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 | ||||||||||||||
| July 3, 2021 | June 27, 2020 | July 3, 2021 | June 27, 2020 | ||||||||||||
| Gross revenues | $ | 179,503 | $ | 162,689 | $ | 332,598 | $ | 328,169 | |||||||
| Direct costs: | |||||||||||||||
| Salaries and wages | 45,025 | 45,079 | 86,485 | 90,114 | |||||||||||
| Sub-consultant services | 29,978 | 25,244 | 53,225 | 52,670 | |||||||||||
| Other direct costs | 13,114 | 8,914 | 22,912 | 17,402 | |||||||||||
| Total direct costs | 88,117 | 79,237 | 162,622 | 160,186 | |||||||||||
| Gross profit | 91,386 | 83,452 | 169,976 | 167,983 | |||||||||||
| Operating expenses: | |||||||||||||||
| Salaries and wages, payroll taxes and benefits | 44,213 | 44,149 | 87,164 | 89,706 | |||||||||||
| General and administrative | 13,367 | 11,824 | 24,915 | 24,980 | |||||||||||
| Facilities and facilities related | 5,038 | 5,357 | 10,135 | 10,754 | |||||||||||
| Depreciation and amortization | 10,216 | 11,160 | 19,656 | 22,200 | |||||||||||
| Total operating expenses | 72,834 | 72,490 | 141,870 | 147,640 | |||||||||||
| Income from operations | 18,552 | 10,962 | 28,106 | 20,343 | |||||||||||
| Interest expense | (1,568 | ) | (4,403 | ) | (3,886 | ) | (8,190 | ) | |||||||
| Income before income tax expense | 16,984 | 6,559 | 24,220 | 12,153 | |||||||||||
| Income tax expense | (3,346 | ) | (2,056 | ) | (5,102 | ) | (3,462 | ) | |||||||
| Net income and comprehensive income | $ | 13,638 | $ | 4,503 | $ | 19,118 | $ | 8,691 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 0.95 | $ | 0.37 | $ | 1.40 | $ | 0.71 | |||||||
| Diluted | $ | 0.91 | $ | 0.36 | $ | 1.35 | $ | 0.69 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 14,419,671 | 12,308,965 | 13,648,247 | 12,271,221 | |||||||||||
| Diluted | 14,965,188 | 12,609,918 | 14,196,035 | 12,601,830 | |||||||||||
