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%.
In summary, we had another good quarter. Performance was very strong across all of our businesses, with the exception of the 2 challenging Marcellus projects, which we previously discussed. We are near completion on both of those projects and expect to be fully complete early in the third quarter. However, the effort to complete those projects has been more difficult and costly than we expected.During the second quarter, we recorded a provision for losses of over $25 million related to these 2 projects. The projects have been a drain on both profits and resources, and we look forward to getting them behind us. Aside from those 2 projects, performance and execution throughout our business, including the rest of our pipeline business, has been excellent and ahead of our expectations. I'll discuss that in more detail in a minute. Again, revenues for the quarter were up $275 million or 38% year-over-year, and up approximately $250 million or 33% sequentially from the first quarter. We are now expecting 2012 full year revenue growth of between 24% to 26%, and this comes off of 32% growth between 2010 and 2011. We continue to enjoy strong demand for our services, resulting in strong revenue growth. We also saw broad-based margin improvements, with the exception of the 2 Marcellus projects I spoke about. Margins and margin improvement is our key area of focus, and we expect improvements in the second half of this year. 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 feel have solid long-term fundamentals with 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 the construction of power generation sources should continue to be excellent sources of growth and opportunity for MasTec for years to come. Read the rest of this transcript for free on seekingalpha.com