EXHIBIT 99.1
[DYCOM LETTERHEAD]
N E W S R E L E A S E
------------------------
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 December 8, 2003
DYCOM PROVIDES UPDATED GUIDANCE FOR THE NEXT
TWO FISCAL QUARTERS
Palm Beach Gardens, Florida, December 8, 2003--Dycom Industries, Inc. (NYSE
Symbol: "DY") announced its updated outlook today for the second and third
quarters of fiscal 2004. The Company currently expects revenue for the second
quarter of fiscal 2004 to range from $170 million to $185 million and diluted
earnings per share to range from $0.14 to $0.18. For the third quarter of fiscal
2004, the Company currently expects revenue to range from $180 million to $195
million and diluted earnings per share to range from $0.18 to $0.23. This
outlook includes the expected results for recently acquired First South Utility
Construction, Inc. and UtiliQuest Holdings Corp.
A Tele-Conference call to review the Company's recent acquisitions and address
its updated outlook will be hosted at 9:00 a.m. (ET), Tuesday, December 9, 2003;
Call 888-428-4480 (United States) or 612-288-0340 (International) and request
"Dycom Recent Acquisitions" conference call. A live webcast of the conference
call will be available at http://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 at http://www.dycomind.com until Thursday, January 8, 2004.
Dycom is a leading provider of engineering, construction, and maintenance
services to telecommunication providers 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 provides
underground utility locating and mapping and electric utility construction
services.
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, whether
recent acquisitions can be efficiently integrated into our existing operations,
the impact of any future acquisitions, 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.