Document And Entity Information
Document And Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 09, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | NV5 Global, Inc. | ||
Entity Central Index Key | 1,532,961 | ||
Trading Symbol | nvee | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 10,585,922 | ||
Entity Public Float | $ 216.5 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 35,666 | $ 23,476 |
Accounts receivable, net of allowance for doubtful accounts of $1,992 and $1,536 as of December 31, 2016 and December 31, 2015, respectively | 75,511 | 47,747 |
Prepaid expenses and other current assets | 1,874 | 1,092 |
Deferred income tax assets | 2,173 | 1,440 |
Total current assets | 115,224 | 73,755 |
Property and equipment, net | 6,683 | 3,091 |
Intangible assets, net | 40,861 | 12,367 |
Goodwill | 59,380 | 21,679 |
Other assets | 1,511 | 877 |
Total Assets | 223,659 | 111,769 |
Current liabilities: | ||
Accounts payable | 13,509 | 6,658 |
Accrued liabilities | 17,316 | 9,564 |
Income taxes payable | 1,134 | 813 |
Billings in excess of costs and estimated earnings on uncompleted contracts | 228 | 293 |
Client deposits | 106 | 110 |
Current portion of contingent consideration | 564 | 458 |
Current portion of notes payable and other obligations | 10,764 | 4,347 |
Total current liabilities | 43,621 | 22,243 |
Contingent consideration, less current portion | 1,875 | 821 |
Notes payable and other obligations, less current portion | 21,632 | 6,360 |
Deferred income tax liabilities | 8,370 | 1,582 |
Total liabilities | 75,498 | 31,006 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $0.01 par value; 5,000,000 shares authorized, no shares issued and outstanding | 0 | 0 |
Common stock, $0.01 par value; 45,000,000 shares authorized, 10,566,528 and 8,124,627 shares issued and outstanding as of December 31, 2016 and 2015, respectively | 106 | 81 |
Additional paid-in capital | 118,026 | 62,260 |
Retained earnings | 30,029 | 18,422 |
Total stockholders’ equity | 148,161 | 80,763 |
Total liabilities and stockholders’ equity | $ 223,659 | $ 111,769 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts receivable, allowance for doubtful accounts | $ 1,992 | $ 1,536 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 45,000,000 | 45,000,000 |
Common stock, shares issued (in shares) | 10,566,528 | 8,124,627 |
Common stock, shares outstanding (in shares) | 10,566,528 | 8,124,627 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Gross revenues | $ 223,910 | $ 154,655 | $ 108,382 |
Direct costs (excluding depreciaiton and amortization): | |||
Salaries and wages | 73,966 | 53,687 | 36,976 |
Sub-consultant services | 31,054 | 21,394 | 15,996 |
Other direct costs | 11,310 | 10,796 | 10,229 |
Total direct costs | 116,330 | 85,877 | 63,201 |
Gross Profit | 107,580 | 68,778 | 45,181 |
Operating Expenses: | |||
Salaries and wages, payroll taxes and benefits | 55,586 | 34,731 | 22,887 |
General and administrative | 19,351 | 11,930 | 8,865 |
Facilities and facilities related | 8,012 | 4,950 | 3,198 |
Depreciation and amortization | 6,228 | 3,468 | 1,988 |
Total operating expenses | 89,177 | 55,079 | 36,938 |
Income from operations | 18,403 | 13,699 | 8,243 |
Other expense: | |||
Interest expense | (257) | (212) | (274) |
Total other expense | (257) | (212) | (274) |
Income before income tax expense | 18,146 | 13,487 | 7,969 |
Income tax expense | (6,539) | (4,995) | (3,076) |
Net Income and Comprehensive Income | $ 11,607 | $ 8,492 | $ 4,893 |
Earnings per share: | |||
Basic (in dollars per share) | $ 1.27 | $ 1.25 | $ 0.96 |
Diluted (in dollars per share) | $ 1.22 | $ 1.18 | $ 0.87 |
Weighted average common shares outstanding: | |||
Basic (in shares) | 9,125,167 | 6,773,135 | 5,102,058 |
Diluted (in shares) | 9,540,051 | 7,215,898 | 5,592,010 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2013 | 5,504,236 | |||
Balance at Dec. 31, 2013 | $ 55 | $ 23,717 | $ 5,037 | $ 28,809 |
Stock compensation | 752 | 752 | ||
Exercise of warrants (in shares) | 600 | |||
Exercise of warrants | 5 | 5 | ||
Restricted stock issuance, net (in shares) | 102,362 | |||
Restricted stock issuance, net | $ 1 | (1) | ||
Stock issuance for acquisitions (in shares) | 134,774 | |||
Stock issuance for acquisitions | $ 2 | 1,044 | 1,046 | |
Payment of contingent consideration with common stock (in shares) | 12,987 | |||
Payment of contingent consideration with common stock | 100 | 100 | ||
Net income | 4,893 | 4,893 | ||
Balance (in shares) at Dec. 31, 2014 | 5,754,959 | |||
Balance at Dec. 31, 2014 | $ 58 | 25,617 | 9,930 | 35,605 |
Proceeds from exercise of warrants, net of costs (in shares) | 600 | |||
Proceeds from exercise of warrants, net of costs | 5 | 5 | ||
Stock compensation | 1,696 | 1,696 | ||
Exercise of warrants (in shares) | 408,412 | |||
Exercise of warrants | $ 4 | 2,965 | 2,969 | |
Restricted stock issuance, net (in shares) | 216,535 | |||
Restricted stock issuance, net | $ 2 | (2) | ||
Stock issuance for acquisitions (in shares) | 91,923 | |||
Stock issuance for acquisitions | $ 1 | 945 | 946 | |
Payment of contingent consideration with common stock (in shares) | 8,298 | |||
Payment of contingent consideration with common stock | 100 | 100 | ||
Net income | 8,492 | 8,492 | ||
Balance (in shares) at Dec. 31, 2015 | 8,124,627 | |||
Balance at Dec. 31, 2015 | $ 81 | 62,260 | 18,422 | 80,763 |
Proceeds from secondary offering, net of costs (in shares) | 1,644,500 | |||
Proceeds from secondary offering, net of costs | $ 16 | 29,403 | 29,419 | |
Proceeds from exercise of warrants, net of costs (in shares) | 408,412 | |||
Proceeds from exercise of warrants, net of costs | $ 4 | 2,965 | 2,969 | |
Tax benefit from stock based compensation | 1,536 | 1,536 | ||
Stock compensation | 2,343 | 2,343 | ||
Exercise of warrants (in shares) | 140,000 | |||
Exercise of warrants | $ 1 | 1,007 | 1,008 | |
Restricted stock issuance, net (in shares) | 189,295 | |||
Restricted stock issuance, net | $ 2 | (2) | ||
Stock issuance for acquisitions (in shares) | 148,651 | |||
Stock issuance for acquisitions | $ 2 | 4,238 | 4,239 | |
Payment of contingent consideration with common stock (in shares) | 8,955 | |||
Payment of contingent consideration with common stock | 162 | 162 | ||
Net income | 11,607 | 11,607 | ||
Balance (in shares) at Dec. 31, 2016 | 10,566,528 | |||
Balance at Dec. 31, 2016 | $ 106 | 118,026 | 30,029 | 148,161 |
Proceeds from secondary offering, net of costs (in shares) | 1,955,000 | |||
Proceeds from secondary offering, net of costs | $ 20 | 47,126 | 47,146 | |
Proceeds from exercise of warrants, net of costs (in shares) | 140,000 | |||
Proceeds from exercise of warrants, net of costs | $ 1 | 1,007 | 1,008 | |
Tax benefit from stock based compensation | $ 892 | $ 892 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Cash Flows From Operating Activities: | |||
Net income | $ 11,607 | $ 8,492 | $ 4,893 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 6,228 | 3,468 | 1,988 |
Provision for doubtful accounts | 138 | 164 | (136) |
Stock compensation | 2,343 | 1,696 | 752 |
Change in fair value of contingent consideration | 201 | (335) | 18 |
Loss on disposal property and equipment | 14 | 64 | |
Excess tax benefit from stock based compensation | (892) | (1,536) | |
Deferred income taxes | (1,837) | (666) | 247 |
Changes in operating assets and liabilities, net of impact of acquisitions: | |||
Accounts receivable | (7,681) | (4,846) | (7,591) |
Prepaid expenses and other assets | 920 | 601 | (645) |
Accounts payable | 3,047 | (3,830) | 1,316 |
Accrued liabilities | (243) | 1,479 | 399 |
Income taxes payable | 1,212 | 1,243 | 392 |
Billings in excess of costs and estimated earnings on uncompleted contracts | (65) | 16 | (124) |
Client deposits | 221 | 26 | (153) |
Net cash provided by operating activities | 15,213 | 5,972 | 1,420 |
Cash Flows From Investing Activities: | |||
Cash paid for acquisitions | (45,811) | (10,427) | (4,650) |
Purchase of property and equipment | (985) | (601) | (825) |
Net cash used in investing activities | (46,796) | (11,028) | (5,475) |
Cash Flows From Financing Activities: | |||
Proceeds from secondary offerimg | 51,319 | 32,068 | |
Payments of secondary offering costs | (4,173) | (2,649) | |
Exercise of warrants costs | (216) | ||
Payments on notes payable | (4,594) | (10,797) | (1,999) |
Payments of contingent consideration | (296) | (533) | (233) |
Excess tax benefit from stock based compensation | 892 | 1,536 | |
Payments of debt issuance costs | (383) | (27) | |
Payments on stock repurchase obligation | (935) | (687) | |
Proceeds from exercise of unit warrant | 1,008 | 3,186 | 5 |
Net cash provided by (used in) financing activities | 43,773 | 21,660 | (2,941) |
Net increase in Cash and Cash Equivalents | 12,190 | 16,604 | (6,996) |
Cash and cash equivalents – beginning of period | 23,476 | 6,872 | 13,868 |
Cash and cash equivalents – end of period | 35,666 | 23,476 | 6,872 |
Supplemental disclosures of cash flow information: | |||
Cash paid for interest | 272 | 185 | 186 |
Cash paid for income taxes | 7,334 | 4,371 | 1,767 |
Non-cash investing and financing activities: | |||
Contingent consideration (earn-out) | 1,417 | 1,307 | 286 |
Notes payable and other obligations for acquisitions | 25,833 | 9,250 | 4,010 |
Stock issuance for acquisitions | 4,239 | 946 | 1,046 |
Payment of contingent consideration with common stock | 162 | 100 | 100 |
