-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Mrp2cI313UbFVuBVgNstcoI8lG9s4KaAS94K0qoX2xEr71Sb7D+6vNgi3TlUJZ9E bZG4O24RfTbsS70rtTcCMw== 0000067215-97-000010.txt : 19971017 0000067215-97-000010.hdr.sgml : 19971017 ACCESSION NUMBER: 0000067215-97-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971031 ITEM INFORMATION: FILED AS OF DATE: 19971016 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: DYCOM INDUSTRIES INC CENTRAL INDEX KEY: 0000067215 STANDARD INDUSTRIAL CLASSIFICATION: WATER, SEWER, PIPELINE, COMM AND POWER LINE CONSTRUCTION [1623] IRS NUMBER: 591277135 STATE OF INCORPORATION: FL FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-10613 FILM NUMBER: 97696758 BUSINESS ADDRESS: STREET 1: 4440 PGA BLVD. STE 600 STREET 2: FIRST UNION CENTER CITY: PALM BEACH GARDENS STATE: FL ZIP: 33410 BUSINESS PHONE: 5616277171 MAIL ADDRESS: STREET 1: P O BOX 3524 STREET 2: SUITE 860 CITY: WEST PALM BEACH STATE: FL ZIP: 33402 FORMER COMPANY: FORMER CONFORMED NAME: MOBILE HOME DYNAMICS INC DATE OF NAME CHANGE: 19820302 8-K 1 DYCOM INDUSTRIES INC. 8-K 1 Washington, D.C. 20549 ---------------- Form 8-K Current Report PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): October 1, 1997 Dycom Industries, Inc. (Exact name of registrant as specified in its charter) Florida 0-5423 59-1277135 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification No.) 4440 PGA Boulevard, Suite 600 Palm Beach Gardens, Florida 33410 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (561) 627-7171 2 Items 1 through 4. Not Applicable. Item 5. On October 1, 1997, the registrant announced its operating results for the month ending August 31, 1997. August 1997 was the first month of combined operations of Dycom Industries, Inc. ("Dycom" or the "Company") and Communications Construction Group, Inc. ("CCG"). Dycom acquired CCG on July 29, 1997 in a business combination accounted for as a pooling of interests. The Company reported income before income taxes for the month ended August 31,1997 of $2,341,571, an increase of 69% over the same period last year. Net income for the month ended August 31, 1997 was $1,348,449 or $0.12 per common and common equivalent share on total revenues of $22,943,379. These results compare to net income of $777,312, or $0.07 per common and common equivalent share on total revenues of $18,979,679 for the month ended August 31,1996. Fully diluted earnings per share was $0.12 for the month ended August 31, 1997 compared to $0.07 for the same period last year. The press release issued by Dycom on October 1, 1997 is attached hereto as Exhibit 99.1 and incorporated herein by reference. Item 6. Not applicable. Item 7. (a) Not Applicable (b) Not Applicable (c) Exhibits 99.1 Press release, dated October 1, 1997. Item 8. Not applicable. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dycom Industries, Inc. (Registrant) Date: October 16, 1997 /s/ Thomas R. Pledger Thomas R. Pledger Chairman and Chief Executive Officer Date: October 16, 1997 /s/ Steven Nielsen Steven Nielsen President and Chief Operating Officer Date: October 16, 1997 /s/ Douglas J. Betlach Douglas J. Betlach Vice President, Treasurer and Chief Financial Officer EX-99 2 PRESS RELEASE DATED OCTOBER 1, 1997 1 N E W S R E L E A S E FOR IMMEDIATE RELEASE Contact: Thomas R. Pledger, Chairman and CEO Steven E. Nielsen, President and COO Douglas J. Betlach, Vice President and CFO (561) 627-7171 Palm Beach Gardens, Florida October 1, 1997 DYCOM ANNOUNCES AUGUST 1997 COMBINED OPERATING RESULTS Dycom Industries, Inc. (NYSE: "DY") announced today its operating results for the month ending August 31, 1997. August 1997 was the first month of combined operations of Dycom and Communications Construction Group, Inc. ("CCG") which was acquired by Dycom on July 29, 1997 in a business combination accounted for as a pooling of interests. CCG is a West Chester, Pennsylvania based provider of engineering and construction services to cable television multiple system operators throughout the United States. Financial information included herein includes CCG for all periods reported. The Company reported income before income taxes for the month ended August 31, 1997 of $2,341,571, an increase of 69% over the same period last year. Net income for the month ended August 31, 1997 was $1,348,449, or $0.12 per common and common equivalent share on total revenues of $22,943,379. These results compare to net income of $777,312, or $0.07 per common and common equivalent share on total revenues of $18,979,679 for the month ended August 31, 1996. Fully diluted earnings per share was $0.12 for the month ended August 31, 1997 compared to $0.07 for the same period last year. Dycom is a leading provider of engineering, construction and maintenance services to telecommunications providers that operate throughout the United States. Additionally, the Company provides similar services related to the installation of integrated voice, data, and video local and wide area networks within office buildings and similar structures. Dycom also performs underground utility locating and electric utility contracting services. -- Tables Follow -- 2 NYSE: "DY" DYCOM INDUSTRIES, INC. AND SUBSIDIARIES SUMMARY OF OPERATING RESULTS
One Month Ended: August 31, ($ in 000's except EPS) 1997 1996 -------- --------- Contract revenues earned $ 22,891 $ 18,959 Interest and other revenues, net 52 21 -------- -------- Total revenues 22,943 18,980 -------- -------- Cost of earned revenues 17,723 14,929 General & administrative expenses 2,063 2,022 Depreciation & amortization 816 646 Provision for income taxes 993 606 -------- -------- Total costs, expenses and taxes 21,595 18,203 -------- -------- Net income $ 1,348 $ 777 ======== ======== Net income, per common and common equivalent share: Primary $ 0.12 $ 0.07 ======== ======== Fully diluted $ 0.12 $ 0.07 ======== ======== Shares used in computing earnings per common and common equivalent share: Primary 11,018 10,960 ======== ======== Fully diluted 11,031 10,964 ======== ========
3 NYSE: "DY" DYCOM INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
August 31, July 31, ($ in 000's) 1997 1997 ---------- ---------- ASSETS Current Assets: Cash and equivalents $ 6,223 $ 6,646 Accounts receivable, net 35,552 34,353 Costs & earnings in excess of billings 10,716 10,480 Deferred tax assets, net 2,162 2,169 Other current assets 1,813 1,551 -------- -------- Total current assets 56,466 55,199 Property and Equipment, net 29,600 27,543 Other Assets, including goodwill 5,403 5,420 -------- -------- Total $ 91,469 $ 88,162 ======== ======== LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 11,211 $ 10,282 Notes payable - current 12,993 13,080 Accrued self-insured claims 1,979 2,012 Other current liabilities 14,821 13,606 -------- -------- Total current liabilities 41,004 38,980 Notes payable - non-current 8,944 9,012 Self-insured claims - non-current 6,418 6,418 Stockholders' Equity 35,103 33,752 -------- -------- Total $ 91,469 $ 88,162 ======== ========
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