DYCOM INDUSTRIES, INC. (NYSE:DY) Files An 8-K Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition.
On March 1, 2017, Dycom Industries, Inc. (the Company) held a
webcast and conference call to review its fiscal 2017 second
quarter>results and provide forward guidance. A copy of the
transcript is furnished as Exhibit 99.1 to this Current Report on
Form 8-K and is incorporated herein by reference.
webcast and conference call to review its fiscal 2017 second
quarter>results and provide forward guidance. A copy of the
transcript is furnished as Exhibit 99.1 to this Current Report on
Form 8-K and is incorporated herein by reference.
The transcript contains the financial measures of Non-GAAP
Adjusted EBITDA, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted
Diluted Earnings per Common Share, and certain amounts relating
to organic contract revenue, which are Non-GAAP financial
measures within the meaning of Regulation G promulgated by the
Securities and Exchange Commission. Non-GAAP Adjusted EBITDA,
defined by the Company as earnings before interest, taxes,
depreciation and amortization, gain on sale of fixed assets,
stock-based compensation expense, loss on debt extinguishment,
and certain non-recurring items, is not a recognized term under
generally accepted accounting principles (GAAP) and does not
purport to be an alternative to net income, operating cash flows,
or a measure of earnings. Non-GAAP Adjusted Net Income is not a
recognized term under GAAP and does not purport to be an
alternative to GAAP net income. Non-GAAP Adjusted Diluted
Earnings per Common Share is not a recognized term under GAAP and
does not purport to be an alternative to GAAP diluted earnings
per common share. Organic contract revenue is not a recognized
term under GAAP and does not purport to be an alternative to GAAP
contract revenue. Because all companies do not use identical
calculations, the presentation of these Non-GAAP financial
measures may not be comparable to other similarly titled measures
of other companies. The Company believes these Non-GAAP financial
measures provide information that is useful to investors because
it allows for a more direct comparison of the Companys
performance for the period reported with the Companys performance
in prior periods. A reconciliation of these Non-GAAP financial
measures to the most directly comparable GAAP measures is
provided in the conference call materials referred to on the
webcast and conference call, a copy of which has been furnished
as Exhibit 99.1 to the Companys Form 8-K previously filed with
the Securities and Exchange Commission on March 1, 2017.
Adjusted EBITDA, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted
Diluted Earnings per Common Share, and certain amounts relating
to organic contract revenue, which are Non-GAAP financial
measures within the meaning of Regulation G promulgated by the
Securities and Exchange Commission. Non-GAAP Adjusted EBITDA,
defined by the Company as earnings before interest, taxes,
depreciation and amortization, gain on sale of fixed assets,
stock-based compensation expense, loss on debt extinguishment,
and certain non-recurring items, is not a recognized term under
generally accepted accounting principles (GAAP) and does not
purport to be an alternative to net income, operating cash flows,
or a measure of earnings. Non-GAAP Adjusted Net Income is not a
recognized term under GAAP and does not purport to be an
alternative to GAAP net income. Non-GAAP Adjusted Diluted
Earnings per Common Share is not a recognized term under GAAP and
does not purport to be an alternative to GAAP diluted earnings
per common share. Organic contract revenue is not a recognized
term under GAAP and does not purport to be an alternative to GAAP
contract revenue. Because all companies do not use identical
calculations, the presentation of these Non-GAAP financial
measures may not be comparable to other similarly titled measures
of other companies. The Company believes these Non-GAAP financial
measures provide information that is useful to investors because
it allows for a more direct comparison of the Companys
performance for the period reported with the Companys performance
in prior periods. A reconciliation of these Non-GAAP financial
measures to the most directly comparable GAAP measures is
provided in the conference call materials referred to on the
webcast and conference call, a copy of which has been furnished
as Exhibit 99.1 to the Companys Form 8-K previously filed with
the Securities and Exchange Commission on March 1, 2017.
The information in the preceding paragraphs, as well as Exhibits
99.1, shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934 (the Exchange Act), or otherwise
subject to the liabilities of that section. It may only be
incorporated by reference into another filing under the Exchange
Act or the Securities Act of 1933 (the Securities Act) if such
subsequent filing specifically references this Current Report on
Form 8-K.