Landlord-funded leasehold improvements | $ 137 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Business Operations | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | Note 1 Business NV5 “NV5 75 NV5 Significant Transactions Acquisitions The Company completed a number of acquisitions in 2016, 2015 2014. NV5 The acquisitions referenced above were accounted for as business combinations under the acquisition method of accounting. Under this method, the assets acquired, liabilities assumed and non-controlling interest, if any, were recorded in the Company’s consolidated financial statements at their respective fair values as of the acquisition dates, and the results of these acquisitions are included in the Company’s consolidated results from the respective dates of acquisition (see Note 4). Secondary offering On May 13, 2016, secondary 1,700,000 $26.25 1933, 3 333 206644) secondary 30 255,000 May 18, 2016, $41,000 1,700,000 June 3, 2016, secondary 255,000 $6,200 On May 22, 2015, secondary 1,430,000 $19.50 1933, 3 3MEF 333 198113 333 204362) 462(b) May 28, 2015, 214,500 May 28, 2015, $29,400 1,644,500 Warrant exercise In conjunction with the Company’s initial public offering on March 26, 2013, 140,000 one one one $7.80 March 27, 2018. March 23, 2016, $1,008 March 29, 2016, 140,000 May 5, 2016, . On January 5, 2015, one $7.80 February 4, 2015 $7.80 408,412, 99%, $3,200. 4,002 $0.01 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2 Basis of Presentation and Principles of Consolidation The consolidated financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. These estimates and assumptions are based on management’s most recent assessment of underlying facts and circumstances using the most recent information available. Actual results could differ significantly from these estimates and assumptions, and the differences could be material. Estimates and assumptions are evaluated periodically and adjusted when necessary. The more significant estimates affecting amounts reported in the consolidated financial statements relate to the fair value estimates used in accounting for business combinations including the valuation of identifiable intangible assets and contingent consideration, fair value estimates in determining the fair value of the Company’s reporting units for goodwill impairment assessment, revenue recognition on the percentage-of-completion method, allowances for uncollectible accounts and provision for income taxes. Cash and Cash Equivalents Cash and cash equivalents include cash on deposit with financial institutions and investments in high quality overnight money market funds, all of which have maturities of three may Concentration of Credit Risk Trade receivable balances carried by the Company are comprised of accounts from a diverse client base across a broad range of industries and are not collateralized. However, approximately 34%, 42% 45% December 31, 2016, 2015 2014. 10% 2016 2015. 2014, two 21% Furthermore, approximately 46% 63% December 31, 2016 2015 Fair Value of Financial Instruments A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three Level 1 Level 2 Level 3 The Company considers cash and cash equivalents, accounts receivable, accounts payable, income taxes payable, accrued liabilities and debt obligations to meet the definition of financial instruments. As of December 31, 2016 2015, The Company applies the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations third 2016 2015 2016 2015 Several factors are considered when determining contingent consideration liabilities as part of the purchase price, including whether (i) the valuation of the acquisitions is not supported solely by the initial consideration paid, and the contingent earn-out formula is a critical and material component of the valuation approach to determining the purchase price; and (ii) the former owners of the acquired companies that remain as key employees receive compensation other than contingent earn-out payments at a reasonable level compared with the compensation of other key employees. The contingent earn-out payments are not affected by employment termination. We review and re-assess the estimated fair value of contingent consideration liabilities on a quarterly basis, and the updated fair value could differ materially from the initial estimates. Adjustments to the estimated fair value related to changes in all other unobservable inputs are reported in operating income. The Company measures contingent consideration recognized in connection with business combinations at fair value on a recurring basis using significant unobservable inputs classified within Level 3, 10). Property and Equipment Property and equipment is stated at cost. Property and equipment acquired in a business combination is stated at fair value at the acquisition date. The Company capitalizes the cost of improvements to property and equipment that increase the value or extend the useful lives of the assets. Normal repair and maintenance costs are expensed as incurred. Depreciation and amortization is computed on a straight-line basis over the following estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the lesser of their estimated useful lives or the remaining terms of the related lease agreement. Asset Depreciation Period Office furniture and equipment 5 Years Computer equipment 3 Years Survey and field equipment 5 Years Leasehold improvements Lesser of the estimated useful lives or remaining term of the lease Property and equipment balances are periodically reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not December 31, 2016, 2015 2014. Goodwill and Intangible Assets Goodwill is the excess of consideration paid for an acquired entity over the amounts assigned to assets acquired, including other identifiable intangible assets and liabilities assumed in a business combination. To determine the amount of goodwill resulting from a business combination, the Company performs an assessment to determine the acquisition date fair value of the acquired company’s tangible and identifiable intangible assets and liabilities. Goodwill is required to be evaluated for impairment on an annual basis or whenever events or changes in circumstances indicate the asset may first two two NV5 August 1 Identifiable intangible assets primarily include customer backlog, customer relationships, trade names and non-compete agreements. Amortizable intangible assets are amortized on a straight-line basis over their estimated useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the assets may See Note 7 Earnings per Share Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. In accordance with the FASB ASC 260, Earnings per Share December 31, 2016, 2015 2014 489,553, 413,088 607,906 2010. December 31, 2016, 2015 2014 December 31, 2016, 2015 2014, The following table represents a reconciliation of the net income and weighted average shares outstanding for the calculation of basic and diluted earnings per share for the years ended December 31, 2016, 2015 2014: Year Ended December 31 December 31 December 31 2016 2015 2014 Numerator: Net income – basic and diluted $ 11,607 $ 8,492 $ 4,893 Denominator: Basic weighted average shares outstanding 9,125,167 6,773,135 5,102,058 Effect of dilutive non-vested restricted shares and units 213,907 332,014 326,660 Effect of issuable shares related to acquisitions 80,779 12,759 30,666 Effect of warrants 120,198 97,990 132,626 Diluted weighted average shares outstanding 9,540,051 7,215,898 5,592,010 Revenue Recognition The Company enters into contracts with its clients that contain two Cost-reimbursable contracts two • Time and materials contracts are common for smaller scale professional and technical consulting and certification services projects. Under these types of contracts, there is no predetermined fee. Instead, the Company negotiates hourly billing rates and charges the clients based upon actual hours expended on a project. In addition, any direct project expenditures are passed through to the client and are typically reimbursed. These contracts may • Cost-plus contracts are the predominant contracting method used by U.S. federal, state, and local governments. These contracts provide for reimbursement of the actual costs and overhead (at predetermine rates) incurred, plus a predetermined fee. Fixed-price contracts. two • Lump-sum contracts typically require the performance of all of the work under the contract for a specified lump-sum fee, subject to price adjustments if the scope of the project changes or unforeseen conditions arise. Many of the Company’s lump-sum contracts are negotiated and arise in the design of projects with a specified scope and project deliverables. • Fixed-unit price contracts typically require the performance of an estimated number of units of work at an agreed price per unit, with the total payment under the contract determined by the actual number of units performed. Revenues from engineering services are recognized in accordance with the accrual basis of accounting. Revenues under cost-reimbursable contracts are recognized when services are performed and revenues from fixed-price contracts are recognized on the percentage-of-completion method, generally measured by the direct costs incurred to date as compared to the estimated total direct costs for each contract. The Company includes other direct costs (for example, third may If estimated total costs on contracts indicate a loss or reduction to the percentage of total contract revenues recognized to date, these losses or reductions are recognized in the