In today's call, we may discuss certain adjusted financial metrics or use non-GAAP financial measures in our analysis. A reconciliation of any adjusted financial metrics or non-GAAP financial measures not reconciled in these comments to the most comparable GAAP financial measure can be found in our earnings release, our 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. These discussions will be followed by a Q&A period, and we expect the call to last for about 60 minutes. We have a lot of great things to talk about today, so I'd now like to turn the call over to Jose. Jose? Jose Ramon Mas Thank you, Marc. Good morning, and welcome to MasTec's 2012 First Quarter Call. Today, I will be reviewing our first quarter results, as well as providing my outlook for the markets we serve. First, some first quarter highlights. Revenue for the quarter was $778 million, a 26% increase over the prior year's first quarter. Net income was $14.2 million. EBITDA was $53 million and EBITDA margin was 6.9%. Earnings per share was $0.17 and cash flow from operations was $43 million. In summary, we had a strong start to the year. We performed better than expected and enjoyed broad-based revenue growth. Revenue was up $160 million compared to last year's first quarter despite having had the benefit of a $122 million of revenue associated with the Ruby pipeline in last year's first quarter. As expected, margins were negatively impacted by our work associated with a couple of pipeline jobs and a slower start on our wireless projects.
As we look at the balance of 2012, our backlog is strong and we have excellent visibility into future revenues. We expect utilization to increase and margins to improve as the year progresses. We are focused on improving margins, especially as we complete our challenging projects in the Marcellus region and as wireless spending begins to aggressively ramp up. Today, more than ever, I believe MasTec's diversified business model is our key differentiator and one that has helped drive our success.Today, we serve numerous markets and industries that we believe have solid long-term fundamentals with would significant opportunities for expansion and growth. We strongly believe that our exposure to petroleum and natural gas pipelines and facilities, high-voltage electrical transmission, wireless infrastructure construction, and construction of power generation sources should continue to be excellent sources of growth and opportunity for MasTec for years to come. Now I would like to cover some industry specifics. Our communications revenue was $374 million, an increase of 8% over last year's first quarter. Our install-to-the-home business was up 24% for the first quarter of 2012 versus2011. The increase was driven by both organic growth and our acquisition of Halsted last year. The integration of the Halsted acquisition is now complete, and there has been a dramatic improvement in both the financial and operational performance of the business. Wireless revenue was up 14% for the quarter. This now marks the fifth consecutive double-digit growth for this market. The growth is being driven by the expansion of broadband and Internet in rural markets. Our wireless business, as expected, was down 14% in the first quarter of 2012 versus 2011 as we got off to a slower restart with our largest customer in 2012. With that said, we now have excellent visibility into our full year plan and we continue to pursue a number of opportunities to expand and diversify our customer base in our wireless business. We believe that this market will afford us strong long-term growth prospects as data continues to play a larger role in wireless devices and as 4G continues to be rolled out throughout the world. Read the rest of this transcript for free on seekingalpha.com