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UPDATE 1-Dycom posts wider-than-expected Q2 loss
February 23, 2010 / 11:04 PM / 8 years ago

UPDATE 1-Dycom posts wider-than-expected Q2 loss

* Q2 loss $0.10/shr vs est loss $0.02/shr

* Q2 contract revenue $216.3 mln vs est $228.2 mln

Feb 23 (Reuters) - Engineering and construction services firm Dycom Industries Inc (DY.N) posted a wider-than-expected quarterly loss, hurt by an increase in expenses.

For the second quarter ended Jan. 23, the company posted a net loss of $4 million, or 10 cents a share, compared with $78 million, or $1.98 a share, a year ago.

The company, whose customers include telecommunications providers and utilities, posted a 12 percent fall in contract revenue at $216.3 million.

Analysts on average were expecting the company to post a loss of 2 cents a share, before special items, on revenue of $228.2 million, according to Thomson Reuters I/B/E/S.

For the quarter, general and administrative expenses rose 11 percent to $23.9 million.

Shares of the company closed at $8.23 Tuesday on the New York Stock Exchange. (Reporting by Fareha Khan in Bangalore; Editing by Maju Samuel)

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