NEW YORK (AP) ¿ Moody's Investors Service lowered its rating outlook for Dycom Industries Inc. to "Negative" from "Stable" on Thursday, citing weak demand from cable and telecommunications customers.

The Palm Beach, Fla. telecom contractor still has a non-investment grade "Ba2" rating on about $146 million in debt.

Last month, Dycom posted a loss of $78.3 million, or $1.99 per share, for its fiscal second quarter, compared with a loss of $3.2 million, or 8 cents per share, a year earlier. Excluding a $96.8 million impairment charge and other one-time items, the loss came to 4 cents per share.

Sales fell to $245.5 million from $284.7 million.

"The negative outlook reflects potential for low earnings through 2010 as the weak economy softens demand," Moody's said in a statement Thursday.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Technology

EU Apple Users Can Now Download All the Info It Has on Them

EU Apple Users Can Now Download All the Info It Has on Them

Did Trump Just Torpedo the Stock Market Again?

Did Trump Just Torpedo the Stock Market Again?

Venture Capital Funding Surges 49% as Tech Innovation Piques Investor Interest

Venture Capital Funding Surges 49% as Tech Innovation Piques Investor Interest

10 Questions for PayPal Ahead of Its Big Investor Day

10 Questions for PayPal Ahead of Its Big Investor Day

How the Public Really Feels About Autonomous Driving Right Now

How the Public Really Feels About Autonomous Driving Right Now