Nv5 Global, Inc. (NASDAQ:NVEE)

HOLLYWOOD, FL--(Marketwired - May 18, 2016) - NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has signed a definitive agreement to acquire Dade Moeller & Associates, Inc. (Dade Moeller), a Richland, Washington-based environmental health and safety firm with annualized revenues of approximately $25 million. The acquisition will be made through a combination of cash and stock and is expected to be immediately accretive to NV5's earnings.

Dade Moeller specializes in the provision of radiation exposure and protection services as well as nuclear safety and industrial hygiene analyses, a discipline in which the Company has built a significant federal government client base. Dade Moeller's 150 professionals include Certified Health Physicists, Certified Industrial Hygienists, Certified Safety Professionals and Professional Engineers and are based primarily in Washington, Maryland, Tennessee, and Nevada, although Dade Moeller also maintains project offices in Ohio and Louisiana.

Dickerson Wright, Chairman and CEO of NV5, said, "Dade Moeller will become NV5's platform organization in our Environmental Health and Safety business line. We could not be more pleased to begin working with their accomplished team, which we believe will be instrumental to NV5's growth, particularly in the federal and energy sectors. Dade Moeller has been under contract with the U.S. Department of Energy at the Hanford, Washington site since 1994, where NV5 is currently doing construction quality assurance work. Dade Moeller also has had multi-year involvement in the assessment of damage that resulted from the Deepwater Horizon oil spill in the Gulf. Other significant assignments include state compensation for worker radiation exposure, long-term assignments at the Tennessee Valley Authority nuclear research site, and radiation exposure protection assignments at national sporting events and concerts." 

"We are proud to be joining NV5 and excited to create new opportunities for the team and our employees going forward," said Matt Moeller, a certified health physicist and CEO of Dade Moeller. "NV5 shares our vision of 'protecting people and the environment' and values our services supporting high-hazard and other challenging projects across the country. We look forward to introducing our many clients, teaming partners, and professional colleagues to the full range of our new company's capabilities and, similarly, introducing our new NV5 teammates to our people and skills. We believe the distinct client profiles of NV5 and of Dade Moeller will complement our combined organization. We are indeed enthusiastic to start this new chapter in our collective success stories."

NVEE ($24.19) reported the first quarter 2016 financial results:

• Revenues were $45.9 million vs $29.4 million in the same period last year, an increase of 56% year over year. Missed analyst estimate by $1.7 million.

• Adjusted EPS was $0.32 vs $0.23 in the same period last year, an increase of 39%. Beat analyst estimate by $0.03.

• The company reiterates its full-year 2016 guidance revenue range from $220 million to $230 million and adjusted EPS range from $1.67 to $1.81.

Management commentary:

"Q1 2016 was a very successful quarter for NV5," said Dickerson Wright, PE, Chairman and CEO of NV5. "We grew our gross profit by 16% from 44% to 51%. We are very encouraged by this result because the winter quarter is usually the slowest in our industry."

Fourth Quarter 2015 Results

• Sales of $42.3 million vs $28.7 million in the prior year
• Non Gaap EPS of $0.41 vs $0.30 in the prior year period

Quotes from release:

"We experienced a transformative year at NV5 characterized chiefly by margin growth from cross-selling and synergy among our five service verticals and strategic growth from four key acquisitions we completed in 2015," said Dickerson Wright, PE, Chairman and CEO of NV5. "We posted another set of record financial results for the fourth quarter of 2015. Our organic growth of 9% for the full year 2015 far exceeded our industry's standard. However, a downturn in our natural gas pipeline services business, while it represents less than 10% of total revenues, resulted in organic growth of 3% for the quarter. We anticipate organic growth for the full year of 2016 to be similar to organic growth for the full year of 2015."

2016 Outlook

The Company's guidance for full-year 2016 Total Revenues, including the impact of acquisitions closed through February 29, 2016, ranges from $220 million to $230 million, which represents an increase of 41% to 48% from 2015 Total Revenues of $155.9 million. The Company expects that full-year 2016 GAAP EPS will range from $1.40 per share to $1.54 per share. Furthermore, the Company expects that full-year 2016 Adjusted EPS will range from $1.67 per share to $1.81 per share. This guidance for Total Revenues, GAAP EPS and Adjusted EPS excludes anticipated acquisitions for the remainder of 2016.

HOLLYWOOD, FL--(Marketwired - Feb 2, 2016) - NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has acquired Sebesta, Inc. (Sebesta), a St. Paul, Minnesota-based mechanical, electrical and plumbing (MEP) engineering and energy management company with annualized revenues of $35 million. Primary clients include federal and state governments, power and utility companies, and major educational, healthcare, industrial and commercial property owners throughout the United States. Sebesta's staff numbers 175 and operates from 12 offices in the Midwest, Texas, Mid-Atlantic and Northeast. The acquisition was made entirely in cash from internal sources without using debt and will be immediately accretive to NV5's earnings.

