NV5 Announces Record Third Quarter Results; Exceeds Analysts' Expectations

NV5 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
(in thousands)
  
  Nine Months Ended
  October 3,
2020
  September 28,
2019
Cash Flows From Operating Activities:   
Net income$16,445  $20,180 
Adjustments to reconcile net income to net cash provided by operating activities:   
Depreciation and amortization34,680  18,908 
Non-cash lease expense6,731  6,770 
Provision for doubtful accounts3,127  1,725 
Stock-based compensation10,900  6,989 
Change in fair value of contingent consideration  49 
Gain on disposals of property and equipment(394) (48)
Deferred income taxes(5,905) (3,839)
Amortization of debt issuance costs669   
Changes in operating assets and liabilities, net of impact of acquisitions:   
Billed receivables8,089  508 
Unbilled receivables(7,505) (4,490)
Prepaid expenses and other assets2,171  (5,279)
Accounts payable(2,780) (2,053)
Accrued liabilities322  (9,170)
Income taxes payable  (2,789)
Billings in excess of costs and estimated earnings on uncompleted contracts5,706  (5,972)
Deposits163     68  
Net cash provided by operating activities 72,419     21,557  
       
Cash Flows From Investing Activities:      
Cash paid for acquisitions (net of cash received from acquisitions) (882 )   (29,365 )
Proceeds from sale of assets 1,053      
Purchase of property and equipment (8,342 )   (1,810 )
Net cash used in investing activities (8,171 )   (31,175 )
       
Cash Flows From Financing Activities:      
Borrowings from Senior Credit Facility     10,000  
Payments on notes payable (9,941 )   (8,483 )
Payments of contingent consideration (913 )   (1,213 )
Payments of borrowings from Senior Credit Facility (20,750 )    
Payments of debt issuance costs (447 )    
Net cash (used in) provided by financing activities (32,051 )   304  
       
Net increase (decrease) in Cash and Cash Equivalents 32,197     (9,314 )
Cash and cash equivalents – beginning of period 31,825     40,739  
Cash and cash equivalents – end of period $ 64,022     $ 31,425  
               

« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise