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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 May 23, 2005


DYCOM ANNOUNCES FISCAL 2005 THIRD QUARTER RESULTS AND PROVIDES GUIDANCE FOR THE NEXT FISCAL QUARTER

Palm Beach Gardens, Florida, May 23, 2005--Dycom Industries, Inc. (NYSE Symbol: "DY") announced its results today for the third quarter ended April 30, 2005. The Company reported net income for the quarter ended April 30, 2005 of $13.7 million, or $0.28 per common share diluted, versus net income for the quarter ended April 24, 2004 of $11.2 million, or $0.23 per common share diluted. Total contract revenues for the quarter ended April 30, 2005 were $247.7 million compared to total contract revenues of $219.6 million for the quarter ended April 24, 2004, an increase of 12.8%. Included in net income for the third quarter of fiscal 2004 was a charge of $2.3 million ($1.4 million net of tax) in connection with a federal employment tax audit. Excluding this charge, net income for the quarter ended April 24, 2004 would have been $12.6 million, or $0.26 per common share diluted.

For the nine months ended April 30, 2005, the Company reported net income of $36.7 million, or $0.75 per common share diluted, versus net income for the nine months ended April 24, 2004 of $41.5 million, or $0.85 per common share diluted. Total contract revenues for the nine months ended April 30, 2005 were $735.4 million compared to total contract revenues of $612.0 million for the nine months ended April 24, 2004, an increase of 20.2%. Included in net income for the nine months ended April 24, 2004 was a nonrecurring gain of $11.4 million ($6.8 million net of tax) related to the sale of long-term accounts receivable, and a charge of $2.3 million ($1.4 million net of tax) in connection with a federal employment tax audit. Excluding these items, net income for the nine months ended April 24, 2004 would have been $36.1 million, or $0.74 per common share diluted.

Dycom also announced its outlook for the remainder of fiscal 2005. For the fourth quarter of fiscal 2005, the Company currently expects revenue to range from $250 million to $270 million and diluted earnings per share to range from $0.33 to $0.38. This outlook includes gains on the sale of a portion of Dycom's assets used for electric utility customers of $0.03 per share.

A Tele-Conference call to review the Company's results and address its outlook will be hosted at 9:00 a.m. (ET), Tuesday, May 24, 2005; call 877-209-0397 (United States) or 612-234-9959 (International) and request "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, June 23, 2005.

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.

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.

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