NV5 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
(in thousands, except share data)
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| January 2, 2021 | December 28, 2019 | January 2, 2021 | December 28, 2019 | ||||||||||||
| Gross revenues | $ | 161,178 | $ | 132,598 | $ | 659,296 | $ | 508,938 | |||||||
| Direct costs: | |||||||||||||||
| Salaries and wages | 39,936 | 39,261 | 176,865 | 153,023 | |||||||||||
| Sub-consultant services | 28,929 | 22,629 | 107,602 | 79,598 | |||||||||||
| Other direct costs | 12,519 | 5,690 | 40,291 | 30,935 | |||||||||||
| Total direct costs | 81,384 | 67,581 | 324,758 | 263,556 | |||||||||||
| Gross Profit | 79,794 | 65,017 | 334,538 | 245,382 | |||||||||||
| Operating Expenses: | |||||||||||||||
| Salaries and wages, payroll taxes and benefits | 43,360 | 35,126 | 176,816 | 128,558 | |||||||||||
| General and administrative | 12,019 | 11,871 | 50,214 | 42,656 | |||||||||||
| Facilities and facilities related | 5,155 | 4,737 | 21,280 | 17,145 | |||||||||||
| Depreciation and amortization | 9,691 | 6,908 | 42,079 | 25,816 | |||||||||||
| Total operating expenses | 70,225 | 58,643 | 290,389 | 214,175 | |||||||||||
| Income from operations | 9,569 | 6,374 | 44,149 | 31,207 | |||||||||||
| Interest expense | (3,260 | ) | (1,045 | ) | (15,181 | ) | (2,275 | ) | |||||||
| Income before income tax expense | 6,309 | 5,329 | 28,968 | 28,932 | |||||||||||
| Income tax expense | (1,735 | ) | (1,754 | ) | (7,950 | ) | (5,176 | ) | |||||||
| Net Income and Comprehensive Income | $ | 4,574 | $ | 3,575 | $ | 21,018 | $ | 23,756 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 0.37 | $ | 0.29 | $ | 1.70 | $ | 1.96 | |||||||
| Diluted | $ | 0.35 | $ | 0.28 | $ | 1.65 | $ | 1.90 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 12,468,444 | 12,204,650 | 12,362,786 | 12,116,185 | |||||||||||
| Diluted | 12,922,121 | 12,589,800 | 12,713,075 | 12,513,034 | |||||||||||
