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MasTec, Inc.
MasTec Reports Dramatically Higher Earnings, Record Revenue and Increased 2008 Earnings Guidance
November 23rd, 2008
MasTec, Inc. (NYSE: MTZ) announced that third quarter earnings increased 94% while revenue was at all-time record levels and up 49% from last year. Revenue for the quarter ended September 30th was $398 million compared to $267 million a year ago. Third quarter net income was $24.1 million, or $0.35 earnings per diluted share, compared to pro forma income from continuing operations of $12.4 million, or $0.18 earnings per diluted share, a year ago. Third quarter 2007 pro forma income from continuing operations excludes a $39.1 million charge for various legacy legal cases, claims and other disputes. Jose R. Mas, MasTec's President and Chief Executive Officer, commented,...
Source: Pharma Investments, Ventures & Law Weekly (2008-11-23)
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