period in which the revisions are known. The cumulative effect of revisions to revenues, estimated costs to complete contracts, including penalties, incentive awards, change orders, claims, anticipated losses and others are recorded in the period in which the revisions are identified and the loss can be reasonably estimated. Such revisions could occur in any reporting period and the effects on the results of operations for that reporting period may Change orders and claims typically result from changes in scope, specifications, design, performance, materials, sites, or period of completion. Costs related to change orders and claims are recognized when incurred. Change orders are included in total estimated contract revenues when it is probable that the change order will result in an addition to the contract value and can be reliably estimated. Federal Acquisition Regulations (“FAR”), which are applicable to the Company’s federal government contracts and may may Unbilled work results when the appropriate contract revenues has been recognized when services are performed or based on the percentage-of-completion accounting method but the revenue recorded has not been billed due to the billing terms defined in the contract. Unbilled amounts as of the reporting date are included within accounts receivable in the accompanying consolidated balance sheets. In certain circumstances, the contract may Advertising Advertising costs are charged to expense in the period incurred and amounted to $500, $195 $86 December 31, 2016, 2015 2014, Allowance for Doubtful Accounts The Company records billed and unbilled receivables net of an allowance for doubtful accounts. The allowance is estimated based on management’s evaluation of the contracts involved and the financial condition of clients. Factors the Company considers include, but are not limited to: client type (federal government or commercial client), historical performance, historical collection trends and general economic conditions. The allowance is increased by the Company’s provision for doubtful accounts which is charged against income. All recoveries on receivables previously charged off are credited to the accounts receivable recovery account are included in income, while direct charge-offs of receivables are deducted from the allowance. Leases The Company’s office leases are classified as operating leases and rent expense is included in facilities and facilities related expense in the Company’s consolidated statements of net income and comprehensive income. Some lease terms include rent and other concessions and rent escalation clauses which are included in computing minimum lease payments. Minimum lease payments are recognized on a straight-line basis over the minimum lease term. The variance of rent expense recognized from the amounts contractually due pursuant to the underlying leases is included in accrued liabilities in the Company’s consolidated balance sheets. Income Taxes The Company accounts for income taxes in accordance with ASC Topic No. 740 Income Taxes 740”). The Company recognizes the consolidated financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50 |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 3 Issued Accounting Pronouncement s In January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350) This ASU eliminates Step 2 2020 January 1, 2017. 2017 04 . In August 2016, 2016 15, Statement of Cash Flows (Topic 230), 2018. 2016 15 In March 2016, 2016 09, Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting. 2016 09 2016 09 December 15, 2016, 2016 09 In February 2016, 2016 02, Leases 2016 02 requires lessees to recognize, in the balance sheet, a liability to make lease payments and a right-of-use asset representing the right to use the underlying asset over the lease term. The amendments in this accounting standard update are to be applied using a modified retrospective approach and are effective for fiscal years beginning after December 15, 2018. We are currently evaluating the requirements of ASU 2016 02 In November 2015, 2015 17— Balance Sheet Classification of Deferred Taxes 2015 17 2015 17 December 15, 2016, In May 2014, 2014 09, Revenue from Contracts with Customers. December 15, 2016 may July 2015, one December 31, 2017 December 15, 2016. 2014 09 first December 31, 2018. 2014 09 |
Note 4 - Business Acquisitions
Note 4 - Business Acquisitions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | Note 4 On December 6, 2016, $11 ,05 0, $5 ,050 $3 ,500 3%), four $875, first, second, third fourth December 6, 2016, $1,500 (43,139 $1,000 2017. $1,000 $705, December 31, 2016, $705. third second 2017 . On November 30, 2016, $1 0,000, $4 ,500 18,197 $600; $2 ,700 3%), four $675, first, second, third fourth November 30, 2016, $1,800 three $600, first, second third $1,000 2017. $1,000 $712, December 31, 2016, $712. third second 2017 . On October 26, 2016, $23 ,000, $12 ,000, 44,947 $1 ,4 00, $7 ,000. five $1 ,4 00 October 26, 2017, 2018, 2019, 2020 2021. 3.0% $2 ,600 two $1,300, first second . In order to ultimately determine the fair values of tangible and intangible assets acquired and liabilities assumed for JBA, we engaged a third second 2017 . On September 12, 2016, $1, 000 $300 $500 3. 0%), four $125, first, second, third fourth September 12, 2016, 9) $200 (6,140 On May 20, 2016, $20,000 $10,000 $6,000 3.5%), four $1,500, first, second, third fourth May 20, 2016, 9), $1,000 (36,261 $3,000 three $1,000, first, second third May 20, 2016. On February 1, 2016, $14,000 On July 1, 2015, NV5, $13,000 $8,000 $1,900 July 2015, $4,000 3.0% four $1,000, first, second, third fourth July 1, 2015, 9). $1,000 2016 2017. $1,000 $406, December 31, 2016 2015, $647 $446, $4,000 On June 24, 2015, 1 $1,300 $800 $500 3.5%), three $167, first, second third June 24, 2015, 9). On April 22, 2015, seven $4,000 $500 $3,000 one $500 3%), two $250, first second April 22, 2015, 9). On January 30, 2015, NV5 12 $5,500 $2,250 $1,250 3.5%), four $313, first, second, third, fourth January 30, 2015, 9), $1,000 (89,968 $1,000 2015. $1,000 $901, December 31, 2016 2015, $375 $500, The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition dates for acquisitions closed during 2016 2015: December 31, December 31, 2016 2015 Cash $ 128 $ 1,033 Accounts receivable 20,221 16,050 Property and equipment 4,301 793 Prepaid expenses 1,336 457 Other assets 841 118 Intangible assets: Customer relationships 26,188 5,833 Trade name 1,922 1,035 Customer backlog 3,898 1,510 Non-compete 1,259 613 Favorable (unfavorable) lease (225 ) 778 Total Assets 59,869 28,220 Liabilities (12,250 ) (13,521 ) Deferred tax liabilities (7,892 ) (2,238 ) Net assets acquired 39,727 12,461 Consideration paid (Cash, Notes and/or stock) 76,011 21,692 Contingent earn-out liability (Cash and stock) 1,417 1,306 Total Consideration 77,428 22,998 Excess consideration over the amounts assigned to the net assets acquired (Goodwill) $ 37,701 $ 10,537 Goodwill was recorded based on the amount by which the purchase price exceeded the fair value of the net assets acquired and the amount is attributable to the reputation of the business acquired, the workforce in place and the synergies to be achieved from these acquisitions. Goodwill acquired of $9,861 $6,700 2016 2015, $27,840 $958 2016 2015, $19,653 $2,640 2016 2015, . The consolidated financial statements of the Company for the years ended December 31, 2016 2016 December 31, 2016. December 31, 2016, $46,172 $3,584, December 31, 2015 2015 December 31, 2015. December 31, 2015, $36,790 $4,964, December 31, 2014 2014 December 31, 2014. December 31, 2014, $27,400 $1,100, December 31, 2016, 2015 2014 $1,171, $719 $292, The following table presents the unaudited, pro forma consolidated results of operations (in thousands, except per share amounts) for the years ended December 31, 2016 2015 January 1, 2015. January 1, 2015; For the year ended December 31, December 31, 2016 2015 Gross revenues $ 266,801 $ 261,316 Net income $ 14,273 $ 10,197 Basic earnings per share $ 1.54 $ 1.51 Diluted earnings per share $ 1.48 $ 1.41 The Company determined that neither the Mendoza, Allwyn, Weir, Hanna and CivilSource acquisitions constitute significant business combinations individually or in the aggregate. Therefore, pro forma financial statements are not required to be disclosed. |
Note 5 - Accounts Receivable, N
Note 5 - Accounts Receivable, Net | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 5 Accounts Receivable, net December 31, December 31, 2016 2015 Billed $ 53,756 $ 32,806 Unbilled 23,237 15,678 Contract retentions 510 799 77,503 49,283 Less: allowance for doubtful accounts (1,992 ) (1,536 ) Accounts receivable, net $ 75,511 $ 47,747 12 Activity in the allowance for doubtful accounts consisted of the following: December 31, December 31, 2016 2015 Balance as of the beginning of the year $ 1,536 $ 845 Provision for doubtful accounts 138 164 Write-offs of uncollectible accounts (60 ) (269 ) Other (1) 378 796 Balance as of the end of the year $ 1,992 $ 1,536 (1) |
Note 6 - Property and Equipment
Note 6 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6 December 31, December 31, 2016 2015 Office furniture and equipment $ 1,329 $ 459 Computer equipment 6,808 3,165 Survey and field equipment 1,426 1,265 Leasehold improvements 1,583 1,165 11,146 6,054 Accumulated depreciation (4,463 ) (2,963 ) Property and equipment – net $ 6,683 $ 3,091 Depreciation expense for the years ended December 31, 2016, 2015 2014 $1,679, $844 $561, |