99.1, shall not be deemed filed for purposes of Section 18 of the
Securities Exchange Act of 1934 (the Exchange Act), or otherwise
subject to the liabilities of that section. It may only be
incorporated by reference into another filing under the Exchange
Act or the Securities Act of 1933 (the Securities Act) if such
subsequent filing specifically references this Current Report on
Form 8-K.
Item 7.01 Regulation FD Disclosure.
On March 1, 2017, the Company held a webcast and conference call
to review its fiscal 2017 second quarter>results and provide
forward guidance. A copy of the transcript is furnished as
Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
to review its fiscal 2017 second quarter>results and provide
forward guidance. A copy of the transcript is furnished as
Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated herein by reference.
The transcript contains the financial measures of Non-GAAP
Adjusted EBITDA, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted
Diluted Earnings per Common Share, and certain amounts relating
to organic contract revenue, which are Non-GAAP financial
measures within the meaning of Regulation G promulgated by the
Securities and Exchange Commission. Non-GAAP Adjusted EBITDA,
defined by the Company as earnings before interest, taxes,
depreciation and amortization, gain on sale of fixed assets,
stock-based compensation expense, loss on debt extinguishment,
and certain non-recurring items, is not a recognized term under
GAAP and does not purport to be an alternative to net income,
operating cash flows, or a measure of earnings. Non-GAAP Adjusted
Net Income is not a recognized term under GAAP and does not
purport to be an alternative to GAAP net income. Non-GAAP
Adjusted Diluted Earnings per Common Share is not a recognized
term under GAAP and does not purport to be an alternative to GAAP
diluted earnings per common share. Organic contract revenue is
not a recognized term under GAAP and does not purport to be an
alternative to GAAP contract revenue. Because all companies do
not use identical calculations, the presentation of these
Non-GAAP financial measures may not be comparable to other
similarly titled measures of other companies. The Company
believes these Non-GAAP financial measures provide information
that is useful to investors because it allows for a more direct
comparison of the Companys performance for the period reported
with the Companys performance in prior periods. A reconciliation
of these Non-GAAP financial measures to the most directly
comparable GAAP measures is provided in the conference call
materials referred to on the webcast and conference call, a copy
of which has been furnished as Exhibit 99.1 to the Companys Form
8-K previously filed with the Securities and Exchange Commission
on March 1, 2017.
Adjusted EBITDA, Non-GAAP Adjusted Net Income, Non-GAAP Adjusted
Diluted Earnings per Common Share, and certain amounts relating
to organic contract revenue, which are Non-GAAP financial
measures within the meaning of Regulation G promulgated by the
Securities and Exchange Commission. Non-GAAP Adjusted EBITDA,
defined by the Company as earnings before interest, taxes,
depreciation and amortization, gain on sale of fixed assets,
stock-based compensation expense, loss on debt extinguishment,
and certain non-recurring items, is not a recognized term under
GAAP and does not purport to be an alternative to net income,
operating cash flows, or a measure of earnings. Non-GAAP Adjusted
Net Income is not a recognized term under GAAP and does not
purport to be an alternative to GAAP net income. Non-GAAP
Adjusted Diluted Earnings per Common Share is not a recognized
term under GAAP and does not purport to be an alternative to GAAP
diluted earnings per common share. Organic contract revenue is
not a recognized term under GAAP and does not purport to be an
alternative to GAAP contract revenue. Because all companies do
not use identical calculations, the presentation of these
Non-GAAP financial measures may not be comparable to other
similarly titled measures of other companies. The Company
believes these Non-GAAP financial measures provide information
that is useful to investors because it allows for a more direct
comparison of the Companys performance for the period reported
with the Companys performance in prior periods. A reconciliation
of these Non-GAAP financial measures to the most directly
comparable GAAP measures is provided in the conference call
materials referred to on the webcast and conference call, a copy
of which has been furnished as Exhibit 99.1 to the Companys Form
8-K previously filed with the Securities and Exchange Commission
on March 1, 2017.
The information in the preceding paragraphs, as well as Exhibits
99.1, shall not be deemed filed for purposes of Section 18 of the
Exchange Act, or otherwise subject to the liabilities of that
section. It may only be incorporated by reference into another
filing under the Exchange Act or the Securities Act if such
subsequent filing specifically references this Current Report on
Form 8-K.
