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Concentrations Of Risk
9 Months Ended
Sep. 30, 2011
Concentrations Of Risk 
Concentrations Of Risk

Note 15 – Concentrations of Risk

The Company had approximately 360 customers as of September 30, 2011, which included some of the largest and most prominent companies in the communications, utilities and government industries. MasTec's customers include public and private energy providers, pipeline operators, wireless service providers, satellite and broadband operators, local and long distance carriers and government entities. The industries served by MasTec's customers include, among others: utilities (including electrical utility transmission and distribution; natural gas and petroleum pipeline infrastructure; wind farms, solar farms and other renewable energy and industrial infrastructure), communications (including wireless, wireline and satellite communications) and government (including water, sewer and other utility and communications work on military bases).

Revenues for customers by industry for the periods indicated are as follows (in millions):

 

     Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
     2011     2010     2011     2010  

Communications

    $ 477.0         55 %    $ 348.9         55 %    $ 1,215.9         55 %    $ 855.1         54 % 

Utilities

      376.1         44 %      272.0         43 %      987.3         44 %      688.5         44 % 

Government

      12.2         1 %      11.0         2 %      31.5         1 %      33.7         2 % 
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  
   $ 865.3         100 %    $ 631.9         100 %    $ 2,234.7         100 %    $ 1,577.3         100 % 
  

 

 

       

 

 

       

 

 

       

 

 

     

 

Revenue concentration information, as a percent of total consolidated revenue, is as follows:

 

     Three Months  Ended
September 30,		     Nine Months  Ended
September 30,		  
     2011     2010     2011     2010  

Revenue from top ten customers

      73 %      74 %      73 %      73 % 

Revenue from specific customers:

         

DIRECTV®

      25 %      25 %      23 %      26 % 

AT&T

     22 %      22 %      24 %      19 % 

In addition, the Company derived 11% of its revenues for the nine months ended September 30, 2011 from El Paso Corporation.

Foreign Operations. In April 2011, the Company expanded its foreign operations through its acquisition of Fabcor, a Canadian natural gas and petroleum pipeline infrastructure construction company. See Note 3 – Acquisitions and Other Investments for details of the Fabcor acquisition. For the three months ended September 30, 2011 and 2010, revenues of $38.5 million and $1.1 million, respectively, and for the nine months ended September 30, 2011 and 2010, revenues of $61.1 million and $3.4 million, respectively, were derived from foreign operations, the majority of which were earned in Canada, Latin America and the Caribbean. In addition, the Company held property and equipment in foreign countries of $12.5 million and $1.4 million as of September 30, 2011 and December 31, 2010, respectively.