Note 7 - Goodwill and Intangibl
Note 7 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | Note 7 Goodwill The table set forth below shows the change in goodwill during 2016 2015: December 31, December 31, 2016 2015 Balance as of the beginning of the year $ 21,679 $ 11,142 Acquisitions 37,701 10,537 Balance as of the end of the period $ 59,380 $ 21,679 As of December 31, 2016, $25,678 $33,702 , respectively. As of December 31, 2015, $15,817 $5,862 , respectively. See Note 16 Intangible assets Intangible assets, net, at December 31, 2016 2015 December 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Customer relationships $ 38,801 $ (5,746 ) $ 33,055 $ 12,614 $ (3,643 ) $ 8,971 Trade name 4,185 (2,746 ) 1,439 2,262 (1,626 ) 636 Customer backlog 6,607 (2,284 ) 4,323 2,709 (1,420 ) 1,289 Favorable lease 553 (158 ) 395 778 (44 ) 734 Non-compete 2,546 (897 ) 1,649 1,286 (549 ) 737 Total $ 52,692 $ (11,831 ) $ 40,861 $ 19,649 $ (7,282 ) $ 12,367 Trade names are amortized on a straight-line basis over their estimated lives ranging from 1 3 1 9 4 5 9 The following table summarizes the weighted average useful lives of intangible assets acquired during 2016 2015: 2016 2015 Customer relationships 10.9 10.0 Trade name 1.3 1.7 Customer backlog 6.4 5.2 Favorable leases 5.9 8.8 Non-compete 4.6 3.9 Amortization expense for the years ended December 31, 2016, 2015 2014 $4,549, $2,624 $1,427, As of December 31, 2016, Period ending December 31, 2017 $ 6,785 2018 4,891 2019 4,557 2020 3,957 2021 3,710 Thereafter 16,961 Total $ 40,861 |
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Accrued Liabilities Disclosure [Text Block] | Note 8 December 31, December 31, 2016 2015 Deferred rent $ 696 $ 615 Payroll and related taxes 4,518 3,131 Professional liability reserve 190 216 Benefits 1,673 639 Accrued vacation 5,327 2,994 Unreognized tax benefits 770 570 Other 4,142 1,399 Total $ 17,316 $ 9,564 |
Note 9 - Notes Payable
Note 9 - Notes Payable | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9 and Other Obligations Notes payable and other obligations consists of the following: December 31, December 31, 2016 2015 Note Payable $ 278 $ 754 Other Obligations 6,047 - Uncollateralized promisory notes 26,071 9,953 Total Notes Payable and Other Obligations 32,396 10,707 Current portion of notes payable and other obligations (10,764 ) (4,347 ) Notes payable and other obligations, less current portion $ 21,632 $ 6,360 Senior Credit Facility On December 7, 2016, five $80,000 $60 ,000. $5 ,000 $15,000 . The proceeds of the Senior Credit Facility are intended to be used (i) to finance permitted acquisitions, (ii) for capital expenditures, and (iii) for general corporate purposes. Borrowings under the Credit Agreement are at variable rates which are, at our option, tied to a Eurocurrency rate equal to LIBOR (London Interbank Offered Rate) plus an applicable rate or a base rate denominated in U.S. dollars. Interest rates are subject to change based on our Consolidated Senior Leverage Ratio (as defined in the Credit Agreement). The Senior Credit Facility contains certain financial covenants, including a maximum leverage ratio of 3.0:1 1.20:1. also contains financial reporting covenant provisions and other covenants, representations, warranties, indemnities, and events of default that are customary for facilities of this type. As of December 31, 2016, December 31, 2016, $0 Note Payable The note held by the seller of Nolte Associates Inc. (the “Nolte Note”) is currently outstanding with a maturity date of July 29, 2017. 1%, 7.0%. December 31, 2016 2015, 4.25% $100 December 31, 2016 2015, $278 $754, Other Obligations On November 30, 2016, $1,200 two $600, first second November 30, 2016. $600 $0 December 31, 2016 2015, On October 26, 2016, $2,600 two $1,300, first second October 26, 2016. $2,600 $0 December 31, 2016 2015, On May 20, 2016, $3,000 three $1,000, first, second third May 20, 2016. $3,000 $0 December 31, 2016 2015, Uncollateralized Promissory Notes On December 6, 2016, $3,500 3. 0% four $875, first, second, third fourth December 6, 2016, $3,500 0 December 31, 2016 2015, On November 30, 2016, $2,700 3. 0% four $675, first, second, third fourth November 30, 2016, $2,700 0 December 31, 2016 2015, On October 26, 2016, $7,000 3. 0% five $1,400, first, second, third, fourth fifth October 26, 2016, $7,000 0 December 31, 2016 2015, On September 12, 2016, $500 3. 0% four $125, first, second, third fourth September 12, 2016, $500 0 December 31, 2016 2015, On May 20, 2016, $6,000 3.0% four $1,500 first, second, third, fourth May 20, 2016, $6,000 $0 December 31, 2016 2015, On July 1, 2015, $4,000 3.0% four $1,000 first, second, third, fourth July 1, 2015, $3,000 $4,000 December 31, 2016 2015, On June 24, 2015, $500 3.5% three $167 first, second third June 24, 2015, $333 $500 December 31, 2016 2015, On April 22, 2015, $3,000 one $500 3% two $250 first second April 22, 2015, $278 $250 $500, December 31, 2016 2015, On January 30, 2015, $1,250 3.5% four $313 first, second, third, fourth January 30, 2015, $938 $1,250 December 31, 2016 2015, On November 3, 2014, 3% $300 three $100 first, second third November 3, 2014, $100 $200 December 31, 2016 2015, On June 30, 2014, $450 3.75%. two $225 first second June 30, 2014, $0 $221 December 31, 2016 2015, On March 21, 2014, NV5, an uncollateralized $3,000 3.0% three $1,000 first, second third March 21, 2014, $1,000 $2,000 December 31, 2016 2015, On January 31, 2014, $300 3.75%. two $150 first second January 31, 2014, December 31, 2016 2015, $0 $150, On April 30, 2013, $200, 4.0%, three $67 first, second third April 30, 2013, $0 $67, December 31, 2016 2015, Future contractual maturities of long-term debt as of December 31, 2016 Period ending December 31, 2017 $ 10,764 2018 8,814 2019 6,847 2020 4,575 2021 1,396 Total $ 32,396 As of December 31, 2016 2015, 2 |
Note 10 - Contingent Considerat
Note 10 - Contingent Consideration | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | Note 10 Contingent Consideration The following table summarizes the changes in the carrying value of estimated contingent consideration: December 31, December 31, 2016 2015 Contingent consideration, beginning of the year $ 1,279 $ 941 Additions for acquisitions 1,417 1,306 Reduction of liability for payments made (458 ) (633 ) Increase (reduction) of liability related to re-measurement of fair value 201 (335 ) Total contingent consideration, end of the period 2,439 1,279 Current portion if contingent consideration (564 ) (458 ) Contingent consideration, less current portion $ 1,875 $ 821 |
Note 11 - Leases
Note 11 - Leases | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | Note 11 The Company leases various office facilities from unrelated parties. These leases expire through 2031 December 31, 2015 2014, one recognized lease expense of $6,751, $4,049 $2,668 December 31, 2016, 2015 2014, $24 $58 December 31, 2015 2014, Future minimum payments under the non-cancelable operating leases as of December 31, 2016 Period ending December 31, Amount 2017 $ 7,085 2018 5,391 2019 3,728 2020 3,141 2021 7,286 Thereafter 10,833 Total minimum lease payments $ 37,464 |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 12 Litigation, Claims and Assessments The Company is subject to certain claims and lawsuits typically filed against the engineering, consulting and construction profession, alleging primarily professional errors or omissions. The Company carries professional liability insurance, subject to certain deductibles and policy limits, against such claims. However, in some actions, parties are seeking damages that exceed our insurance coverage or for which we are not insured. While management does not believe that the resolution of these claims will have a material adverse effect, individually or in aggregate, on its financial position, results of operations or cash flows, management acknowledges the uncertainty surrounding the ultimate resolution of these matters. The Company’s office leases are classified as operating leases and rent expense is included in facilities and facilities related expense in the Company’s Consolidated Statements of Net Income and Comprehensive Income. Some lease terms include rent and other concessions and rent escalation clauses which are included in computing minimum lease payments. Minimum lease payments are recognized on a straight-line basis over the minimum lease term. The variance of rent expense recognized from the amounts contractually due pursuant to the underlying leases is included in accrued liabilities in the Company’s consolidated balance sheets. |
Note 13 - Stock-based Compensat
Note 13 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 13 In October 2011, 2011 March 2013 “2011 2011 may December 31, 2016, 619,153 2011 January 1 2014 2023, 3.5% December 31, two four December 31, 2016 The following table summarizes the status of restricted stock awards as of December 31, 2016 2015, December 31, 2016: Number of Unvested Restricted Shares of Common Stock and Restricted Stock Units Weighted Average Grant Date Fair Value Unvested shares as of January 1, 2016 430,816 $ 13.08 Granted 200,622 $ 26.31 Vested (109,503 ) $ 8.12 Forfeited (19,162 ) $ 15.49 Unvested shares as of December 31, 2016 502,773 $ 19.35 Share-based compensation expense relating to restricted stock awards during the years ended December 31, 2016, 2015 2014 $2,343, $1,696 $752, $6,252 2.6 December 31, 2016. |
Note 14 - Employee Benefit Plan
