Dycom Industries (DY) 8-K Dycom Announces Fiscal 2008 First Quarter Results and Provides Guidance for the Next Fiscal Quarter

Exhibit 99.1

NEWS RELEASE

FOR IMMEDIATE RELEASE	Contact:	Steven E. Nielsen, President and CEO
		Richard L. Dunn, Senior Vice President and CFO
		(561) 627-7171

Palm Beach Gardens, Florida November 19, 2007

DYCOM ANNOUNCES FISCAL 2008 FIRST QUARTER RESULTS AND
PROVIDES GUIDANCE FOR THE NEXT FISCAL QUARTER

Palm Beach Gardens, Florida, November 19, 2007 — Dycom Industries, Inc. (NYSE Symbol: “DY”) announced today its results for the first quarter ended October 27, 2007. The Company reported income from continuing operations for the quarter ended October 27, 2007 of $15.3 million, or $0.37 per common share diluted, versus income from continuing operations for the quarter ended October 28, 2006 of $9.5 million, or $0.24 per common share diluted. Net income, including the results of discontinued operations, for the quarter ended October 27, 2007 was $14.9 million, or $0.36 per common share diluted, compared to $9.6 million, or $0.24 per common share diluted, for the quarter ended October 28, 2006. Total contract revenues from continuing operations for the quarter ended October 27, 2007 were $329.7 million compared to total contract revenues from continuing operations of $270.6 million for the quarter ended October 28, 2006, an increase of 21.9%. Stock-based compensation expense for the quarter ended October 27, 2007 and quarter ended October 28, 2006 was $2.1 million and $1.7 million, respectively, on a pre-tax basis.

Dycom also announced its outlook for the second quarter of fiscal 2008. The Company currently expects revenue for the second quarter of fiscal 2008 to range from $290 million to $310 million and diluted earnings per share to range from $0.15 to $0.21. Included in the expected results is stock-based compensation expense of approximately $2.1 million on a pre-tax basis.

A Tele-Conference call to review the Company’s results and address its outlook will be hosted at 9:00 a.m. (ET), Tuesday, November 20, 2007; Call 866-205-3921 (United States) or 612-332-0718 (International) and request “Dycom Earnings” conference call.A live webcast of the conference call will be available athttp://www.dycomind.com. If you are unable to attend the conference call at the scheduled time, a replay of the live webcast will also be available athttp://www.dycomind.com until Thursday, December 20, 2007.

Dycom is a leading provider of specialty contracting services throughout the United States. These services include engineering, construction, maintenance and installation services to telecommunications providers, underground locating services to various utilities including telecommunications providers, and other construction and maintenance services to electric utilities and others.

The fiscal 2008 first quarter results are preliminary and the information is unaudited. This press release contains forward-looking statements as contemplated by the 1995 Private Securities Litigation Reform Act. Such statements include, but are not limited to, the Company’s expectations for revenues and earnings per share. These statements are based on management’s current expectations, estimates and projections. Forward-looking statements are subject to risks and uncertainties that may cause actual results in the future to differ materially from the results projected or implied in any forward-looking statements contained in this press release. Such risks and uncertainties include: business and economic conditions in the telecommunications industry affecting our customers, the adequacy of our insurance and other reserves and allowances for doubtful accounts, whether the carrying value of our assets may be impaired, the impact of any future acquisitions and whether they can be efficiently integrated into our existing operations, the anticipated outcome of other contingent events, including litigation, liquidity needs and the availability of financing, as well as other risks detailed in our filings with the Securities and Exchange Commission. The Company does not undertake to update forward-looking statements.

—Tables Follow—

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NYSE: “DY”

DYCOM INDUSTRIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
October 27, 2007 and July 28, 2007
Unaudited

	October 27,		July 28,
	2007		2007
	($ in 000’s)
ASSETS
Current Assets:
Cash and equivalents	$	19,232	$	18,862
Accounts receivable, net		157,078		146,864
Costs and estimated earnings in excess of billings		97,554		95,392
Deferred tax assets, net		16,634		15,478
Inventories		9,349		8,268
Other current assets		12,012		7,266
Current assets of discontinued operations		288		307
Total current assets		312,147		292,437
Property and equipment, net		172,793		164,544
Intangible assets, net		318,810		320,952
Other		11,603		11,831
Total	$	815,353	$	789,764
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	33,222	$	30,375
Current portion of debt		3,094		3,301
Billings in excess of costs and estimated earnings		1,375		712
Accrued self-insured claims		27,690		26,902
Income taxes payable		8,926		1,947
Other accrued liabilities		51,153		63,076
Current liabilities of discontinued operations		1,239		939
Total current liabilities		126,699		127,252
Long-term debt		167,786		163,509
Accrued self-insured claims		36,355		33,085
Deferred tax liabilities, net non-current		16,494		19,316
Other liabilities		9,077		1,322
Non-current liabilities of discontinued operations		651		649
Stockholders’ Equity		458,291		444,631
Total	$	815,353	$	789,764

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NYSE: “DY”

DYCOM INDUSTRIES, INC. AND
SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited

	Three Months			Three Months
	Ended			Ended
	October 27,			October 28,
	2007			2006
	(In 000’s, except per share amounts)
Contract revenues	$	329,672		$	270,553
Cost of earned revenues, excluding depreciation		261,312			217,765
General and administrative expenses (1)		25,608			21,679
Depreciation and amortization		16,047			12,495
Total		302,967			251,939
Interest income		210			393
Interest expense		(3,556	)		(3,757	)
Other income, net		1,572			495
Income from continuing operations before income taxes		24,931			15,745
Provision for income taxes		9,674			6,219
Income from continuing operations		15,257			9,526
Income (loss) from discontinued operations, net of tax (2)		(330	)		34
Net income	$	14,927		$	9,560
Earnings per common share — Basic:
Income from continuing operations	$	0.37		$	0.24
Income (loss) from discontinued operations		(0.01	)		—
Net income	$	0.37		$	0.24
Earnings per common share — Diluted:
Income from continuing operations	$	0.37		$	0.24
Income (loss) from discontinued operations		(0.01	)		—
Net income	$	0.36		$	0.24
Shares used in computing earnings per common share:
Basic		40,718,872			40,211,358
Diluted		41,174,497			40,509,514

Earnings per share amounts may not add due to rounding.

(1)	Includes stock-based compensation expense of $2.1 million and $1.7 million for the three months ended October 27, 2007 and October 28, 2006, respectively.
(2)	The Company discontinued the operations of one of its subsidiaries in fiscal 2007 and has reported those results separately as discontinued operations in the financial statements for all periods presented.

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