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Quanta Services Announces Definitive Agreement to Sell Its Telecommunications Subsidiaries to Dycom Industries for $275 Million



Quanta Services Announces Definitive Agreement to Sell Its Telecommunications
              Subsidiaries to Dycom Industries for $275 Million

Transaction Enables Further Focus on Electric Power & Pipeline Infrastructure
Markets

PR Newswire

HOUSTON, Nov. 19, 2012

HOUSTON, Nov. 19, 2012 /PRNewswire/ -- Quanta Services, Inc. (NYSE: PWR) today
announced that it has entered into a definitive agreement to sell its
telecommunications subsidiaries to Dycom Industries, Inc. (NYSE: DY) for
approximately $275 million in cash, subject to final adjustments. The
subsidiaries included in the transaction comprise substantially all of
Quanta's domestic telecommunications infrastructure services operations.
Quanta intends to use the proceeds of the transaction to support its ongoing
strategic growth initiatives primarily associated with electric power and
pipeline infrastructure and for general corporate purposes. The required
waiting period under the Hart-Scott Rodino Act has expired, and subject to
customary conditions, the transaction is expected to close by December 31,
2012. Stephens Inc. served as financial advisor to Quanta Services in the
transaction.

(Logo: http://photos.prnewswire.com/prnh/20110810/MM50805LOGO)

"Significant electric power infrastructure investments are anticipated in
North America and worldwide over the next several years, and the development
of North American energy resources from conventional and unconventional
formations will require major infrastructure expansion. This transaction
enables Quanta to further strategically focus on energy infrastructure
markets, which we believe will undergo substantial development in the coming
years," said Jim O'Neil, president and chief executive officer of Quanta
Services. "Dycom Industries is a leader in the telecommunications
infrastructure industry, and we are pleased that our telecommunications
infrastructure services employees will be part of a high-quality organization
once this transaction is completed. Further, I want to recognize Ken Trawick,
who has been with Quanta since 1999 and has served as the president of our
telecommunications operations since 2004, for his leadership and dedication to
Quanta. We wish him well as he works with Dycom to ensure a smooth transition
of operations. I would also like to thank all of our telecommunications
employees for their significant contributions to our organization over the
years."

The subsidiaries in the transaction account for substantially all of Quanta's
domestic telecommunications infrastructure services operations. The trailing
twelve month revenues through September 30, 2012, associated with these
subsidiaries were approximately $535 million, which includes approximately $34
million for services performed within Quanta's Fiber Optic Licensing segment
and approximately $39 million of revenues from other Quanta segments. After
closing the transaction, Quanta plans to disclose the estimated financial
effects of the transaction on this year's fourth quarter and full year 2012
results.

ABOUT QUANTA SERVICES
Quanta Services is a leading specialized contracting services company,
delivering infrastructure solutions for the electric power and natural gas and
pipeline industries in North American and in certain international markets.
Quanta's comprehensive services include designing, installing, repairing and
maintaining network infrastructure. Additionally, Quanta licenses
point-to-point fiber optic telecommunications infrastructure in certain
markets and offers related design, procurement, construction and maintenance
services. With operations throughout North America and in certain
international markets, Quanta has the manpower, resources and expertise to
complete projects that are local, regional, national or international in
scope.

Forward-Looking Statements
This press release (and oral statements regarding the subject matter of this
release) contains forward-looking statements intended to qualify for the "safe
harbor" from liability established by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include, but are not limited to,
statements regarding the anticipated timing of and the completion of the sale
of Quanta's telecommunications subsidiaries (the "Transaction"); the impact of
the Transaction on projected revenues, earnings per share, margins, capital
expenditures and other projections of financial and operating results;
expectations regarding our business outlook, growth or opportunities in
particular markets; Quanta's strategies and plans; statements reflecting
expectations, intentions, assumptions or beliefs about future events, and
other statements that do not relate strictly to historical or current facts.
Although Quanta's management believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to be correct. These statements can be affected by
inaccurate assumptions and by a variety of risks and uncertainties that are
difficult to predict or beyond our control, including, among others, the
possibility that one or more closing conditions for the Transaction may not be
satisfied or waived, the effects of disruption from the Transaction;
variations in operating results; the effects of industry, economic or
political conditions outside of the control of Quanta; adverse economic and
financial conditions, including weakness in the capital markets; trends and
growth opportunities in relevant markets; and other risks and uncertainties
detailed in Quanta's Annual Report on Form 10-K for the year ended
December 31, 2011, Quanta's Quarterly Reports on Form 10-Q for the quarters
ended March 31, 2012, June 30, 2012 and September 30, 2012, and any other
documents that Quanta files with the Securities and Exchange Commission (SEC).
Should one or more of these risks materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
expressed or implied in any forward-looking statements. Investors are
cautioned not to place undue reliance on these forward-looking statements,
which are current only as of this date. Quanta does not undertake and
expressly disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. For a discussion of these risks, uncertainties and assumptions,
investors are urged to refer to Quanta's documents filed with the SEC that are
available through the company's website at www.quantaservices.com or through
the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at
www.sec.gov.

Contacts: Derrick Jensen, CFO
          Investors - Kip Rupp, CFA
          Media - Reba Reid
          Quanta Services, Inc.
          713-629-7600

SOURCE Quanta Services, Inc.

Website: http://www.quantaservices.com
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