1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED] For the fiscal year ended July 31, 1997 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from _______ to _______ Commission File Number 0-5423 DYCOM INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Florida 59-1277135 (State of incorporation) (I.R.S. Employer 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 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, New York Stock Exchange par value $.33 1/3 per share Securities registered pursuant to Section 12(g) of the Act: None (Title of Class) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No[ ] Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ] The aggregate market value of the voting common stock, par value $.33 1/3 per share, held by non-affiliates of the registrant, computed by reference to the closing price of such stock on September 26, 1997 was $213,408,461. Indicate the number of shares outstanding of each of the registrant's classes of common stock, as of the latest practicable date. Class Outstanding as of September 26, 1997 Common Stock, $.33 1/3 10,870,252 The registrant's proxy statement for the Annual Meeting of Shareholders to be held on November 24, 1997 (the "Definitive Proxy Statement") to be filed with the Commission pursuant to Regulation 14A is incorporated by reference into Part III of this Form 10-K. 2 This amendment is filed to correct a typographical error that appeared in Item 6. Selected Financial Data in the line item for the Company's total assets in fiscal year 1995. Item 6. Selected Financial Data The following table sets forth certain selected financial data of the Company for the years ended July 31, 1993, 1994, 1995, 1996, and 1997. The Company acquired CCG on July 29, 1997. The acquisition has been accounted for as a pooling of interest and accordingly, the consolidated financial statements for the periods presented include the accounts of CCG. This data should be read in conjunction with the consolidated financial statements and related notes included elsewhere in this report. 1993<F1> 1994<F1> 1995 1996<F2> 1997<F2> ____ ____ ____ ____ ____ In Thousands, Except Per Share Amounts ______________________________________ Revenues $156,689 $152,647 $188,333 $195,260 $243,923 Income (loss) before income taxes (31,778) (6,710) 8,874 11,381 19,042 Net income (loss) (31,013) (7,501) 5,141 7,664 11,219 Earnings (loss) per common and common equivalent share<F3>: Primary (2.93) (0.71) 0.49 0.71 1.02 Fully diluted (2.93) (0.71) 0.49 0.70 1.02 Total assets 65,890 59,542 64,218 66,195 88,162 Long-term obligations 28,916 6,641<F4> 21,344 17,490 15,430 Stockholders' equity 15,374 8,132 13,319 21,182 33,752 Cash dividends per shar e -0- -0- -0- -0- -0- <F1> The Company changed its method of accounting for income taxes as of the beginning of fiscal 1993; the years prior to fiscal 1993 have not been restated. The cumulative effect of the accounting change increased the net loss by $2,286. Also, the Company wrote-off $24,285 and $1,423 of intangible assets in 1993 and 1994, respectively. In fiscal 1994, the Company recorded a $1.7 million deferred tax asset valuation allowance. <F2> The results of operations for fiscal 1996 and 1997 include a $1.1 million and $0.3 million reduction in the deferred tax valuation allowance. <F3> The options to purchase common stock had an insignificant or anti- dilutive effect on the per share amounts. See Note 1 to the consolidated financial statements regarding the per share data. <F4> The outstanding borrowings under the bank credit agreement were classified as a current liability at July 31, 1994 due to the likelihood of covenant violations within the following twelve months. But for the reclassification, the long-term obligations at July 31, 1994 would have been $25,515. 3 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. DYCOM INDUSTRIES, INC. /s/ Thomas R. Pledger October 28, 1997 - ----------------------- ------------------ By: Thomas R. Pledger Date Chairman and Chief Executive Officer Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. Name Position Date /s/ Douglas J. Betlach Vice President, Chief October 28, 1997 - ----------------------- Financial Officer, and ------------------ Principal Accounting Officer /s/ Steven Nielsen President, Chief October 28, 1997 - ----------------------- Operating Officer, ------------------ and Director /s/ Thomas R. Pledger Director October 28, 1997 - ----------------------- ------------------ /s/ Louis W. Adams, Jr. Director October 28, 1997 - ----------------------- ------------------ /s/ Walter L. Revell Director October 28, 1997 - ----------------------- ------------------ /s/ Ronald L. Roseman Director October 28, 1997 - ----------------------- ------------------ /s/ Ronald P. Younkin Director October 28, 1997 - ----------------------- ------------------