99.1, shall not be deemed filed for purposes of Section 18 of the
Exchange Act, or otherwise subject to the liabilities of that
section. It may only be incorporated by reference into another
filing under the Exchange Act or the Securities Act if such
subsequent filing specifically references this Current Report on
Form 8-K.
Forward Looking Statements
This Current Report on Form 8-K contains forward-looking
statements as contemplated by the 1995 Private Securities
Litigation Reform Act, including statements regarding the outlook
for the Company. These statements are based on managements
current expectations, estimates and projections. Forward-looking
statements are subject to risks and uncertainties that may cause
actual results in the future to differ materially from the
results projected or implied in any forward-looking statements
contained in this Current Report on Form 8-K. The most
significant of these risks and uncertainties are described in the
Companys Form 10-K, Form 10-Q and Form 8-K reports (including all
amendments to those reports) and include business and economic
conditions and trends in the telecommunications industry
affecting the Companys customers, the adequacy of the Companys
insurance and other reserves and allowances for doubtful
accounts, whether the carrying value of the Companys assets may
be impaired, preliminary purchase price allocations of acquired
businesses, expected benefits and synergies of acquisitions,
future financial and operating results, the future impact of any
acquisitions or dispositions, adjustments and cancellations
related to the Companys backlog, the anticipated outcome of other
contingent events, including litigation, liquidity and other
financial needs, the availability of financing, and the other
risks and uncertainties detailed from time to time in the
Companys filings with the Securities and Exchange Commission.
These filings are available on a web site maintained by the
Securities and Exchange Commission at http://www.sec.gov. The
Company does not undertake to update forward looking statements
except as required by law.
statements as contemplated by the 1995 Private Securities
Litigation Reform Act, including statements regarding the outlook
for the Company. These statements are based on managements
current expectations, estimates and projections. Forward-looking
statements are subject to risks and uncertainties that may cause
actual results in the future to differ materially from the
results projected or implied in any forward-looking statements
contained in this Current Report on Form 8-K. The most
significant of these risks and uncertainties are described in the
Companys Form 10-K, Form 10-Q and Form 8-K reports (including all
amendments to those reports) and include business and economic
conditions and trends in the telecommunications industry
affecting the Companys customers, the adequacy of the Companys
insurance and other reserves and allowances for doubtful
accounts, whether the carrying value of the Companys assets may
be impaired, preliminary purchase price allocations of acquired
businesses, expected benefits and synergies of acquisitions,
future financial and operating results, the future impact of any
acquisitions or dispositions, adjustments and cancellations
related to the Companys backlog, the anticipated outcome of other
contingent events, including litigation, liquidity and other
financial needs, the availability of financing, and the other
risks and uncertainties detailed from time to time in the
Companys filings with the Securities and Exchange Commission.
These filings are available on a web site maintained by the
Securities and Exchange Commission at http://www.sec.gov. The
Company does not undertake to update forward looking statements
except as required by law.
Item 9.01 Financial Statement and Exhibits.
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(d)
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Exhibits
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99.1
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Transcript of Dycom Industries, Inc.s webcast and
conference call held on March 1, 2017. |
About DYCOM INDUSTRIES, INC. (NYSE:DY)
Dycom Industries, Inc. is a provider of specialty contracting services throughout the United States and in Canada. The Company, through its subsidiaries, provides program management, engineering, construction, maintenance and installation services for telecommunications providers, underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. The Company provides the labor, tools and equipment necessary to design, engineer, locate, maintain, expand, install and upgrade the telecommunications infrastructure of its customers. The Company also provides tower construction, lines and antenna installation, and foundation and equipment pad construction for wireless carriers, as well as equipment installation and material fabrication, and site testing services. The Company’s subsidiaries include CertusView Technologies, LLC and Dycom Investments, Inc. DYCOM INDUSTRIES, INC. (NYSE:DY) Recent Trading Information
DYCOM INDUSTRIES, INC. (NYSE:DY) closed its last trading session up +1.11 at 97.78 with 1,598,271 shares trading hands.
