Dycom Industries (DY) has reported 65.62 percent jump in profit for the quarter ended Oct. 29, 2016. The company has earned $51.05 million, or $1.59 a share in the quarter, compared with $30.82 million, or $0.91 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $53.75 million, or $1.67 a share compared with $42.03 million or $1.24 a share, a year ago.
Revenue during the quarter grew 21.23 percent to $799.22 million from $659.27 million in the previous year period. Gross margin for the quarter contracted 5 basis points over the previous year period to 23.05 percent. Total expenses were 88.80 percent of quarterly revenues, down from 88.87 percent for the same period last year. This has led to an improvement of 7 basis points in operating margin to 11.20 percent.
Operating income for the quarter was $89.48 million, compared with $73.38 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $129.23 million compared with $105.67 million in the prior year period. At the same time, adjusted EBITDA margin improved 14 basis points in the quarter to 16.17 percent from 16.03 percent in the last year period.
For the second-quarter, Dycom Industries projects revenue to be in the range of $640 million to $670 million. The company forecasts diluted earnings per share to be in the range of $0.53 to $0.65. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.61 to $0.73.
Working capital increasesDycom Industries has recorded an increase in the working capital over the last year. It stood at $654.98 million as at Oct. 29, 2016, up 15.86 percent or $89.66 million from $565.32 million on Oct. 24, 2015. Current ratio was at 3.10 as on Oct. 29, 2016, down from 3.24 on Oct. 24, 2015. Cash conversion cycle (CCC) has decreased to 29 days for the quarter from 41 days for the last year period. Days sales outstanding went down to 37 days for the quarter compared with 47 days for the same period last year.
Days inventory outstanding has decreased to 6 days for the quarter compared with 10 days for the previous year period. At the same time, days payable outstanding went down to 14 days for the quarter from 15 for the same period last year.
Debt moves upDycom Industries has witnessed an increase in total debt over the last one year. It stood at $792 million as on Oct. 29, 2016, up 23.44 percent or $150.37 million from $641.63 million on Oct. 24, 2015. Total debt was 43.08 percent of total assets as on Oct. 29, 2016, compared with 41.90 percent on Oct. 24, 2015. Debt to equity ratio was at 1.29 as on Oct. 29, 2016, up from 1.18 as on Oct. 24, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
