Revenue during the quarter surged 48.92 percent to $63.02 million from $42.32 million in the previous year period. Gross margin for the quarter expanded 414 basis points over the previous year period to 49.02 percent. Total expenses were 92.04 percent of quarterly revenues, up from 90.06 percent for the same period last year. That has resulted in a contraction of 198 basis points in operating margin to 7.96 percent.

Operating income for the quarter was $5.02 million, compared with $4.21 million in the previous year period.

"2016 was a successful year for organic and strategic growth at NV5," said Dickerson Wright, PE, chairman and chief executive officer of NV5. "We achieved our objective of reaching $300 million in run-rate revenue with at least 12% EBITDA by the end of the year and once again exceeded industry standards for organic growth. We have set a new goal to reach $600 million in revenue by 2020 and we have initiated 2017 guidance that reflects that threshold of 600/20 we have set for ourselves. We encountered unanticipated challenges in the third and fourth quarters of 2016, namely, significant delays to a number of our transportation infrastructure projects in New Jersey brought on by legislative gridlock, and project delays in the Western states due to heavy rains and flooding. Both problems have since been improved, and we were still able to achieve organic growth of 8% in the fourth quarter. Our ability to achieve 8% organic growth despite these obstacles speaks well for our business model. We continue to strengthen our existing verticals and platforms for strategic opportunities and organic growth."

For financial year 2017, NV5 Global, Inc. projects revenue to be in the range of $302 million to $316 million. It forecasts diluted earnings per share to be in the range of $1.53 to $1.65. It forecasts diluted earnings per share to be in the range of $1.93 to $2.05 on adjusted basis for the same period.

The company has spent $46.80 million cash to meet investing activities during the year as against cash outgo of $11.03 million in the last year.

Cash flow from financing activities was $43.77 million for the year, up 102.09 percent or $22.11 million, when compared with the last year.

Cash and cash equivalents stood at $35.67 million as on Dec. 31, 2016, up 51.93 percent or $12.19 million from $23.48 million on Dec. 31, 2015.

Working capital increases sharply
NV5 Global, Inc. has recorded an increase in the working capital over the last year. It stood at $71.60 million as at Dec. 31, 2016, up 39 percent or $20.09 million from $51.51 million on Dec. 31, 2015. Current ratio was at 2.64 as on Dec. 31, 2016, down from 3.32 on Dec. 31, 2015.

Debt increases substantially
NV5 Global, Inc. has witnessed an increase in total debt over the last one year. It stood at $32.40 million as on Dec. 31, 2016, up 202.57 percent or $21.69 million from $10.71 million on Dec. 31, 2015. Total debt was 14.48 percent of total assets as on Dec. 31, 2016, compared with 9.58 percent on Dec. 31, 2015. Debt to equity ratio was at 0.22 as on Dec. 31, 2016, up from 0.13 as on Dec. 31, 2015. Interest coverage ratio improved to 139.36 for the quarter from 131.47 for the same period last year.