Note 14 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 14 401(k) “401(k) may 401(k) 401(k) 401(k) may The Company contributed $960, $420 $309, 401(k) December 31, 2016, 2015 2014, |
Note 15 - Income Taxes
Note 15 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 15 Income tax expense (benefit) for the years ended December 31, 2016, 2015 2014 Year Ended December 31, December 31, December 31, 2016 2015 2014 Current: Federal $ 6,646 $ 4,557 $ 2,520 State 1,730 1,104 309 Total current income tax expense 8,376 5,661 2,829 Deferred: Federal (1,452 ) (565 ) 190 State (385 ) (101 ) 57 Total deferred income tax (benefit) (1,837 ) (666 ) 247 Total income tax expense $ 6,539 $ 4,995 $ 3,076 Temporary differences comprising the net deferred income tax asset (liability) shown in the Company’s consolidated balance sheets were as follows: December 31, December 31, 2016 2015 Deferred tax asset: Allowance for doubtful accounts $ 580 $ 430 Accrued compensation 2,548 1,722 Deferred rent 296 295 State income taxes 938 251 Other 138 161 Total deferred tax asset 4,500 2,859 Deferred tax liability: Acquired intangibles $ (7,682 ) $ (2,129 ) Cash to accrual adjustment (2,057 ) - Depreciation and amortization (907 ) (699 ) Other (51 ) (173 ) Total deferred tax liability (10,697 ) (3,001 ) Net deferred tax liability $ (6,197 ) $ (142 ) Total income tax expense (benefit) was different than the amount computed by applying the Federal statutory rate as follows: Year Ended December 31, December 31, December 31, 2016 2015 2014 Tax at federal statutory rate $ 6,351 $ 4,586 $ 2,709 State taxes, net of Federal benefit 960 742 392 Federal and state tax credits (165 ) (200 ) (283 ) Changes in unrecognized tax position 50 20 550 Domestic production activities deduction (602 ) (312 ) (230 ) Other permanent differences, net (55 ) 159 (62 ) Total income tax expense $ 6,539 $ 4,995 3,076 As of December 31, 2016, $2,173 $8,370. December 31, 2015, $1,440 $1,582. December 31, 2016 December 31, 2015 December 31, 2016 $7,892 The Company’s consolidated effective income tax rate was 36.0% 37.0% December 31, 2016 2015, 39.0% 2016 2015 38.6% December 31, 2014. 39.0% 2013 third 2014. The Company evaluates tax positions for recognition using a more-likely-than-not recognition threshold, and those tax positions eligible for recognition are measured as the largest amount of tax benefit that is greater than 50% 2005 2014 . Fiscal years 2005 2015 2013 2015 fourth 2016, 2014. At December 31, 2016, $770 2016 $770 12 December 31, December 31, 2016 2015 Balance, beginning of period $ 570 $ 550 Additions based on tax positions related to the current year 16 15 Additions for tax positions of prior years 84 5 Additions due to acquistions 150 - Reductions for positions of prior years (50 ) - Balance, end of period $ 770 $ 570 |
Note 16 - Reportable Segments
Note 16 - Reportable Segments | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 16 The Company reports segment information in accordance with ASC Topic No. 280 Segment Reporting” 280”). five 2016, two The Company evaluates the performance of these reportable segments based on their respective operating income before the effect of amortization expense related to acquisitions and other unallocated corporate expenses. The Company accounts for inter-segment revenues and transfers as if the sales and transfers were to third The following tables set forth summarized financial information concerning our reportable segments. Prior period segment financial information presented has been recast to reflect the reorganized reporting structure: Year Ended December 31, December 31, December 31, 2016 2015 2014 Gross revenues INF $ 159,514 $ 133,938 $ 98,357 BES 69,218 21,979 10,730 Elimination of inter-segment revenues (4,822 ) (1,262 ) (705 ) Total gross revenues $ 223,910 $ 154,655 $ 108,382 Segment income before taxes INF $ 27,688 $ 19,010 $ 13,989 BES 7,847 6,181 2,197 Total Segment income before taxes 35,535 25,191 16,186 Corporate (1) (17,389 ) (11,704 ) (8,217 ) Total income before taxes $ 18,146 $ 13,487 $ 7,969 (1) Includes amortization of intangibles of $4,549, $2,624 $1,427 December 31, 2016, 2015 2014, December 31, December 31, 2016 2015 Assets INF $ 100,481 $ 72,331 BES 83,328 12,933 Corporate (1) 39,850 26,505 Total assets $ 223,659 $ 111,769 (1) Corporate assets consist of intercomany eliminations and assets not allocated to segments including cash and cash equivalents, deferred income taxes and certain other assets. |
Note 17 - Quarterly Financial I
Note 17 - Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | Note 17 Management believes the following unaudited quarterly financial information for the years ended December 31, 2016 2015, 2016 2015 4). Year Ended December 31, 2016 First Second Third Fourth Quarter Quarter Quarter Quarter Gross revenues $ 44,905 $ 55,892 $ 60,091 $ 63,022 Gross profit $ 22,824 $ 26,209 $ 27,656 $ 30,891 Income from operations $ 3,322 $ 4,589 $ 5,475 $ 5,017 Income before income tax expense $ 3,253 $ 4,518 $ 5,394 $ 4,981 Net income and comprehensive income $ 2,055 $ 2,859 $ 3,404 $ 3,289 Basic earnings per share $ 0.27 $ 0.33 $ 0.34 $ 0.33 Diluted earnings per share $ 0.25 $ 0.31 $ 0.33 $ 0.31 Year Ended December 31, 2015 First Second Third Fourth Quarter Quarter Quarter Quarter Gross revenues $ 29,153 $ 34,481 $ 48,701 $ 42,320 Gross profit $ 12,885 $ 15,371 $ 21,531 $ 18,991 Income from operations $ 1,782 $ 2,763 $ 4,947 $ 4,207 Income before income tax expense $ 1,714 $ 2,729 $ 4,869 $ 4,175 Net income and comprehensive income $ 1,085 $ 1,733 $ 3,002 $ 2,672 Basic earnings per share $ 0.20 $ 0.28 $ 0.40 $ 0.35 Diluted earnings per share $ 0.18 $ 0.25 $ 0.38 $ 0.33 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation [Policy Text Block] | Basis of Presentation and Principles of Consolidation The consolidated financial statements of the Company are presented in U.S. dollars in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. These estimates and assumptions are based on management’s most recent assessment of underlying facts and circumstances using the most recent information available. Actual results could differ significantly from these estimates and assumptions, and the differences could be material. Estimates and assumptions are evaluated periodically and adjusted when necessary. The more significant estimates affecting amounts reported in the consolidated financial statements relate to the fair value estimates used in accounting for business combinations including the valuation of identifiable intangible assets and contingent consideration, fair value estimates in determining the fair value of the Company’s reporting units for goodwill impairment assessment, revenue recognition on the percentage-of-completion method, allowances for uncollectible accounts and provision for income taxes. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include cash on deposit with financial institutions and investments in high quality overnight money market funds, all of which have maturities of three may |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Trade receivable balances carried by the Company are comprised of accounts from a diverse client base across a broad range of industries and are not collateralized. However, approximately 34%, 42% 45% December 31, 2016, 2015 2014. 10% 2016 2015. 2014, two 21% Furthermore, approximately 46% 63% December 31, 2016 2015 |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three Level 1 Level 2 Level 3 The Company considers cash and cash equivalents, accounts receivable, accounts payable, income taxes payable, accrued liabilities and debt obligations to meet the definition of financial instruments. As of December 31, 2016 2015, The Company applies the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, Business Combinations third 2016 2015 2016 2015 Several factors are considered when determining contingent consideration liabilities as part of the purchase price, including whether (i) the valuation of the acquisitions is not supported solely by the initial consideration paid, and the contingent earn-out formula is a critical and material component of the valuation approach to determining the purchase price; and (ii) the former owners of the acquired companies that remain as key employees receive compensation other than contingent earn-out payments at a reasonable level compared with the compensation of other key employees. The contingent earn-out payments are not affected by employment termination. We review and re-assess the estimated fair value of contingent consideration liabilities on a quarterly basis, and the updated fair value could differ materially from the initial estimates. Adjustments to the estimated fair value related to changes in all other unobservable inputs are reported in operating income. The Company measures contingent consideration recognized in connection with business combinations at fair value on a recurring basis using significant unobservable inputs classified within Level 3, 10). |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment is stated at cost. Property and equipment acquired in a business combination is stated at fair value at the acquisition date. The Company capitalizes the cost of improvements to property and equipment that increase the value or extend the useful lives of the assets. Normal repair and maintenance costs are expensed as incurred. Depreciation and amortization is computed on a straight-line basis over the following estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the lesser of their estimated useful lives or the remaining terms of the related lease agreement. Asset Depreciation Period Office furniture and equipment 5 Years Computer equipment 3 Years Survey and field equipment 5 Years Leasehold improvements Lesser of the estimated useful lives or remaining term of the lease Property and equipment balances are periodically reviewed by management for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not December 31, 2016, 2015 2014. