NV5 Announces Excellent First Quarter 2018 Results and Raises 2018 Guidance
HOLLYWOOD, Fla., May 03, 2018 (GLOBE NEWSWIRE) -- NV5 Global, Inc.(Nasdaq:NVEE) (“NV5” or the “Company”), a provider of professional and technical engineering and consulting solutions, today reported financial results for the first quarter ended March 31, 2018.
First Quarter 2018 Financial Highlights
Total Revenues for the quarter were $95.5 million, an increase of 47% year-over-year. Gross Revenues – GAAP for the quarter were $94.5 million, an increase of 48% year-over-year.
Net Revenues for the quarter were $77.2 million, an increase of 45% year-over-year.
Organic growth for the quarter was 10%, an increase of 67% compared to the first quarter of 2017.
EBITDA for the quarter was $10.1 million, or 13% of Net Revenues, an increase of 101% from $5.0 million, or 9% of Net Revenues in the first quarter of 2017.
Net income for the quarter was $4.3 million, an 89% increase from $2.3 million for the first quarter of 2017.
Adjusted EPS for the quarter was $0.59 per diluted share, an increase of 51% from $0.39 per diluted share in the first quarter of 2017.
GAAP EPS for the quarter was $0.39 per diluted share over 10.9 million shares, an increase of 86% from $0.21 per diluted share over 10.7 million shares in the first quarter of 2017.
Backlog was $309 million as of March 31, 2018 compared to $225 million as of April 1, 2017.
NV5 Announces Excellent First Quarter 2018 Results and Raises 2018 Guidance | NV5 Global, Inc.
