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NV5 Announces $10.5 Million in Infrastructure Wins and New ENR Ranking

HOLLYWOOD, Fla., May 17, 2017 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq:NVEE), a provider of professional and technical engineering and consulting solutions, announced today that it has won $10.5 million in contracts for the provision of infrastructure engineering services to public agencies in New York and New Jersey. The amount includes several New York projects with delayed start dates that are now underway, including $2.25 million in fees for resident engineering services and pedestrian safety studies from the New York State Department of Transportation (NYSDOT), $2.6 million from the New York City Department of Design and Construction (NYCDDC) for bridge design services, and $3 million from the New York City Economic Development Corporation (NYCEDC) for on-call engineering services.

NV5 also won a new $1.3 million contract with the New Jersey Department of Treasury to provide design and construction administration services for facilities that support the Lincoln Tunnel, and a new $1.35 million contract to provide federally funded infrastructure improvement services for the Montauk Highway in Suffolk County, New York.

Dickerson Wright, PE, Chairman and CEO of NV5, said, “We are really pleased with the progress our infrastructure group in the Northeast is making and we are encouraged by the federal funding we are starting to see surrounding some of our larger transportation infrastructure projects. Our teams in New York and New Jersey continue to do important engineering work on roadways, bridges, and tunnels that are imperative to the millions of people who travel in and out of New York City and the Tri-state area every day. Our engineers also continue to conduct essential safety and environmental studies in the area. The growth of our civil engineering practice on the East Coast is evidenced in part by our movement on the Engineering News Record’s annual list of top firms, from number 75 in 2016 to number 54 in 2017. NV5 now also ranks 31st on the ENR top 100 pure design firms list.”

New Jersey Department of Treasury Secaucus Facilities Improvements

NV5 was recently awarded a $1.3 million contract by The NJ Department of Treasury, Division of Property Management and Construction, to provide design and construction administration services for site and building improvements to facilities severely damaged during Super Storm Sandy. These improvements will restore functionality to facilities that serve a critical role in the maintenance of major highway access to and from New York City, particularly the Lincoln Tunnel. The improvements will also ensure motorist safety and mobility. 

Resident Engineering Services for Montauk Highway

NV5 has been selected by the Suffolk County Department of Public Works (SCDPW) to provide construction inspection services for a federally funded pavement resurfacing contract along 16 miles of County Road 80 (Montauk Highway), in the Towns of Brookhaven and Southampton. NV5’s fee for construction support services is $1.35 million.

About NV5

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 operates out of 102 locations 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.

Forward-Looking Statements

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.

Contact

NV5 Global, Inc.
Lauren Wright, PhD
Director of Investor Relations
Tel: +1-408-392-7233
Email: ir@nv5.com

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NV5 Global, Inc.