Dycom Lowers FY Expectations - Quick Facts

(RTTNews) - Dycom Industries, Inc. (DY) announced, for fiscal 2019, the company now anticipates non-GAAP earnings per share in a range of $4.26 - $5.15, revised from prior guidance range of $5.22 - $6.14. Contract revenues are expected in the range of $3.23 - $3.43 billion, down from prior guidance range of $3.30 - $3.50 billion. The company revised its financial guidance for the 2019 fiscal year to reflect the actual results for the quarter ended April 28, 2018 and the anticipated timing of activity on large customer programs and the related impacts on revenues and margins.

Non-GAAP net income was $20.6 million, or $0.65 per share, for the quarter ended April 28, 2018, compared to $41.6 million, or $1.30 per common share, prior year.

Contract revenues were $731.4 million for the quarter ended April 28, 2018, compared to $786.3 million for the quarter ended April 29, 2017. Contract revenues decreased 10.0% on an organic basis.