Concentration of Credit Risk

12 Months Ended

Jul. 30, 2016

The Company is subject to concentrations of credit risk relating primarily to its cash and equivalents, 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 in each of fiscal 2016, 2015, and 2014 accounting for approximately 69.7%, 61.1%, and 58.3% of its total contract revenues, respectively. Customers whose contract revenues exceeded 10% of total contract revenue during fiscal 2016, 2015, or 2014, were as follows:



	Fiscal Year Ended
	2016	2015	2014
AT&T Inc.	24.4%	20.8%	19.2%
CenturyLink, Inc.	14.5%	14.2%	13.8%
Comcast Corporation	13.6%	12.9%	11.7%
Verizon Communications Inc.	11.0%	7.6%	8.2%

Customers whose combined amounts of trade accounts receivable and costs and estimated earnings in excess of billings, net (“CIEB, net”) exceeded 10% of total combined trade receivables and CIEB, net as of July 30, 2016 or July 25, 2015 were as follows (dollars in millions):



	July 30, 2016			July 25, 2015
	Amount		% of Total	Amount		% of Total
AT&T Inc.	$	138.8	20.3%	$	101.7	17.7%
Comcast Corporation	$	95.3	13.9%	$	63.0	11.0%
CenturyLink, Inc.	$	79.0	11.5%	$	80.1	14.0%
Windstream Corporation	$	79.0	11.5%	$	47.8	8.3%
Verizon Communications Inc.	$	69.0	10.1%	$	50.8	8.9%

In addition, another customer had $71.5 million, or 10.4% as of July 30, 2016, and $64.5 million, or 11.2% as of July 25, 2015.

The Company believes that none of its significant customers were 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 30, 2016. 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.