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NV5 Announces Approximately $9 Million in Transportation Infrastructure Awards

HOLLYWOOD, Fla., May 26, 2020 (GLOBE NEWSWIRE) -- NV5 Global, Inc. (the “Company” or “NV5”) (Nasdaq: NVEE), a provider of professional and technical engineering, geospatial, and consulting solutions, announced today that it has been awarded approximately $9 million in transportation infrastructure contracts in New York and California.  These projects will provide engineering, construction inspection, and program management services for critical infrastructure projects related to roadway and pedestrian facility improvements, stormwater infrastructure improvements, and bridge rehabilitation. 

“Critical infrastructure investments, such as transportation, utility services, water resources, and civil program management continue to drive new business for NV5, even during times of economic downturn,” said Dickerson Wright, PE, Chairman and CEO of NV5.  “The investments being made by the New York State DOT and Caltrans will improve the transportation infrastructure in each state for years to come, and we are proud to support these efforts for our valued clients.”

The New York State Department of Transportation (NYSDOT) awarded NV5 three new construction inspection contracts, totaling approximately $3.5 million.  In Suffolk County, NV5’s services will support an 18-month drainage improvement project to address ponding and pavement flooding on New York State Route 454, along with curb, barrier, signage, and pavement improvements.  NV5 will also support a 14-month bridge rehabilitation project in Nassau County on New York State Route 25, which will include bearing replacement, pedestal reconstruction, substructure and deck repair, bridge rail and sidewalk replacement, and asphalt overlay.  In Rockland County, NV5 will provide construction inspection and concrete testing for a 14-month project to replace and reconstruct the roadway and pedestrian facilities of New York State Route 17 in the Village of Sloatsburg.

The California Department of TransportationDistrict 9 (Caltrans: District 9) selected NV5 for a $5.1 million contract to provide on-call construction engineering, inspection, testing, claims, and constructability support services for transportation facilities throughout the Caltrans: District 9 service area including Eastern Kern, Inyo, and Mono Counties.  NV5 has served Caltrans since 2003, in support of transportation facilities and projects across the State of California.  Work has already begun under this work order, and the contract duration is 30 months.    

“NYSDOT continues to rejuvenate the transportation infrastructure that ties the State’s communities together, and we are proud to contribute to projects that increase the safety, efficiency, and life span of these transportation assets,” said Linda Reardon, PE, Senior Vice President Infrastructure East at NV5.

“Caltrans has been a valued NV5 client for many years, and we appreciate the opportunity to continue our partnership to improve the transportation infrastructure that serves residents, visitors, and businesses throughout District 9,” said Todd George, PE, COO Infrastructure West at NV5. 

About NV5
NV5 Global, Inc. (NASDAQ: NVEE) is a provider of professional and technical engineering, geospatial, and consulting solutions ranked #27 in the Engineering News-Record Top 500 Design Firms list. NV5 serves public and private sector clients in the infrastructure, utility services, construction, real estate, and environmental markets. NV5 primarily focuses on five business verticals: construction quality assurance, infrastructure engineering and support services, utility services, program management, and environmental solutions, and delivers geospatial services through its subsidiary Quantum Spatial, Inc., the largest full-service geospatial solutions provider in North America. The Company operates out of more than 100 locations worldwide. 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.

Investor Relations Contact

NV5 Global, Inc.                                           
Jack Cochran
Vice President, Marketing & Investor Relations
Tel: +1-954-637-8048
Email: ir@nv5.com

Source: NV5 Global, Inc. 

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Source: NV5 Global, Inc.