PALM BEACH GARDENS, Fla.,
July 6, 2016 /PRNewswire/
-- Dycom Industries, Inc. (NYSE: DY) announced today that
it has completed its acquisition of certain assets and related
liabilities used in the current wireless network deployment and
wireline businesses of Goodman Networks Incorporated for a cash
purchase price of $107.5 million, subject to an estimated
working capital adjustment of $4.7
million. Dycom funded the acquisition through a combination
of cash on hand and borrowings under Dycom's senior secured credit
facility.
Forward Looking Information
This press release contains forward-looking statements as
contemplated by the 1995 Private Securities Litigation Reform Act.
These statements include expectations regarding an acquisition,
including expected benefits of the transaction, future financial
and operating results, future opportunities for the combined
businesses and other statements regarding events or developments
that the parties believe or anticipate will or may occur in the
future. 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 and trends 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, the anticipated
outcome of other contingent events, including litigation, liquidity
and other financial needs, the availability of financing, and the
other risks detailed in our filings with the Securities and
Exchange Commission. The Company does not undertake to update
forward-looking statements.
About Dycom Industries, Inc.
Dycom is a leading provider of specialty contracting services
throughout the United States and
in Canada. These services include
project management, engineering, construction, maintenance and
installation services for telecommunications providers, underground
facility locating services for various utilities, including
telecommunications providers, and other construction and
maintenance services for electric and gas utilities.
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SOURCE Dycom Industries, Inc.