Exhibit 99.1
 
 

NV5 ANNOUNCES RECORD SECOND QUARTER 2019 RESULTS AND INCREASES FULL YEAR REVENUE GUIDANCE
 
Hollywood, FL – August 7, 2019 – 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 second quarter ended June 29, 2019.
 
In the second quarter, Gross Revenues increased 23%, EBITDA increased 20%, and Net Income increased 15%. Our backlog also increased by 43% compared to the second quarter of 2018 and cash flows from operating activities for the six months ended June 29, 2019 increased 61% compared to the six months ended June 30, 2018. “The continued success of NV5 as measured by increased revenue and income, as well as an expanding backlog can be attributed to our focus on being sensitive to our clients’ needs and adding value to their projects. NV5 has made six acquisitions in 2019. We feel these acquisitions will strengthen our existing verticals and provide greater opportunities for organic growth. The successful integration of our acquisitions is an ongoing process that promotes inclusion and shared values along with a team approach to everything we do,” said Dickerson Wright, PE, Chairman and CEO of NV5.
 
Second Quarter 2019 Financial Highlights
Total Revenues for the quarter were $128.9 million, an increase of 23% year-over-year. Gross Revenues - GAAP for the quarter were $128.0 million, an increase of 23% year-over-year.
Net Revenues for the quarter were $99.5 million, an increase of 18% year-over-year.
Organic revenue growth for the quarter was 6% compared to the period ended March 30, 2019.
EBITDA for the quarter was $15.8 million or 16% of Net Revenues, an increase of 20% from $13.2 million, or 16% of Net Revenues in the second quarter of 2018.
Net Income for the quarter was $8.8 million, an increase of 15% compared to $7.6 million in the second quarter of 2018
Adjusted EPS for the quarter was $1.00 per diluted share, an increase of 10% from $0.91 in the second quarter of 2018.
Backlog was $451 million as of June 29, 2019, a 43% increase from $315 million as of June 30, 2018.
Cash and cash equivalents increased 177% to $44.4 million for the quarter compared to $16.0 million in the second quarter of 2018.

Six Months Ended June 29, 2019 Financial Highlights
Total Revenues for the six months ended June 29, 2019 were $247.0 million, an increase of 23% year-over-year. Gross Revenues - GAAP for the six months ended June 29, 2019 were $245.3 million, an increase of 24% year-over-year.
Net Revenues for the six months ended June 29, 2019 were $190.2 million, an increase of 18% year-over-year.
EBITDA for the six months ended June 29, 2019 was $29.4 million or 15% of Net Revenues, an increase of 26% from $23.3 million, or 14% of Net Revenues for the six months ended June 30, 2018.
Net Income for the six months ended June 29, 2019 was $14.3 million, an increase of 20% compared to $11.9 million for the six months ended June 30, 2018.
Adjusted EPS for the six months ended June 29, 2019 was $1.77 per diluted share, an increase of 17% from $1.51 for the six months ended June 30, 2018.
Cash flows from operating activities increased 61% to $17.4 million for the six months ended June 29, 2019 compared to $10.8 million for the six months ended June 30, 2018.



The following information was filed by Nv5 Global, Inc. (NVEE) on Wednesday, August 7, 2019 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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