MasTec seeks projects with healthy margins, and net income jumps

CORAL GABLES, Fla. – Telecom and cable contractor MasTec Monday reported net income of US$7.7 million for the quarter ended September 30th, an increase of 85% compared to Q3 2004 on revenue of US$243.5 million, which was a dip of 1.25%. "We are pleased with our continued margin improvement, and we expect the upward trend to continue,” said Austin Shanfelter, president and CEO, in a press release. “We have been disciplined in the quarter to accept new projects only when appropriate margins are available. As our core businesses continue to expand, margin will be our number one focus." At quarter’s-end,...