GROWTH DRIVERS
	MASTEC INC
	MTZ			Annual Income Statement Short								Quarterly Income Statement
			Dec-02	Dec-01	Dec-00	Dec-99	Dec-98				Jun-03	Mar-03	Dec-02	Sep-02	Jun-02	Mar-02	Dec-01	Sep-01	Jun-01
	Revenues		838.0	1,222.6	1,330.3	1,059.0	1,048.9		Revenues		209.1	180.6	189.5	231.8	213.0	203.8	252.9	302.2	330.2
	Gross Margin		6.8%	14.1%	18.7%	18.9%	19.3%		Gross Margin		12.6%	10.7%	-11.0%	11.6%	10.1%	14.3%	13.8%	13.3%	12.5%
	Operating Income		-79.7	-138.6	132.2	81.2	32.4		Operating Income		5.1	-3.3	-82.5	3.0	-2.3	2.1	-33.9	-107.6	-0.2
	Net Income		-128.80	-92.35	65.14	44.72	-13.91		Net Income		2.77	-1.59	-108.53	2.36	1.80	-24.44	-18.25	-75.24	1.72
	EPS - Diluted		-2.69	-1.92	1.35	1.08	-0.27		EPS - Diluted		0.06	-0.03	-2.26	0.05	0.04	-0.51	-0.38	-1.57	0.04
	EBITDA		-24.5	-55.7	213.9	164.0	105.3		EBITDA		17.9	9.9	-68.4	16.0	10.8	17.1	-13.3	-87.6	21.3
	Free Cash Flow		-111.8	-73.8	76.0	31.4	-47.0		Free Cash Flow		8.2	4.8	-103.3	5.5	4.6	-20.7	-13.1	-71.3	3.1
	Long Term Debt		197.4	267.9	206.2	267.5	310.7		Long Term Debt		197.1	197.2	197.4	197.3	196.9	197.2	267.9	199.1	199.3
	Cash		8.7	48.5	18.5	27.6	19.9		Cash		4.2	15.1	8.7	11.5	9.2	14.7	48.5	22.0	15.0
	Working Capital		144.8	248.1	233.9	235.4	244.5		Working Capital		165.1	148.7	144.8	208.3	206.3	198.2	248.1	197.4	187.3
	DSO		79.57	74.12	104.59	85.52	97.67		DSO		90.00	89.73	87.98	90.32	96.42	99.61	89.57	99.93	96.49
	Inventory Turns		31.40	38.47	51.83	56.32	59.84		Inventory Turns		6.54	6.19	8.47	6.03	5.89	4.81	7.89	10.33	12.72
	Cash Cycle		63.76	61.25	88.32	66.62	74.73		Cash Cycle		76.52	73.70	68.45	76.43	82.80	92.23	74.11	81.27	80.18
				Annual Percent Annual Change								Quarterly Percent Annual Change
			Dec-02	Dec-01	Dec-00	Dec-99	Dec-98				Jun-03	Mar-03	Dec-02	Sep-02	Jun-02	Mar-02	Dec-01	Sep-01	Jun-01
	Revenues		-31.5%	-8.1%	25.6%	1.0%	49.1%		Revenues		-1.8%	-11.4%	-25.1%	-23.3%	-35.5%	-39.6%	-33.0%	-20.9%	10.9%
	Gross Profit		-66.9%	-31.0%	24.6%	-1.3%	29.2%		Gross Profit		22.2%	-34.0%	-159.7%	-33.0%	-47.6%	-47.5%	-51.8%	-44.9%	-27.7%
	Operating Income		-42.5%	-204.9%	62.8%	150.4%	-39.8%		Operating Income		-323.0%	-256.5%	143.3%	-102.8%	1177.8%	-31.0%	-183.1%	-352.5%	-100.6%
	Net Income		39.5%	-241.8%	45.7%	-421.5%	-132.6%		Net Income		53.8%	-93.5%	494.8%	-103.1%	4.6%	-841.2%	-352.1%	-399.9%	-91.9%
	EPS - Diluted		40.1%	-242.2%	25.0%	-495.2%	-128.5%		EPS - Diluted		50.0%	-94.1%	494.7%	-103.2%	0.0%	-828.6%	-353.3%	-396.2%	-90.9%
	EBITDA		-56.0%	-126.0%	30.4%	55.7%	17.2%		EBITDA		66.5%	-42.3%	412.4%	-118.2%	-49.5%	-28.5%	-122.5%	-238.8%	-58.1%
	Free Cash Flow		51.6%	-197.1%	142.2%	-166.7%	#DIV/0!		Free Cash Flow		79.4%	-123.4%	691.6%	-107.7%	49.0%	-428.8%	-239.3%	-363.0%	-86.4%
	Long Term Debt		-26.3%	29.9%	-22.9%	-13.9%	228.8%		Long Term Debt		0.1%	0.0%	-26.3%	-0.9%	-1.2%	-19.2%	29.9%	-0.7%	-0.1%
	Cash		-82.0%	162.7%	-33.2%	39.1%	227.6%		Cash		-54.0%	2.9%	-82.0%	-47.8%	-38.7%	0.4%	162.7%	-58.7%	-82.4%
	Working Capital		-41.6%	6.1%	-0.6%	-3.7%	97.6%		Working Capital		-20.0%	-25.0%	-41.6%	5.5%	10.2%	-24.2%	6.1%	-22.8%	-38.5%