NV5 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
(in thousands, except share data)
Three Months Ended | Six Months Ended | ||||||||||||||
June 27, 2020 | June 29, 2019 | June 27, 2020 | June 29, 2019 | ||||||||||||
Gross revenues | $ | 162,689 | $ | 127,974 | $ | 328,169 | $ | 245,309 | |||||||
Direct costs: | |||||||||||||||
Salaries and wages | 45,079 | 38,080 | 90,114 | 73,337 | |||||||||||
Sub-consultant services | 25,244 | 20,044 | 52,670 | 36,996 | |||||||||||
Other direct costs | 8,914 | 8,410 | 17,402 | 18,106 | |||||||||||
Total direct costs | 79,237 | 66,534 | 160,186 | 128,439 | |||||||||||
Gross Profit | 83,452 | 61,440 | 167,983 | 116,870 | |||||||||||
Operating Expenses: | |||||||||||||||
Salaries and wages, payroll taxes and benefits | 44,149 | 30,765 | 89,706 | 60,004 | |||||||||||
General and administrative | 11,824 | 10,896 | 24,980 | 19,758 | |||||||||||
Facilities and facilities related | 5,357 | 3,937 | 10,754 | 7,743 | |||||||||||
Depreciation and amortization | 11,160 | 6,245 | 22,200 | 12,357 | |||||||||||
Total operating expenses | 72,490 | 51,843 | 147,640 | 99,862 | |||||||||||
Income from operations | 10,962 | 9,597 | 20,343 | 17,008 | |||||||||||
Interest expense | (4,403 | ) | (457 | ) | (8,190 | ) | (808 | ) | |||||||
Income before income tax expense | 6,559 | 9,140 | 12,153 | 16,200 | |||||||||||
Income tax expense | (2,056 | ) | (346 | ) | (3,462 | ) | (1,863 | ) | |||||||
Net Income and Comprehensive Income | $ | 4,503 | $ | 8,794 | $ | 8,691 | $ | 14,337 | |||||||
Earnings per share: | |||||||||||||||
Basic | $ | 0.37 | $ | 0.73 | $ | 0.71 | $ | 1.19 | |||||||
Diluted | $ | 0.36 | $ | 0.70 | $ | 0.69 | $ | 1.15 | |||||||
Weighted average common shares outstanding: | |||||||||||||||
Basic | 12,308,965 | 12,106,066 | 12,271,221 | 12,033,906 | |||||||||||
Diluted | 12,609,918 | 12,521,463 | 12,601,830 | 12,447,248 |