Reports Q3 revenue $131.03M, consensus $138.33M. Backlog was $463M as of September 28, a 35% increase from $342M as of September 29, 2018. Backlog includes those contracts for which work authorizations or awards have been received, estimated recurring revenue from one of the company's service lines that has a high volume of small contracts and a quick-burn estimate. "NV5 continues to strategically invest in technical capabilities that add value to our clients and deepen our relationships, have significant barriers to entry, and provide margins that are higher than the industry average. Our seven acquisitions in 2019 only contributed partial year revenue, but have given us a significant presence in the Pacific Northwest, provided us with access to key DOTs and utilities, and made us the leading provider of geospatial solutions, a rapidly-growing, specialized service that impacts important fields such as power transmission line fire mitigation, pipeline asset management, and forestry management, said Dickerson Wright, chairman and CEO of NV5. "NV5 is at the forefront of advancements in service delivery and data management solutions, an example of which is our monitoring-based energy efficiency commissioning services. We are excited for QSI to lead our new Technology service line, a suite of technologically advanced service offerings that provide unique value for our clients."
