UPDATE: Dycom Posts Downbeat FQ4 Earnings

Dycom Industries

reported a 2.5% rise in its fiscal fourth-quarter earnings. Dycom's quarterly profit climbed to $13.3 million, or $0.39 per share, versus $13 million, or $0.38 per share, in the year-ago period. Its contract revenue gained 4.7% to $318 million. However, analysts were expecting earnings of $0.41 per share on revenue of $324 million. Dycom's gross margin declined to 20.7% from 21.3%. Dycom shares dropped 12.66% to $16.49 in after-hours trading.