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 2, 2022 | July 3, 2021 | July 2, 2022 | July 3, 2021 | ||||||||||||
| Gross revenues | $ | 202,732 | $ | 179,503 | $ | 392,885 | $ | 332,598 | |||||||
| Direct costs: | |||||||||||||||
| Salaries and wages | 47,704 | 45,025 | 93,681 | 86,485 | |||||||||||
| Sub-consultant services | 40,479 | 29,978 | 75,305 | 53,225 | |||||||||||
| Other direct costs | 15,309 | 13,114 | 30,833 | 22,912 | |||||||||||
| Total direct costs | 103,492 | 88,117 | 199,819 | 162,622 | |||||||||||
| Gross profit | 99,240 | 91,386 | 193,066 | 169,976 | |||||||||||
| Operating expenses: | |||||||||||||||
| Salaries and wages, payroll taxes and benefits | 47,283 | 44,213 | 97,049 | 87,164 | |||||||||||
| General and administrative | 14,494 | 13,367 | 30,881 | 24,915 | |||||||||||
| Facilities and facilities related | 5,195 | 5,038 | 10,381 | 10,135 | |||||||||||
| Depreciation and amortization | 9,668 | 10,216 | 19,602 | 19,656 | |||||||||||
| Total operating expenses | 76,640 | 72,834 | 157,913 | 141,870 | |||||||||||
| Income from operations | 22,600 | 18,552 | 35,153 | 28,106 | |||||||||||
| Interest expense | (887 | ) | (1,568 | ) | (1,801 | ) | (3,886 | ) | |||||||
| Income before income tax expense | 21,713 | 16,984 | 33,352 | 24,220 | |||||||||||
| Income tax expense | (4,445 | ) | (3,346 | ) | (7,442 | ) | (5,102 | ) | |||||||
| Net income and comprehensive income | $ | 17,268 | $ | 13,638 | $ | 25,910 | $ | 19,118 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 1.17 | $ | 0.95 | $ | 1.76 | $ | 1.40 | |||||||
| Diluted | $ | 1.13 | $ | 0.91 | $ | 1.70 | $ | 1.35 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 14,736,167 | 14,419,671 | 14,714,745 | 13,648,247 | |||||||||||
| Diluted | 15,232,157 | 14,965,188 | 15,211,835 | 14,196,035 | |||||||||||
