expects to meet or exceed guidance for the year 2000,
updating an outlook from Dec. 19.
In 1999, Quanta reported revenue of nearly $926 million. The company, which is based in Houston, said 2000's internal revenue growth would be 26% to 28%, with earnings of $1.67 to $1.69 a share. Analysts surveyed by
First Call/Thomson Financial
have estimated earnings of $1.68 a share for 2000.
Quanta, a provider of contracting services for the telecom and electric power industries, will report its earnings for the fourth quarter and full year on Feb. 22. The company also forecast earnings of $2.14 to $2.18 a share for 2001, with revenue projected to grow 15% to 20%. Wall Street expects the company to earn $2.15 in 2001.
The news didn't impress Quanta's investors. The stock dipped on the
New York Stock Exchange
, losing $2.25, or 6.4%, to $32.94.