Cash basis earnings which exclude the amortization of intangibles were $0.53 per share in the fourth quarter of 2000 and $1.83 per share for the year.
For the year ended December 31, 2000, the Company reported net income of
$81.0 million or $1.67 per share on revenue of $1.330 billion compared to net
income of $50.7 million or $1.19 per share on revenue of $1.059 billion in
1999.
The above financial results exclude after tax charges of $17.3 million or
$0.35 per share for the fourth quarter of 2000 and $15.9 million or $0.32 per
share (net of previous gains) for the year ended December 31, 2000, as well as
$6.0 million or $0.14 per share for the fourth quarter and year ended
December 31, 1999 primarily related to non-core international assets.
Our team members have once again delivered record results in 2000, said
Joel-Tomas Citron, President and CEO. Our business mix and operating methods
allow us to gain profitable market share and deliver solid results. The
strength of our long-cycle business such as master service agreements combined
with our on-going initiatives branding, value added service offering and
focus on operating efficiencies give us confidence that 2001 will be
another year of strong earnings performance.
MasTec reported the following:
Datacom Network Services revenue was $326.5 million in the 2000 quarter,
up 26% from $259.8 million in the same quarter last year. Operating margin
was 14.6% in 2000 compared to 14.0% in the same quarter last year.
Energy Network Services revenue was $34.3 million in 2000, down 13% from
$39.4 million in the same quarter last year. Operating margin was 8.2% in
2000, compared to 8.3% percent in the same quarter last year.
Our Brazilian operations reported revenue of $16.8 million in 2000 up 27%
compared to $13.2 million in the same quarter last year.
Backlog at December 31, 2000 was $1.5 billion, including master service
agreements, substantially all of which will be performed in the next
18 months.
We expect to continue to enhance profitability and drive efficiencies in
our business in 2001. We are projecting consolidated growth in revenue of
17%-20% and EPS of $2.05 to $2.15. For the quarter ending March 31, 2001, we
anticipate revenue of approximately $325 million and EPS of approximately
$0.35.
SOURCE: COMPANY PRESS RELEASE
