NV5 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF NET INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
(in thousands, except share data)
| Three Months Ended | Twelve Months Ended | ||||||||||||||
| January 1, 2022 | January 2, 2021 | January 1, 2022 | January 2, 2021 | ||||||||||||
| Gross revenues | $ | 188,555 | $ | 161,178 | $ | 706,706 | $ | 659,296 | |||||||
| Direct costs: | |||||||||||||||
| Salaries and wages | 43,417 | 39,936 | 175,047 | 176,865 | |||||||||||
| Sub-consultant services | 35,995 | 28,929 | 124,998 | 107,602 | |||||||||||
| Other direct costs | 11,633 | 12,519 | 47,347 | 40,291 | |||||||||||
| Total direct costs | 91,045 | 81,384 | 347,392 | 324,758 | |||||||||||
| Gross profit | 97,510 | 79,794 | 359,314 | 334,538 | |||||||||||
| Operating expenses: | |||||||||||||||
| Salaries and wages, payroll taxes and benefits | 45,077 | 43,360 | 176,838 | 176,816 | |||||||||||
| General and administrative | 16,095 | 12,019 | 53,986 | 50,214 | |||||||||||
| Facilities and facilities related | 4,863 | 5,155 | 20,193 | 21,280 | |||||||||||
| Depreciation and amortization | 10,189 | 9,691 | 39,953 | 42,079 | |||||||||||
| Total operating expenses | 76,224 | 70,225 | 290,970 | 290,389 | |||||||||||
| Income from operations | 21,286 | 9,569 | 68,344 | 44,149 | |||||||||||
| Interest expense | (878 | ) | (3,260 | ) | (6,239 | ) | (15,181 | ) | |||||||
| Income before income tax expense | 20,408 | 6,309 | 62,105 | 28,968 | |||||||||||
| Income tax expense | (4,953 | ) | (1,735 | ) | (14,958 | ) | (7,950 | ) | |||||||
| Net income and comprehensive income | $ | 15,455 | $ | 4,574 | $ | 47,147 | $ | 21,018 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 1.05 | $ | 0.37 | $ | 3.34 | $ | 1.70 | |||||||
| Diluted | $ | 1.02 | $ | 0.35 | $ | 3.22 | $ | 1.65 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 14,651,218 | 12,468,444 | 14,135,333 | 12,362,786 | |||||||||||
| Diluted | 15,159,314 | 12,922,121 | 14,656,381 | 12,713,075 | |||||||||||
