(UNAUDITED)
(in thousands, except share data)
| Three Months Ended | |||||||
| April 2, 2022 | April 3, 2021 | ||||||
| Gross revenues | $ | 190,154 | $ | 153,095 | |||
| Direct costs: | |||||||
| Salaries and wages | 45,977 | 41,459 | |||||
| Sub-consultant services | 34,825 | 23,246 | |||||
| Other direct costs | 15,525 | 9,798 | |||||
| Total direct costs | 96,327 | 74,503 | |||||
| Gross profit | 93,827 | 78,592 | |||||
| Operating expenses: | |||||||
| Salaries and wages, payroll taxes and benefits | 49,767 | 42,951 | |||||
| General and administrative | 16,387 | 11,549 | |||||
| Facilities and facilities related | 5,185 | 5,097 | |||||
| Depreciation and amortization | 9,934 | 9,440 | |||||
| Total operating expenses | 81,273 | 69,037 | |||||
| Income from operations | 12,554 | 9,555 | |||||
| Interest expense | (914 | ) | (2,318 | ) | |||
| Income before income tax expense | 11,640 | 7,237 | |||||
| Income tax expense | (2,998 | ) | (1,757 | ) | |||
| Net income and comprehensive income | $ | 8,642 | $ | 5,480 | |||
| Earnings per share: | |||||||
| Basic | $ | 0.59 | $ | 0.43 | |||
| Diluted | $ | 0.57 | $ | 0.41 | |||
| Weighted average common shares outstanding: | |||||||
| Basic | 14,693,323 | 12,876,822 | |||||
| Diluted | 15,216,105 | 13,429,102 | |||||
NV5 GLOBAL, INC. AND SUBSIDIARIES
