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 22, 2004

DYCOM ANNOUNCES FISCAL 2005 FIRST QUARTER EARNINGS AND PROVIDES GUIDANCE FOR THE SECOND QUARTER OF FISCAL 2005

Palm Beach Gardens, Florida, November 22, 2004--Dycom Industries, Inc. (NYSE Symbol: "DY") announced its results today for the first quarter ended October 30, 2004. The Company reported net income for the quarter ended October 30, 2004 of $15.6 million, or $0.32 per common share diluted, versus net income for the quarter ended October 25, 2003 of $13.9 million, or $0.29 per common share diluted. Total contract revenues for the quarter ended October 30, 2004 were $263.2 million compared to total contract revenues of $196.0 million for the quarter ended October 25, 2003, an increase of 34.3%.

Dycom also announced its outlook for the second quarter of fiscal 2005. The Company currently expects revenue for the second quarter of fiscal 2005 to range from $200 million to $220 million and diluted earnings per share to range from $0.14 to $0.19.

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 23, 2004; Call 877-209-0397 (United States) or 612-332-0634 (International) and request the "Dycom Earnings" 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, December 23, 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.

--- First Quarter 2005 Earnings PDF ---