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Intangible Assets Goodwill is the excess of consideration paid for an acquired entity over the amounts assigned to assets acquired, including other identifiable intangible assets and liabilities assumed in a business combination. To determine the amount of goodwill resulting from a business combination, the Company performs an assessment to determine the acquisition date fair value of the acquired company’s tangible and identifiable intangible assets and liabilities. Goodwill is required to be evaluated for impairment on an annual basis or whenever events or changes in circumstances indicate the asset may first two two NV5 August 1 Identifiable intangible assets primarily include customer backlog, customer relationships, trade names and non-compete agreements. Amortizable intangible assets are amortized on a straight-line basis over their estimated useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the assets may See Note 7 |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. In accordance with the FASB ASC 260, Earnings per Share December 31, 2016, 2015 2014 489,553, 413,088 607,906 2010. December 31, 2016, 2015 2014 December 31, 2016, 2015 2014, The following table represents a reconciliation of the net income and weighted average shares outstanding for the calculation of basic and diluted earnings per share for the years ended December 31, 2016, 2015 2014: Year Ended December 31 December 31 December 31 2016 2015 2014 Numerator: Net income – basic and diluted $ 11,607 $ 8,492 $ 4,893 Denominator: Basic weighted average shares outstanding 9,125,167 6,773,135 5,102,058 Effect of dilutive non-vested restricted shares and units 213,907 332,014 326,660 Effect of issuable shares related to acquisitions 80,779 12,759 30,666 Effect of warrants 120,198 97,990 132,626 Diluted weighted average shares outstanding 9,540,051 7,215,898 5,592,010 |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company enters into contracts with its clients that contain two Cost-reimbursable contracts two • Time and materials contracts are common for smaller scale professional and technical consulting and certification services projects. Under these types of contracts, there is no predetermined fee. Instead, the Company negotiates hourly billing rates and charges the clients based upon actual hours expended on a project. In addition, any direct project expenditures are passed through to the client and are typically reimbursed. These contracts may • Cost-plus contracts are the predominant contracting method used by U.S. federal, state, and local governments. These contracts provide for reimbursement of the actual costs and overhead (at predetermine rates) incurred, plus a predetermined fee. Fixed-price contracts. two • Lump-sum contracts typically require the performance of all of the work under the contract for a specified lump-sum fee, subject to price adjustments if the scope of the project changes or unforeseen conditions arise. Many of the Company’s lump-sum contracts are negotiated and arise in the design of projects with a specified scope and project deliverables. • Fixed-unit price contracts typically require the performance of an estimated number of units of work at an agreed price per unit, with the total payment under the contract determined by the actual number of units performed. Revenues from engineering services are recognized in accordance with the accrual basis of accounting. Revenues under cost-reimbursable contracts are recognized when services are performed and revenues from fixed-price contracts are recognized on the percentage-of-completion method, generally measured by the direct costs incurred to date as compared to the estimated total direct costs for each contract. The Company includes other direct costs (for example, third may If estimated total costs on contracts indicate a loss or reduction to the percentage of total contract revenues recognized to date, these losses or reductions are recognized in the period in which the revisions are known. The cumulative effect of revisions to revenues, estimated costs to complete contracts, including penalties, incentive awards, change orders, claims, anticipated losses and others are recorded in the period in which the revisions are identified and the loss can be reasonably estimated. Such revisions could occur in any reporting period and the effects on the results of operations for that reporting period may Change orders and claims typically result from changes in scope, specifications, design, performance, materials, sites, or period of completion. Costs related to change orders and claims are recognized when incurred. Change orders are included in total estimated contract revenues when it is probable that the change order will result in an addition to the contract value and can be reliably estimated. Federal Acquisition Regulations (“FAR”), which are applicable to the Company’s federal government contracts and may may Unbilled work results when the appropriate contract revenues has been recognized when services are performed or based on the percentage-of-completion accounting method but the revenue recorded has not been billed due to the billing terms defined in the contract. Unbilled amounts as of the reporting date are included within accounts receivable in the accompanying consolidated balance sheets. In certain circumstances, the contract may |
Advertising Costs, Policy [Policy Text Block] | Advertising Advertising costs are charged to expense in the period incurred and amounted to $500, $195 $86 December 31, 2016, 2015 2014, |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Doubtful Accounts The Company records billed and unbilled receivables net of an allowance for doubtful accounts. The allowance is estimated based on management’s evaluation of the contracts involved and the financial condition of clients. Factors the Company considers include, but are not limited to: client type (federal government or commercial client), historical performance, historical collection trends and general economic conditions. The allowance is increased by the Company’s provision for doubtful accounts which is charged against income. All recoveries on receivables previously charged off are credited to the accounts receivable recovery account are included in income, while direct charge-offs of receivables are deducted from the allowance. |
Lease, Policy [Policy Text Block] | Leases The Company’s office leases are classified as operating leases and rent expense is included in facilities and facilities related expense in the Company’s consolidated statements of net income and comprehensive income. Some lease terms include rent and other concessions and rent escalation clauses which are included in computing minimum lease payments. Minimum lease payments are recognized on a straight-line basis over the minimum lease term. The variance of rent expense recognized from the amounts contractually due pursuant to the underlying leases is included in accrued liabilities in the Company’s consolidated balance sheets. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with ASC Topic No. 740 Income Taxes 740”). The Company recognizes the consolidated financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely-than-not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50 |
Note 2 - Summary of Significa25
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Property Plant and Equipment, Estimated Useful Life [Table Text Block] | Asset Depreciation Period Office furniture and equipment 5 Years Computer equipment 3 Years Survey and field equipment 5 Years Leasehold improvements Lesser of the estimated useful lives or remaining term of the lease |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31 December 31 December 31 2016 2015 2014 Numerator: Net income – basic and diluted $ 11,607 $ 8,492 $ 4,893 Denominator: Basic weighted average shares outstanding 9,125,167 6,773,135 5,102,058 Effect of dilutive non-vested restricted shares and units 213,907 332,014 326,660 Effect of issuable shares related to acquisitions 80,779 12,759 30,666 Effect of warrants 120,198 97,990 132,626 Diluted weighted average shares outstanding 9,540,051 7,215,898 5,592,010 |
Note 4 - Business Acquisitions
Note 4 - Business Acquisitions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | December 31, December 31, 2016 2015 Cash $ 128 $ 1,033 Accounts receivable 20,221 16,050 Property and equipment 4,301 793 Prepaid expenses 1,336 457 Other assets 841 118 Intangible assets: Customer relationships 26,188 5,833 Trade name 1,922 1,035 Customer backlog 3,898 1,510 Non-compete 1,259 613 Favorable (unfavorable) lease (225 ) 778 Total Assets 59,869 28,220 Liabilities (12,250 ) (13,521 ) Deferred tax liabilities (7,892 ) (2,238 ) Net assets acquired 39,727 12,461 Consideration paid (Cash, Notes and/or stock) 76,011 21,692 Contingent earn-out liability (Cash and stock) 1,417 1,306 Total Consideration 77,428 22,998 Excess consideration over the amounts assigned to the net assets acquired (Goodwill) $ 37,701 $ 10,537 |
