MasTec Sees Future Growth in 1 Gig Fiber Expansion Projects

CORAL GABLES, FL — The expansion of 1 gigabit fiber networks is creating a flood of new bidding opportunities for MasTec, a communications infrastructure construction company, according to its second quarter financial report. New Gigabit expansion projects are expected to position the company for growth while more than compensating for the slowdown it continues to experience in revenue growth of wireless projects.

"We see unprecedented bidding opportunity in multiple markets [including] 1-gigabit fiber expansion," said MasTec CEO Jose R. Mas. "In fact, subsequent to quarter end, we were awarded a contract for approximately a quarter of a billion dollars of 1-gigabit fiber deployment work, which was not included in our second quarter backlog number. In short, we are well positioned for growth in numerous markets throughout North America and expect 2015 to be a strong year for both revenue growth and profit margin expansion."

The company currently estimates fiscal year 2014 revenue of $4.4 to $4.5 billion.