NV5 Announces $7 Million In Essential Infrastructure Contract Awards

HOLLYWOOD, Fla., May 13, 2020 (GLOBE NEWSWIRE) -- NV5 Global, Inc.
Publish date:

HOLLYWOOD, Fla., May 13, 2020 (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 been awarded $7 million in contracts to support infrastructure improvements in California.  The newly awarded contracts will support critical infrastructure, including roadways, public works, and airport capital improvements and are considered essential services. 

"Transportation continues to be a significant driver of NV5's growth, and our technical expertise makes us a preferred provider of surveying, engineering, and construction quality assurance services for these critical infrastructure projects," said Dickerson Wright, PE, Chairman and CEO of NV5.  "It is encouraging to see that transportation infrastructure improvements continue to proceed and reinforce the need for the essential services that NV5 provides."

In Merced County, NV5 secured a three-year, $2.5 million contract to provide on-call surveying and engineering services for various state and federally-funded public works projects.  An airport agency in Southern California also awarded NV5 a three-year, $2 million contract to provide survey services associated with the airport's capital improvement program, airport design and construction, and major maintenance program. 

NV5 was selected for two bridge and roadway projects, totaling $2.5 million.  The first contract is a five-year contract funded by the State Transportation Improvement Program and Local Safety Seismic Bridge Retrofit Program to provide construction management, materials testing, source inspection, and special inspection services for the construction of two new bridges across the Sacramento River and its overflow area in Tehama County.  NV5 was also awarded a one-year contract by the City of Bakersfield to provide construction observation, biological monitoring, contract administration, and project closeout services.    

"We are proud to contribute to the improvement and expansion of transportation infrastructure that improves the communities that we serve in California and across the country," said Todd George, PE, COO Infrastructure West at NV5. 

About NV5NV5 Global, Inc. (NVEE) - Get Report is a provider of professional and technical engineering 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 StatementsThis 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 CochranVice President, Marketing & Investor RelationsTel: +1-954-637-8048Email: ir@nv5.com

Source: NV5 Global, Inc.