"With the acquisition of Sebesta, we are creating value for our shareholders and diversifying our company: we are establishing a very scalable platform for growth for our energy service vertical, we are bringing NV5 into new geographical areas, and we are introducing NV5 to Sebesta's blue chip clients. We are especially pleased that we will be doing business with an impressive federal client base to which the barriers to entry are very high and where we know there will be significant opportunities for synergy and cross-selling among our other service verticals," said Dickerson Wright, P.E., Chairman and CEO of NV5. "NV5 already has the capabilities to do much of the work Sebesta's professionals were previously subcontracting to other infrastructure, program management, and architecture firms, and so in this way, we know we will be able to expand the exceptionally high-quality services Sebesta's experts have been providing to their clients for the last twenty

Rob Costello, President and CEO of Sebesta commented, "We feel Sebesta is poised for growth, and that is the primary reason why we are joining forces with NV5. We bring seasoned management and staff along with an impeccable reputation for serving our clients. We look forward to NV5's support and collaboration in order to realize the potential upside the combination of our two companies represents. We see tremendous opportunities for cross-marketing with NV5's other business lines. And, as we introduce our services to the NV5 offices in the West and Southeast, this will greatly enhance NV5's overall market presence in energy-related technical services."

Third Quarter 2015 Results

• Sales of $48.7 million vs $31.4 million in the prior year period
• EPS of $0.38 vs $0.31 in the prior year period

Quotes from release:

"We had a great third quarter lead by our management team and the technical experts in our service verticals. Through our operating strategy and vision for organic and strategic growth, we are always looking for new opportunities to provide the best quality of service to our existing clients, and to bring in new clients and win new projects based on that reputation. The fact that NV5 has consistently increased earnings per share for our investors over a larger number of shares cannot be overemphasized," said Dickerson Wright, PE, Chairman and CEO of NV5.

2015 Outlook

The Company is raising its guidance for full-year 2015 gross revenues and diluted earnings per share. The Company expects full-year 2015 gross revenues, including the impact of acquisitions closed through October 31, 2015, to range from $155 million to $162 million, which represents an increase to 50% from 2014 gross revenues of $108.4 million. The Company further expects that full-year 2015 diluted earnings per share will range from $1.09 per share to $1.19 per share, representing an increase to 37% over diluted earnings per share of $0.87 for the full-year 2014. Included in the guidance for diluted earnings per share, is the impact by the addition of 1,644,500 shares issued from our secondary offering on May 28, 2015. Furthermore, this guidance for gross revenues and diluted earnings per share excludes anticipated acquisitions for the remainder of 2015.

HOLLYWOOD, FL--(Marketwired - Aug 28, 2015) - NV5 Holdings, Inc. (the "Company") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it was recently awarded a contract for more than $10 million for the siting and design of right-of-way green infrastructure practices throughout 1,561 acres of Bayside, Queens, New York. The contract was won by the infrastructure and environmental services team at The RBA Group and is one of several green infrastructure projects awarded to RBA under the city-wide NYCDEP green infrastructure program. The project includes a comprehensive site selection process, with site investigations, historical data analysis, surface and subsurface drainage analysis, geotechnical investigation, site survey, and structural analysis followed by green infrastructure design and construction management support services.

Dickerson Wright, PE, Chairman and CEO of NV5, said, "In the mere month that has elapsed since RBA joined the NV5 family, we have learned of several new large-scale planning and design contract wins with prominent public clients and agencies in the Northeast. We are looking forward to sharing the news with our shareholders and also to realizing opportunities for cross-selling between RBA and our existing Northeastern operations."

David Lapping, PTP, President of RBA, and Linda Reardon, PE, Senior Vice President and Director of New York City, Long Island, Connecticut and Pennsylvania Operations at RBA, added, "This is a great opportunity for us to expand our growing Green Infrastructure practice in New York City and we hope it will be a springboard towards generating additional opportunities in other geographic markets."

"The City's Green Infrastructure program matches our philosophy of incorporating sustainable strategies into all of our design projects. In particular, this project will help mitigate combined sewer overflows by capturing and infiltrating stormwater before it enters the combined sewer system, reducing the amount of traditional grey infrastructure required and simultaneously greening the City in which we work and live," said David Ksyniak, PE, Project Manager at RBA.