Business Acquisition, Pro Forma Information [Table Text Block] | For the year ended December 31, December 31, 2016 2015 Gross revenues $ 266,801 $ 261,316 Net income $ 14,273 $ 10,197 Basic earnings per share $ 1.54 $ 1.51 Diluted earnings per share $ 1.48 $ 1.41 |
Note 5 - Accounts Receivable,27
Note 5 - Accounts Receivable, Net (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, December 31, 2016 2015 Billed $ 53,756 $ 32,806 Unbilled 23,237 15,678 Contract retentions 510 799 77,503 49,283 Less: allowance for doubtful accounts (1,992 ) (1,536 ) Accounts receivable, net $ 75,511 $ 47,747 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | December 31, December 31, 2016 2015 Balance as of the beginning of the year $ 1,536 $ 845 Provision for doubtful accounts 138 164 Write-offs of uncollectible accounts (60 ) (269 ) Other (1) 378 796 Balance as of the end of the year $ 1,992 $ 1,536 |
Note 6 - Property and Equipme28
Note 6 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, December 31, 2016 2015 Office furniture and equipment $ 1,329 $ 459 Computer equipment 6,808 3,165 Survey and field equipment 1,426 1,265 Leasehold improvements 1,583 1,165 11,146 6,054 Accumulated depreciation (4,463 ) (2,963 ) Property and equipment – net $ 6,683 $ 3,091 |
Note 7 - Goodwill and Intangi29
Note 7 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | December 31, December 31, 2016 2015 Balance as of the beginning of the year $ 21,679 $ 11,142 Acquisitions 37,701 10,537 Balance as of the end of the period $ 59,380 $ 21,679 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Customer relationships $ 38,801 $ (5,746 ) $ 33,055 $ 12,614 $ (3,643 ) $ 8,971 Trade name 4,185 (2,746 ) 1,439 2,262 (1,626 ) 636 Customer backlog 6,607 (2,284 ) 4,323 2,709 (1,420 ) 1,289 Favorable lease 553 (158 ) 395 778 (44 ) 734 Non-compete 2,546 (897 ) 1,649 1,286 (549 ) 737 Total $ 52,692 $ (11,831 ) $ 40,861 $ 19,649 $ (7,282 ) $ 12,367 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | 2016 2015 Customer relationships 10.9 10.0 Trade name 1.3 1.7 Customer backlog 6.4 5.2 Favorable leases 5.9 8.8 Non-compete 4.6 3.9 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Period ending December 31, 2017 $ 6,785 2018 4,891 2019 4,557 2020 3,957 2021 3,710 Thereafter 16,961 Total $ 40,861 |
Note 8 - Accrued Liabilities (T
Note 8 - Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, December 31, 2016 2015 Deferred rent $ 696 $ 615 Payroll and related taxes 4,518 3,131 Professional liability reserve 190 216 Benefits 1,673 639 Accrued vacation 5,327 2,994 Unreognized tax benefits 770 570 Other 4,142 1,399 Total $ 17,316 $ 9,564 |
Note 9 - Notes Payable (Tables)
Note 9 - Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | December 31, December 31, 2016 2015 Note Payable $ 278 $ 754 Other Obligations 6,047 - Uncollateralized promisory notes 26,071 9,953 Total Notes Payable and Other Obligations 32,396 10,707 Current portion of notes payable and other obligations (10,764 ) (4,347 ) Notes payable and other obligations, less current portion $ 21,632 $ 6,360 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Period ending December 31, 2017 $ 10,764 2018 8,814 2019 6,847 2020 4,575 2021 1,396 Total $ 32,396 |
Note 10 - Contingent Consider32
Note 10 - Contingent Consideration (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | December 31, December 31, 2016 2015 Contingent consideration, beginning of the year $ 1,279 $ 941 Additions for acquisitions 1,417 1,306 Reduction of liability for payments made (458 ) (633 ) Increase (reduction) of liability related to re-measurement of fair value 201 (335 ) Total contingent consideration, end of the period 2,439 1,279 Current portion if contingent consideration (564 ) (458 ) Contingent consideration, less current portion $ 1,875 $ 821 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Period ending December 31, Amount 2017 $ 7,085 2018 5,391 2019 3,728 2020 3,141 2021 7,286 Thereafter 10,833 Total minimum lease payments $ 37,464 |
Note 13 - Stock-based Compens34
Note 13 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Number of Unvested Restricted Shares of Common Stock and Restricted Stock Units Weighted Average Grant Date Fair Value Unvested shares as of January 1, 2016 430,816 $ 13.08 Granted 200,622 $ 26.31 Vested (109,503 ) $ 8.12 Forfeited (19,162 ) $ 15.49 Unvested shares as of December 31, 2016 502,773 $ 19.35 |
Note 15 - Income Taxes (Tables)
Note 15 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, December 31, December 31, 2016 2015 2014 Current: Federal $ 6,646 $ 4,557 $ 2,520 State 1,730 1,104 309 Total current income tax expense 8,376 5,661 2,829 Deferred: Federal (1,452 ) (565 ) 190 State (385 ) (101 ) 57 Total deferred income tax (benefit) (1,837 ) (666 ) 247 Total income tax expense $ 6,539 $ 4,995 $ 3,076 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, December 31, 2016 2015 Deferred tax asset: Allowance for doubtful accounts $ 580 $ 430 Accrued compensation 2,548 1,722 Deferred rent 296 295 State income taxes 938 251 Other 138 161 Total deferred tax asset 4,500 2,859 Deferred tax liability: Acquired intangibles $ (7,682 ) $ (2,129 ) Cash to accrual adjustment (2,057 ) - Depreciation and amortization (907 ) (699 ) Other (51 ) (173 ) Total deferred tax liability (10,697 ) (3,001 ) Net deferred tax liability $ (6,197 ) $ (142 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, December 31, December 31, 2016 2015 2014 Tax at federal statutory rate $ 6,351 $ 4,586 $ 2,709 State taxes, net of Federal benefit 960 742 392 Federal and state tax credits (165 ) (200 ) (283 ) Changes in unrecognized tax position 50 20 550 Domestic production activities deduction (602 ) (312 ) (230 ) Other permanent differences, net (55 ) 159 (62 ) Total income tax expense $ 6,539 $ 4,995 3,076 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | December 31, December 31, 2016 2015 Balance, beginning of period $ 570 $ 550 Additions based on tax positions related to the current year 16 15 Additions for tax positions of prior years 84 5 Additions due to acquistions 150 - Reductions for positions of prior years (50 ) - Balance, end of period $ 770 $ 570 |
Note 16 - Reportable Segments (
Note 16 - Reportable Segments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, December 31, December 31, 2016 2015 2014 Gross revenues INF $ 159,514 $ 133,938 $ 98,357 BES 69,218 21,979 10,730 Elimination of inter-segment revenues (4,822 ) (1,262 ) (705 ) Total gross revenues $ 223,910 $ 154,655 $ 108,382 Segment income before taxes INF $ 27,688 $ 19,010 $ 13,989 BES 7,847 6,181 2,197 Total Segment income before taxes 35,535 25,191 16,186 Corporate (1) (17,389 ) (11,704 ) (8,217 ) Total income before taxes $ 18,146 $ 13,487 $ 7,969 December 31, December 31, 2016 2015 Assets INF $ 100,481 $ 72,331 BES 83,328 12,933 Corporate (1) 39,850 26,505 Total assets $ 223,659 $ 111,769 |
Note 17 - Quarterly Financial37
Note 17 - Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Year Ended December 31, 2016 First Second Third Fourth Quarter Quarter Quarter Quarter Gross revenues $ 44,905 $ 55,892 $ 60,091 $ 63,022 Gross profit $ 22,824 $ 26,209 $ 27,656 $ 30,891 Income from operations $ 3,322 $ 4,589 $ 5,475 $ 5,017 Income before income tax expense $ 3,253 $ 4,518 $ 5,394 $ 4,981 Net income and comprehensive income $ 2,055 $ 2,859 $ 3,404 $ 3,289 Basic earnings per share $ 0.27 $ 0.33 $ 0.34 $ 0.33 Diluted earnings per share $ 0.25 $ 0.31 $ 0.33 $ 0.31 Year Ended December 31, 2015 First Second Third Fourth Quarter Quarter Quarter Quarter Gross revenues $ 29,153 $ 34,481 $ 48,701 $ 42,320 Gross profit $ 12,885 $ 15,371 $ 21,531 $ 18,991 Income from operations $ 1,782 $ 2,763 $ 4,947 $ 4,207 Income before income tax expense $ 1,714 $ 2,729 $ 4,869 $ 4,175 Net income and comprehensive income $ 1,085 $ 1,733 $ 3,002 $ 2,672 Basic earnings per share $ 0.20 $ 0.28 $ 0.40 $ 0.35 Diluted earnings per share $ 0.18 $ 0.25 $ 0.38 $ 0.33 |
Note 1 - Organization and Nat38
Note 1 - Organization and Nature of Business Operations (Details Textual) $ / shares in Units, $ in Thousands | Jun. 03, 2016USD ($)shares | May 18, 2016USD ($)shares | May 13, 2016$ / sharesshares | Mar. 29, 2016shares | Mar. 23, 2016USD ($) | May 28, 2015USD ($)shares | May 22, 2015$ / sharesshares | Jan. 05, 2015USD ($)$ / sharesshares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Mar. 26, 2013shares |
Number of Business Locations | 75 | |||||||||||
Stock Issued During Period, Shares, New Issues | 1,700,000 | 1,644,500 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 255,000 | 214,500 | ||||||||||
Proceeds from Issuance of Common Stock | $ | $ 6,200 | $ 41,000 | $ 29,400 | $ 51,319 | $ 32,068 | |||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||||||||||
Proceeds from Warrant Exercises | $ | $ 3,200 | $ 1,008 | $ 3,186 | $ 5 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 7.80 | |||||||||||
Class of Warrant or Right, Exercised During Period | 408,412 | |||||||||||
Class of Warrant or Right, Percentage of Outstanding Warrants Exercised During Period | 99.00% | |||||||||||
Class of Warrant or Right, Cancelled During Period | 4,002 | |||||||||||
Class of Warrant or Right, Cancelled During Period, Exercise Price | $ / shares | $ 0.01 | |||||||||||
Common Stock [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 1,955,000 | 1,644,500 | ||||||||||
