PRESS RELEASE
Published on December 5, 2005
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Exhibit 99.1
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PRESS RELEASE |
FOR IMMEDIATE RELEASE
05-18
05-18
Contacts:
|
James Haddox, CFO | Ken Dennard / ksdennard@drg-e.com | ||
Reba Reid | Lisa Elliott / lelliott@drg-e.com | |||
Quanta Services, Inc. | DRG&E | |||
713-629-7600 | 713-529-6600 |
QUANTA SERVICES UPDATES COMPANY PROFILE
HOUSTON
December 5, 2005 Quanta Services, Inc. (NYSE: PWR) today announced that it has updated
its Company Profile document, which includes discussion of Quantas performance, goals and
strategies, operations, industry information and peer analysis, historical financial information,
recent results and guidance, and corporate governance information, among other topics. The
Company Profile can be found on the companys
website at www.quantaservices.com and will be
furnished on Form 8-K to the Securities and Exchange Commission.
The Company Profile is being published and updated by Quanta to provide more disclosure and
transparency to the investment community regarding Quantas operations, goals, industry dynamics
and conditions.
Quanta Services, Inc. is a leading provider of specialized contracting services, delivering
end-to-end network solutions for the electric power, gas, telecommunications and cable
television industries. The companys comprehensive services include designing, installing,
repairing and maintaining network infrastructure nationwide.
This press release contains forward-looking statements intended to qualify for the safe
harbor from liability established by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include, but are not limited to, statements relating to projected
revenues and earnings per share and other financial and operating results, capital expenditures,
growth in particular markets, strategies, expectations, intentions, plans, future events,
performance, underlying assumptions, and other statements that do not relate strictly to historical
or current facts. Although Quantas management believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such expectations will
prove to have been correct. These statements can be affected by inaccurate assumptions and by a
variety of risks and uncertainties, including, among others, quarterly variations in operating
results due to seasonality and adverse weather conditions; adverse changes in economic conditions
in relevant markets; the ability to effectively compete for market share; beliefs and assumptions
about the collectibility of receivables; the inability of customers to pay for services; the
financial distress of Quantas casualty insurance carrier that may require payment for losses that
would otherwise be insured; liabilities for claims that are self-insured or for claims that
Quantas casualty insurance carrier fails to pay; potential liabilities relating to occupational
health and safety matters; estimates relating to the use of percentage-of-completion accounting;
dependence on fixed price contracts; rapid technological and structural changes that could reduce
the demand for services; the ability to obtain performance bonds; cancellation provisions within
contracts; the replacement of contracts as they are completed or expire; the ability to effectively
integrate the operations of subsidiaries; retention of key personnel and qualified employees; the
impact of a unionized workforce on operations and the ability to complete future acquisitions;
growth outpacing infrastructure; potential exposure to environmental liabilities; requirements
relating to governmental regulation; the ability to meet the requirements of the Sarbanes-Oxley Act
of 2002; the cost of borrowing, availability of credit, debt covenant compliance and other factors
affecting financing activities; the ability to generate internal growth; and the adverse impact of
goodwill impairments. Should one or more of these risks materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those expressed or implied in
any forward-looking statements. You are cautioned not to place undue reliance on these
forward-looking statements, which are current only as of this date. Quanta disclaims any intention
or obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. For a discussion of these risks, uncertainties and
assumptions, investors are urged to refer to Quantas reports filed with the Securities and
Exchange Commission.
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