Second Quarter 2015 Results

• Sales of $34.4 million vs $29.2 million in the prior year
• EPS of $0.25 vs $0.19 in the prior year

Quotes from management:

"We are pleased to announce another record breaking quarter of earnings for our shareholders characterized by accelerated organic growth, M&A growth, and strong operational performance improvement," said Dickerson Wright, Chairman and CEO of NV5. "Some of our accomplishments included: executing our largest acquisition since 2010, RBA, realizing significant earnings growth over a substantial increase in total shares outstanding, and completing a successful secondary offering. As a result of our May 2015 secondary offering, we raised net proceeds of $29.4 million, which will support the execution of new accretive acquisitions during fiscal year 2015 and 2016. We also reported a sizeable increase in our backlog as a result of numerous new contracts and notable award wins."

2015 Outlook

The Company is raising its guidance for full-year 2015 gross revenues and diluted earnings per share. The Company now expects full-year 2015 gross revenues, including the impact of acquisitions closed through July 31, 2015, to range from $155 million to $160 million, which represents an increase to 48% from 2014 gross revenues of $108.4 million. The Company further expects that full-year 2015 diluted earnings per share will range from $1.07 per share to $1.17 per share, representing an increase to 34% over diluted earnings per share of $0.87 for the full-year 2014. Included in the guidance for diluted earnings per share, is the impact of 1,644,500 shares issued from our secondary offering on May 28, 2015. Furthermore, this guidance for gross revenues and diluted earnings per share excludes anticipated acquisitions for the remainder of 2015.

First Quarter 2015 Results

• Sales of $29.2 million vs $19.0 million in the prior year
• EPS of $0.18 vs $0.13 in the prior year

Quotes from management:

"The strong financial results we are announcing for the first quarter of 2015 indicate that our steady growth strategy is working. By providing an excellent standard of service in the field, exploiting opportunities for cross-selling and synergy among our five verticals, and successfully integrating accretive acquisitions, we were able to win contracts with new clients, extend or expand our contracts with existing clients, and generate significant revenue growth and earnings per share once again for our investors," said Dickerson Wright, Chairman and CEO of NV5. "As a shareholder-value company, we succeed by setting and accomplishing ambitious but realistic organic growth and M&A goals, delivering our budget, and maintaining a clean and transparent balance sheet. We met and exceeded the goals we set for the first quarter of 2015 with revenue growth of 54% and backlog increases of 17%. The first quarter is historically our weakest performing quarter due to winter seasonality and fewer working days."

2015 Outlook

The Company is raising its guidance for full-year 2015 gross revenues and diluted earnings per share. The Company now expects full-year 2015 gross revenues, including the impact of acquisitions closed through April 30, 2015, to range from $127 million to $137 million, which represents an increase of 17% to 26% from 2014 gross revenues of $108.4 million. The Company further expects that full-year 2015 diluted earnings per share will range from $1.05 per share to $1.15 per share, representing an increase of 21% to 32% over diluted earnings per share of $0.87 for the full-year 2014. This guidance for gross revenues and diluted earnings per share excludes anticipated acquisitions for the remainder of 2015.

HOLLYWOOD, FL--(Marketwired - Apr 23, 2015) - NV5 Holdings, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has acquired Richard J. Mendoza, Inc. ("Mendoza & Associates"), a program management firm that specializes in the provision of construction program consulting services to public and private clients in the transportation and clean water/wastewater industries. Mendoza & Associates is based in San Francisco and has seven offices throughout California. Mendoza's staff includes up to 95 professionals with annualized revenues of approximately $15 million.

The acquisition will be immediately accretive to NV5's earnings and was made through a combination of cash and notes.

"We could not be more pleased to welcome the Mendoza team to the NV5 family," said Dickerson Wright, PE, Chairman and CEO of NV5. "With this acquisition we are strengthening our foothold with transportation clients in California through the expansion of our service offerings to include a full range of program management capabilities. We believe the opportunity for synergy between our Infrastructure Transportation group and Mendoza's professionals is a particularly promising one, and we have appointed Todd George COO of Civil Program Management to ensure that NV5 continues to emerge as a leader in airport, roadway, bridge, and facilities construction management in California."

"I have worked closely with Mendoza & Associates for many years now and I am excited about this acquisition because they share many of the same values we consider so critical to our success. Their quality of service and attention to cost effective and timely solutions that has brought them business success and a great reputation with clients in California makes this the perfect addition to our Civil Program Management Practice," said Todd George, PE.

Jeff Pallesen, President of Mendoza & Associates added, "I have known and worked with Todd for more than 20 years, and we have worked with many members of the NV5 team for the last 15. Our firms have worked successfully together on numerous projects and we are looking forward to working together in the future. The two firms joining forces is a natural fit."

