HOLLYWOOD, FL--(Marketwired - January 05, 2017) - NV5 Global, Inc. (the "Company" or "NV5") (NASDAQ: NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has exceeded its published goal to reach $300 million in annual revenues entering 2017. NV5 will enter 2017 with a budget of annual revenues exceeding $300 million and EBITDA ranging from 12% to 15%. The company also announced a new goal to reach $600 million in annual revenues by 2020.
Dickerson Wright, PE, Chairman and CEO of NV5, said, "Since our inception as a public company in March of 2013, we have continued to set ambitious goals for our professionals and managers that encourage constant growth and serve as benchmarks for our team and our investors to measure NV5's progress. We are pleased with our achievement and we are poised to grow far beyond $300 million. Today we are announcing a new goal to grow NV5 to $600 million in annual revenues by year 2020. Our new goal will be accomplished by adhering to the same basic business philosophy we have followed so far and maintaining a flat vertical organization that empowers entrepreneurial leaders. NV5's success continues to be a result of excellent performance in three functional areas: organic growth of our new and existing service lines, growth through our well-established acquisition program, and growth through our successful integration and cross-selling initiatives."
Organic Growth of New and Existing Service Lines
NV5's flat organization has promoted accountability and efficiency in operations and in business development. This has resulted in organic growth above the industry standard.
Well-established Acquisition Program
NV5 has densified its existing platform and service lines and entered new markets and geographies through its acquisition program. 2016 was NV5's most acquisitive year to date. The company made acquisitions in key markets that are growing beyond the industry standard and instituted a management structure that optimizes integration and allows NV5's leaders to grow the businesses they know best. This management structure will help facilitate the continued organic growth the company anticipates in order to reach its $600 million goal and future goals.
Successful Integration and Cross-Selling Initiatives
All of NV5's offices are focused on a common goal, which is the success of the company. NV5 has achieved success through continued communication among all of its offices and by integrating acquisitions into its best operational and business development practices.
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure, engineering and support services, energy, program management, and environmental solutions. The Company is headquartered in Hollywood, FL and operates 75 offices in 26 states nationwide and abroad in Macau, Shanghai, Hong Kong, and Vietnam. For additional information, please visit the Company's website at www.NV5.com. Also visit the Company on Twitter, LinkedIn, Facebook, and Vimeo.
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the "Risk Factors" set forth in the Company's most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.