Palm Beach Gardens, Florida, February 26, 2008--Dycom Industries, Inc. (NYSE: "DY") announced today its results for the second quarter ended January 26, 2008. The Company reported a loss from continuing operations for the quarter ended January 26, 2008 of ($3.1) million, or ($0.08) per common share diluted, versus income from continuing operations for the quarter ended January 27, 2007 of $5.6 million, or $0.14 per common share diluted. Net loss, including the results of discontinued operations, for the quarter ended January 26, 2008 was ($3.2) million, or ($0.08) per common share diluted, compared to net income of $5.6 million, or $0.14 per common share diluted, for the quarter ended January 27, 2007. On a non-GAAP basis, excluding the impact of the pending settlement of the previously announced wage and hour class action with respect to three of the Company’s subsidiaries, earnings from continuing operations for the quarter ended January 26, 2008 were $1.5 million, or $0.04 per common share diluted. Total contract revenues from continuing operations for the quarter ended January 26, 2008 were $284.8 million compared to $258.3 million for the quarter ended January 27, 2007, an increase of 10.2%. Stock based compensation expense for the quarter ended January 26, 2008 and quarter ended January 27, 2007 was $1.0 million and $1.6 million, respectively, on a pre-tax basis.

For the six months ended January 26, 2008 income from continuing operations was $12.1 million, or $0.30 per common share diluted, versus income from continuing operations for the six months ended January 27, 2007 of $15.2 million, or $0.37 per common share diluted. Net income, including the results of discontinued operations, for the six months ended January 26, 2008 was $11.7 million or $0.28 per common share diluted, compared to net income of $15.1 million, or $0.37 per common share diluted for the six months ended January 27, 2007. On a non-GAAP basis, excluding the impact of the pending settlement of the previously announced wage and hour class action with respect to three of the Company’s subsidiaries, income from continuing operations for the six months ended January 26, 2008 was $16.7 million, or $0.41 per common share on a fully diluted basis. Total contract revenues from continuing operations for the six months ended January 26, 2008 were $614.4 million compared to $528.8 million for the six months ended January 27, 2007, an increase of 16.2%. Stock based compensation expense for the six months ended January 26, 2008 and the six months ended January 27, 2007 was $3.2 million and $3.3 million, respectively, on a pre-tax basis.

Dycom also announced its outlook for the third quarter of fiscal 2008. The Company currently expects revenue from continuing operations for the third quarter of fiscal 2008 to range from $270 million to $295 million and diluted earnings per share from continuing operations to range from $0.08 to $0.13, including stock based compensation expense of approximately $1.2 million on a pre-tax basis. Management believes that discontinued operations will not have a material impact on the quarter.

A Tele-Conference call to review the Company's results and address its outlook will be hosted at 9:00 a.m. (ET), Wednesday, February 27, 2008; Call 800-230-1059 (United States) or 612-332-0923 (International) and request "Dycom Results" 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 Friday, March 29, 2008.

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 facility locating services to various utilities including telecommunications providers, and other construction and maintenance services to electric utilities and others.

Fiscal 2008 second quarter and six-month results are preliminary and are 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, stock-based compensation expense 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 our recent acquisition 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. The Company does not undertake to update forward-looking statements.

Click here for tables