HOLLYWOOD, FL--(Marketwired - Apr 14, 2015) - NV5 Holdings, Inc. (the "Company") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, today announced that the Company has been awarded a contract to provide as-built surveys and engineering drawings for construction of high pressure pipelines, pipeline facilities and gas engineering design standards throughout the Client's 23,000 square-mile service territory. Projects are expected to include pipeline or pipeline facility modifications, relocations and installations. The three-year contract, which was effective January 1, 2015, is valued at $4.5 million, with an option for an additional two-year extension.

"We are always very pleased to be selected to provide our professional services and expertise to natural gas distributors," said Dickerson Wright, Chairman and CEO of NV5. "More than half of American households and a rapidly growing proportion of businesses in the U.S. rely on natural gas for their heat and power needs, and our Client ensures its safe and reliable delivery to more than 20 million customers in Southern California. This contract represents another important contract win for our infrastructure vertical."

HOLLYWOOD, FL--(Marketwired - Mar 9, 2015) - NV5 Holdings, Inc. (the "Company") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has been awarded a contract totaling more than $23 million with the California Department of Transportation - District 10 ("Caltrans-District 10") to provide on-call construction engineering, inspection and materials sampling and testing services for three years. NV5 originally began working with Caltrans-District 10 in 2007. Caltrans-District 10 encompasses eight counties and more than 3,500 miles of state roads, stretching from Alpine to Merced and as far east as Mariposa.

"We have managed a significant amount of transportation infrastructure projects throughout California's Central Valley for many years. Our experience allows us to help Caltrans and other public agencies improve the quality of transportation in their regions," said Dickerson Wright, PE, Chairman and CEO of NV5.

"It is our priority to provide the best possible service to clients like Caltrans, and we are honored that NV5 has been selected as the best qualified to assist them in the delivery of their construction program," said Todd George, PE, Senior Vice President and Project Manager for the Contract.

HOLLYWOOD, FL--(Marketwired - Feb 10, 2015) - NV5 Holdings, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has been awarded a contract valued at more than $1 million with the City of El Centro, California, to provide On-Call Engineering, Plan Check, Surveying, Inspection, Geotechnical, Landscape and Architectural Design Services.
"We are very pleased to be continuing our working relationship with the City of El Centro," said Ernesto Aguilar, PE, COO of Infrastructure at NV5, Inc.
"We are excited and strongly committed to being able to support the City in their capital programs, major repair projects and development review processes," said Phil Kern, PE, Engineering Manager at NV5. "We believe our firm brings a unique set of talents that will assist the City in meeting their needs efficiently and cost effectively."

HOLLYWOOD, FL--(Marketwired - Feb 5, 2015) - NV5 Holdings, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that the Company has completed the previously announced redemption of all of its outstanding public warrants. The redemption date for the public warrants was February 5, 2015. Each public warrant entitled the holder to purchase one share of the Company's common stock at an exercise price of $7.80 per share. The redemption resulted in 408,412, or approximately 99%, of its outstanding public warrants being exercised prior to the expiration time and generated gross proceeds to the Company of approximately $3.2 million. The remaining 4,002 public warrants that were not exercised by the expiration time were cancelled and redeemed by the Company for the sum of $0.01 per public warrant.

After taking into account the issuance of shares pursuant to the exercise of the public warrants, the total number of shares of the Company's common stock outstanding is approximately 6.2 million.

HOLLYWOOD, FL--(Marketwired - Feb 2, 2015) - NV5 Holdings, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, has acquired Joslin, Lesser & Associates, Inc. (JLA), a program management and owner's representation consulting firm that primarily services government owned facilities and public K through 12 school districts in the Boston, MA area. JLA's staff includes 30 professionals with annualized revenues approaching $10 million.

The acquisition was made with a combination of cash, notes and stock and will be immediately accretive to NV5's earnings.

"We are pleased to add JLA to the NV5 team. The acquisition of JLA is an exciting opportunity for NV5 to expand our presence in a major metropolitan area in the northeast and further add to our public and governmental client base," said Dickerson Wright, P.E., Chairman and CEO of NV5. "JLA has a distinguished history of managing public capital improvement projects and shares NV5's commitment to providing clients the highest quality program management services possible. JLA will make a great addition to our program management vertical." 

Stuart Lesser, President of JLA, commented, "Our decision to join NV5 was primarily due to their excellent track record in developing key niches in their program management vertical and a philosophy of creating unparalleled service to their clients. We believe now with NV5 we have a unique opportunity to increase our presence in the northeast United States. We welcome the opportunity to be a part of the NV5 team."