Dycom Industries Reports EPS of $(0.03) vs. $0.01; Revenue $218.2M vs. $224.22M

Dycom Industries, Inc. DY announced today its results for the second quarter ended January 29, 2011. The Company reported: contract revenues of $218.2 million for the quarter ended January 29, 2011, as compared to $216.3 million for the quarter ended January 23, 2010, an increase of 0.9%; and net loss on a GAAP basis of $5.1 million, or $0.14 loss per common share diluted, for the quarter ended January 29, 2011, compared to a net loss of $4.0 million, or $0.10 loss per common share diluted, for the quarter ended January 23, 2010. On a Non-GAAP basis, the net loss for the quarter ended January 29, 2011 was $1.2 million, or $0.03 per common share diluted. This Non-GAAP net loss excludes a $5.7 million pre-tax loss on debt extinguishment associated with the Company's tender offer for its senior subordinated notes due 2015, which is described more fully below, and $0.2 million in pre-tax acquisition related costs.