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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 | ||||||||||||||
| June 29, 2024 | July 1, 2023 | June 29, 2024 | July 1, 2023 | ||||||||||||
| Gross revenues | $ | 236,326 | $ | 222,638 | $ | 449,621 | $ | 406,955 | |||||||
| Direct costs: | |||||||||||||||
| Salaries and wages | 61,390 | 57,079 | 117,845 | 105,463 | |||||||||||
| Sub-consultant services | 37,342 | 39,690 | 68,602 | 67,304 | |||||||||||
| Other direct costs | 14,323 | 15,569 | 27,074 | 27,890 | |||||||||||
| Total direct costs | 113,055 | 112,338 | 213,521 | 200,657 | |||||||||||
| Gross profit | 123,271 | 110,300 | 236,100 | 206,298 | |||||||||||
| Operating expenses: | |||||||||||||||
| Salaries and wages, payroll taxes, and benefits | 68,110 | 58,949 | 133,544 | 111,621 | |||||||||||
| General and administrative | 21,178 | 11,551 | 43,420 | 29,472 | |||||||||||
| Facilities and facilities related | 6,035 | 5,823 | 11,996 | 11,197 | |||||||||||
| Depreciation and amortization | 16,068 | 13,539 | 30,550 | 24,585 | |||||||||||
| Total operating expenses | 111,391 | 89,862 | 219,510 | 176,875 | |||||||||||
| Income from operations | 11,880 | 20,438 | 16,590 | 29,423 | |||||||||||
| Interest expense | (4,606 | ) | (3,648 | ) | (8,797 | ) | (5,229 | ) | |||||||
| Income before income tax expense | 7,274 | 16,790 | 7,793 | 24,194 | |||||||||||
| Income tax benefit (expense) | 633 | (1,377 | ) | 522 | (2,834 | ) | |||||||||
| Net income | $ | 7,907 | $ | 15,413 | $ | 8,315 | $ | 21,360 | |||||||
| Earnings per share: | |||||||||||||||
| Basic | $ | 0.51 | $ | 1.03 | $ | 0.54 | $ | 1.43 | |||||||
| Diluted | $ | 0.50 | $ | 1.00 | $ | 0.53 | $ | 1.39 | |||||||
| Weighted average common shares outstanding: | |||||||||||||||
| Basic | 15,362,825 | 15,014,106 | 15,314,988 | 14,948,796 | |||||||||||
| Diluted | 15,671,176 | 15,451,788 | 15,657,632 | 15,421,535 | |||||||||||
| Comprehensive income: | |||||||||||||||
| Net income | $ | 7,907 | $ | 15,413 | $ | 8,315 | $ | 21,360 | |||||||
| Foreign currency translation losses, net of tax | (176 | ) | (191 | ) | (677 | ) | (191 | ) | |||||||
| Comprehensive income | $ | 7,731 | $ | 15,222 | $ | 7,638 | $ | 21,169 | |||||||
