financial were expecting the company to earn 8 cents a share.
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Second-quarter revenue rose 8.7% from a year ago to $244.1 million. Analysts were expecting revenue of $212.5 million.
For the third quarter, the company expects to earn 13 cents to 19 cents a share, including $1.5 million of option expenses, on revenue of $230 million to $255 million. Analysts were forecasting earnings of 23 cents a share on revenue of $258.4 million.
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