NV5 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
(in thousands, except share data)
| Three Months Ended | Nine Months Ended | ||||||||||||||
| October 2, 2021 | October 3, 2020 | October 2, 2021 | October 3, 2020 | ||||||||||||
| Gross revenues | $ | 185,553 | $ | 169,949 | $ | 518,151 | $ | 498,118 | |||||||
| Direct costs: | |||||||||||||||
| Salaries and wages | 45,145 | 46,815 | 131,630 | 136,929 | |||||||||||
| Sub-consultant services | 35,779 | 26,003 | 89,003 | 78,673 | |||||||||||
| Other direct costs | 12,802 | 10,370 | 35,714 | 27,771 | |||||||||||
| Total direct costs | 93,726 | 83,188 | 256,347 | 243,373 | |||||||||||
| Gross profit | 91,827 | 86,761 | 261,804 | 254,745 | |||||||||||
| Operating expenses: | |||||||||||||||
| Salaries and wages, payroll taxes and benefits | 44,597 | 43,750 | 131,761 | 133,456 | |||||||||||
| General and administrative | 12,978 | 13,216 | 37,891 | 38,196 | |||||||||||
| Facilities and facilities related | 5,194 | 5,370 | 15,330 | 16,125 | |||||||||||
| Depreciation and amortization | 10,108 | 10,187 | 29,764 | 32,387 | |||||||||||
| Total operating expenses | 72,877 | 72,523 | 214,746 | 220,164 | |||||||||||
| Income from operations | 18,950 | 14,238 | 47,058 | 34,581 | |||||||||||
| Interest expense | (1,475 | ) | (3,731 | ) | (5,362 | ) | (11,921 | ) | |||||||
| Income before income tax expense | 17,475 | 10,507 | 41,696 | 22,660 | |||||||||||
| Income tax expense | (4,902 | ) | (2,753 | ) | (10,005 | ) | (6,215 | ) | |||||||
| Net income and comprehensive income | $ | 12,573 | $ | 7,754 | $ | 31,691 | $ | 16,445 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 0.86 | $ | 0.62 | $ | 2.27 | $ | 1.33 | |||||||
| Diluted | $ | 0.83 | $ | 0.61 | $ | 2.19 | $ | 1.30 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 14,593,623 | 12,434,600 | 13,963,372 | 12,328,448 | |||||||||||
| Diluted | 15,069,660 | 12,749,917 | 14,486,683 | 12,650,107 | |||||||||||
