Exhibit 99.1

 

 

NV5 ANNOUNCES STRONG THIRD QUARTER 2018 RESULTS

AND RAISES 2018 GUIDANCE

 

Hollywood, FL – November 7, 2018 – NV5 Global, Inc. (Nasdaq: NVEE) (“NV5” or the “Company”)

, a provider of professional and technical engineering and consulting solutions, today reported financial results for the third quarter ended September 29, 2018.

 

Third Quarter 2018 Financial Highlights

 

 

Total Revenues for the quarter were $105.5 million, an increase of 14% year-over-year. Gross Revenues – GAAP for the quarter were $104.2 million, an increase of 14% year-over-year.

 

Net Revenues for the quarter were $84.4 million, an increase of 13% year-over-year.

 

Organic growth for the quarter was 8%, an increase of 100% compared to the third quarter of 2017.

 

EBITDA for the quarter was $14.0 million, or 17% of Net Revenues, an increase of 10% from $12.7 million or 17% of Net Revenues in the third quarter of 2017.

 

Net income for the quarter was $7.3 million, an increase of 23% from $5.9 million in the third quarter of 2017.

 

Adjusted EPS for the quarter was $0.82 per diluted share, an increase of 9% from $0.75 per diluted share in the third quarter of 2017.

 

GAAP EPS for the quarter was $0.62 per diluted share over 11.7 million shares, an increase of 13% from $0.55 per diluted share over 10.8 million shares in the third quarter of 2017.

 

Backlog was $342.3 million as of September 29, 2018 compared to $274.5 million as of September 30, 2017.

 

“We are pleased to announce another quarter of strong continued organic growth in revenues and earnings in the third quarter of 2018,” said Dickerson Wright, PE, Chairman and CEO of NV5. “We once again saw growth in all of our service verticals, and we are enthusiastic about the strategic investments we are making to further grow our infrastructure and energy business throughout the United States. The flat and dynamic organization we have in place allows us to provide maximum support and the highest level of service to our clients, and we are grateful to our employees and shareholders who continue to contribute to NV5’s success.”

 

Operating Results

 

Total Revenues for the third quarter of 2018 were $105.5 million, an increase of 14% from the third quarter of 2017. Total Revenues include intercompany revenues where the Company performed the services in lieu of using a third-party sub-consultant. Gross Revenues - GAAP for the third quarter of 2018 were $104.2 million, a 14% increase from the third quarter of 2017. Net Revenues for the third quarter of 2018 were $84.4 million, an increase of 13% from the third quarter of 2017.

 

1

The following information was filed by Nv5 Global, Inc. (NVEE) on Wednesday, November 7, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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