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TM FOR IMMEDIATE RELEASE ● DYCOM INDUSTRIES INC . Outlook 11780 U.S. Highway 1 , Suite 600 , Palm Beach Gardens , FL 33408 Phone : ( 561 ) 627-7171 NEWS RELEASE Contact : DYCOM INDUSTRIES , INC . ANNOUNCES FISCAL 2022 FIRST QUARTER RESULTS Palm Beach Gardens , Florida , May 25 , 2021 - Dycom Industries , Inc. ( NYSE : DY ) announced today its results for the first quarter ended May 1 , 2021 . First Quarter Fiscal 2022 Highlights Contract revenues of $ 727.5 million for the quarter ended May 1 , 2021 , compared to $ 814.3 million for the quarter ended April 25 , 2020. Contract revenues decreased 11.1 % on an organic basis after excluding $ 3.9 million in contract revenues from storm restoration services for the quarter ended May 1 , 2021 . Steven E. Nielsen , President and CEO H. Andrew DeFerrari , Senior Vice President and CFO Callie A. Tomasso , Investor Relations ( 561 ) 627-7171 May 25 , 2021 Non - GAAP Adjusted EBITDA of $ 44.1 million , or 6.1 % of contract revenues , for the quarter ended May 1 , 2021 , compared to $ 69.9 million , or 8.6 % of contract revenues , for the quarter ended April 25 , 2020 . Use of Non - GAAP Financial Measures On a GAAP basis , net income was $ 0.9 million , or $ 0.03 per common share diluted , for the quarter ended May 1 , 2021 , compared to net loss of $ 32.4 million , or a loss of $ 1.03 per common share , for the quarter ended April 25 , 2020. Non GAAP Adjusted Net Loss was $ 1.2 million , or a loss of $ 0.04 per common share , for the quarter ended May 1 , 2021 , compared to Non - GAAP Adjusted Net Income of $ 11.4 million , or $ 0.36 per Non - GAAP Adjusted Diluted Share , for the quarter ended April 25 , 2020 . The Company issued $ 500.0 million in aggregate principal amount of 4.50 % senior notes due April 2029 ( the " 2029 Notes " ) , amended its senior credit facility to extend the maturity to April 2026 and resize capacity , and , with a portion of the net proceeds from the 2029 Notes offering and available cash , repaid $ 105.0 million of revolver borrowings and $ 71.9 million of term loan borrowings . The Company ended the quarter with cash and equivalents of $ 330.6 million , no outstanding borrowings on its revolving line of credit , $ 350.0 million of Term Loan outstanding , $ 58.3 million aggregate principal amount of 0.75 % convertible senior notes due September 2021 ( the " 2021 Convertible Notes " ) outstanding , and $ 500.0 million aggregate principal amount of 2029 Notes outstanding . For the quarter ending July 31 , 2021 , the Company expects contract revenues to range from in - line to modestly lower and Non - GAAP Adjusted EBITDA as a percentage of contract revenues to decrease as compared to the quarter ended July 25 , 2020. For additional information regarding the Company's outlook , please see the presentation materials available on the Company's website posted in connection with the conference call discussed below . The Company reports its financial results in accordance with U.S. generally accepted accounting principles ( GAAP ) . In quarterly results releases , trend schedules , conference calls , slide presentations , and webcasts , the Company may use or discuss Non - GAAP financial measures , as defined by Regulation G of the Securities and Exchange Commission . See Reconciliation of Non - GAAP Financial Measures to Comparable GAAP Financial Measures in the press release tables that follow .