Concentration of Credit Risk

12 Months Ended

Jul. 25, 2015

The Company is subject to concentrations of credit risk relating primarily to its cash and equivalents, trade accounts receivable and costs and estimated earnings in excess of billings. The Company grants credit under normal payment terms, generally without collateral, to its customers. These customers primarily consist of telephone companies, cable television multiple system operators, wireless carriers, network operators, telecommunication equipment and infrastructure providers, and electric and gas utilities and others. With respect to a portion of the services provided to these customers, the Company has statutory lien rights which may in certain circumstances assist in the Company’s collection efforts. Adverse changes in overall business and economic factors may impact the Company’s customers and increase credit risks. These risks may become elevated as a result of economic weakness and market volatility. In the past, some of the Company’s customers have experienced significant financial difficulties and likewise, some may experience financial difficulties in the future. These difficulties expose the Company to increased risks related to the collectability of amounts due for services performed.

The Company’s customer base is highly concentrated, with its top five customers accounting for approximately 61.1%, 58.3%, and 58.5% of its total revenues during fiscal 2015, 2014, and 2013, respectively. Customers whose revenues exceeded 10% of total revenue during fiscal 2015, 2014, or 2013 were as follows:



	Fiscal Year Ended
	2015	2014	2013
AT&T Inc.	20.8%	19.2%	15.5%
CenturyLink, Inc.	14.2%	13.8%	14.6%
Comcast Corporation	12.9%	11.7%	10.9%

Certain customers represented 10% or more of combined amounts of trade accounts receivable and costs and estimated earnings in excess of billings, net ("CIEB, net") as of July 25, 2015 or July 26, 2014. AT&T Inc. represented $101.7 million, or 17.7% of combined amounts of trade accounts receivable and CIEB, net as of July 25, 2015 and $87.6 million, or 17.9% as of July 26, 2014. CenturyLink, Inc. represented $80.1 million, or 14.0% of combined amounts of trade accounts receivable and CIEB, net as of July 25, 2015 and $48.2 million, or 9.8% as of July 26, 2014. In addition, Comcast Corporation represented $63.0 million, or 11.0% of combined amounts of trade accounts receivable and CIEB, net as of July 25, 2015 and another customer represented $64.5 million, or 11.2% of combined amounts of trade accounts receivable and CIEB, net as of July 25, 2015.

The Company believes that none of its significant customers was experiencing financial difficulties that would materially impact the collectability of the Company's trade accounts receivable and costs in excess of billings as of July 25, 2015 and July 26, 2014. See Note 4, Accounts Receivable, and Note 5, Costs and Estimated Earnings in Excess of Billings, for additional information regarding the Company's trade accounts receivable and costs and estimated earnings in excess of billings.