Stock Issued During Period Shares Exercise of Warrants | 140,000 | 408,412 | 600 | |||||||||
Unit Warrant [Member] | Underwriter [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 140,000 | |||||||||||
Proceeds from Warrant Exercises | $ | $ 1,008 | |||||||||||
Stock Issued During Period Shares Exercise of Warrants | 140,000 | |||||||||||
Unit Warrant [Member] | Underwriter [Member] | Common Stock [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||||||||||
Unit Warrant [Member] | Underwriter [Member] | Warrant [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||||||||||
Public Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 1,700,000 | 1,430,000 | ||||||||||
Share Price | $ / shares | $ 26.25 | $ 19.50 | ||||||||||
Over-Allotment Option [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 255,000 |
Note 2 - Summary of Significa39
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Impairment of Long-Lived Assets Held-for-use | $ 0 | $ 0 | $ 0 |
Advertising Expense | $ 500 | $ 195 | $ 86 |
Restricted Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 489,553 | 413,088 | 607,906 |
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | |||
Concentration Risk, Percentage | 34.00% | 42.00% | 45.00% |
Government Contracts Concentration Risk [Member] | Accounts Receivable [Member] | |||
Concentration Risk, Percentage | 46.00% | 63.00% |
Note 2 - Summary of Significa40
Note 2 - Summary of Significant Accounting - Estimated Useful Lives of Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Office Furniture and Equipment [Member] | |
Property and equipment, useful life (Year) | 5 years |
Computer Equipment [Member] | |
Property and equipment, useful life (Year) | 3 years |
Survey and Field Equipment [Member] | |
Property and equipment, useful life (Year) | 5 years |
Leasehold Improvements [Member] | |
Property and equipment, useful life | Lesser of the estimated useful lives or remaining term of the lease |
Note 2 - Summary of Significa41
Note 2 - Summary of Significant Accounting Policies - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net income – basic and diluted | $ 3,289 | $ 3,404 | $ 2,859 | $ 2,055 | $ 2,672 | $ 3,002 | $ 1,733 | $ 1,085 | $ 11,607 | $ 8,492 | $ 4,893 | $ 4,893 |
Basic weighted average shares outstanding (in shares) | 9,125,167 | 6,773,135 | 5,102,058 | 5,102,058 | ||||||||
Effect of dilutive non-vested restricted shares and units (in shares) | 213,907 | 332,014 | 326,660 | |||||||||
Effect of issuable shares related to acquisitions (in shares) | 80,779 | 12,759 | 30,666 | |||||||||
Effect of warrants (in shares) | 120,198 | 97,990 | 132,626 | |||||||||
Diluted weighted average shares outstanding (in shares) | 9,540,051 | 7,215,898 | 5,592,010 | 5,592,010 |
Note 4 - Business Acquisition42
Note 4 - Business Acquisitions (Details Textual) | Dec. 06, 2016USD ($)shares | Nov. 30, 2016USD ($)shares | Oct. 26, 2016USD ($)shares | Sep. 12, 2016USD ($)shares | May 20, 2016USD ($)shares | Feb. 01, 2016USD ($) | Jul. 01, 2015USD ($) | Jun. 24, 2015USD ($) | Apr. 22, 2015USD ($) | Jan. 30, 2015USD ($)shares | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Business Combination, Consideration Transferred | $ 77,428,000 | $ 22,998,000 | |||||||||||
Payments to Acquire Businesses, Gross | 296,000 | 533,000 | $ 233,000 | ||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 1,417,000 | 1,307,000 | 286,000 | ||||||||||
Business Combination, Contingent Consideration, Liability | 2,439,000 | 1,279,000 | 941,000 | ||||||||||
Goodwill, Acquired During Period | 37,701,000 | 10,537,000 | |||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 19,653,000 | 2,640,000 | |||||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 46,172,000 | 36,790,000 | 27,400,000 | ||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | 3,584,000 | 4,964,000 | 1,100,000 | ||||||||||
General and Administrative Expense [Member] | |||||||||||||
Business Combination, Acquisition Related Costs | 1,171,000 | 719,000 | $ 292,000 | ||||||||||
INF [Member] | |||||||||||||
Goodwill, Acquired During Period | 9,861,000 | 6,700,000 | |||||||||||
BES [Member] | |||||||||||||
Goodwill, Acquired During Period | 27,840,000 | 958,000 | |||||||||||
CivilSource, Inc. [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 11,050,000 | ||||||||||||
Payments to Acquire Businesses, Gross | 5,050,000 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,500,000 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 43,139 | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 1,000,000 | ||||||||||||
Business Combination, Contingent Consideration, Liability | 705,000 | 705,000 | |||||||||||
CivilSource, Inc. [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 3,500,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | ||||||||||||
Debt Instrument, Periodic Payment | $ 875,000 | ||||||||||||
The Hanna Group, Inc. [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 10,000,000 | ||||||||||||
Payments to Acquire Businesses, Gross | 4,500,000 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 600,000 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 18,197 | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 1,000,000 | ||||||||||||
Business Combination, Contingent Consideration, Liability | 712,000 | 712,000 | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 1,800,000 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Number of Equal Installments | 3 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Periodic Payments | $ 600,000 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interest Issued and Issuable | $ 1,200,000 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Number of Equal Installments | 2 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Periodic Payments | $ 600,000 | ||||||||||||
The Hanna Group, Inc. [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 2,700,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | ||||||||||||
Debt Instrument, Periodic Payment | $ 675,000 | ||||||||||||
JBA Consulting Engineers, Inc. [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 23,000,000 | ||||||||||||
Payments to Acquire Businesses, Gross | 12,000,000 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,400,000 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 44,947 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable, Periodic Payments | $ 1,300,000 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interest Issued and Issuable | $ 2,600,000 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Number of Equal Installments | 2 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Periodic Payments | $ 1,300,000 | ||||||||||||
JBA Consulting Engineers, Inc. [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 7,000,000 | $ 500,000 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 5 | ||||||||||||
Debt Instrument, Periodic Payment | $ 1,400,000 | ||||||||||||
Weir Environmental LLC [Member] | |||||||||||||
Business Combination, Consideration Transferred | 1,000,000 | ||||||||||||
Payments to Acquire Businesses, Gross | 300,000 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 200,000 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 6,140 | ||||||||||||
Weir Environmental LLC [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 500,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | ||||||||||||
Debt Instrument, Periodic Payment | $ 125,000 | ||||||||||||
Dade Moeller [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 20,000,000 | ||||||||||||
Payments to Acquire Businesses, Gross | 10,000,000 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,000,000 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 36,261 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interest Issued and Issuable | $ 3,000,000 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Number of Equal Installments | 3 | ||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Periodic Payments | $ 1,000,000 | ||||||||||||
Dade Moeller [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 6,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | ||||||||||||
Debt Instrument, Periodic Payment | $ 1,500,000 | ||||||||||||
Sebesta [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 14,000,000 | ||||||||||||
RBA Group Inc. [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 13,000,000 | ||||||||||||
Payments to Acquire Businesses, Gross | 8,000,000 | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 1,000,000 | ||||||||||||
Business Combination, Contingent Consideration, Liability | 406,000 | 647,000 | 446,000 | ||||||||||
Repayments of Debt | 4,000,000 | ||||||||||||
RBA Group Inc. [Member] | Deferred Compensation Plan [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 1,900,000 | ||||||||||||
RBA Group Inc. [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 4,000,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | ||||||||||||
Debt Instrument, Periodic Payment | $ 1,000,000 | ||||||||||||
Allwyn Priorities LLC [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 1,300,000 | ||||||||||||
Payments to Acquire Businesses, Gross | 800,000 | ||||||||||||
Allwyn Priorities LLC [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 500,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 3 | ||||||||||||
Debt Instrument, Periodic Payment | $ 167,000 | ||||||||||||
Richard J. Mendoza, Inc. [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 4,000,000 | ||||||||||||
Payments to Acquire Businesses, Gross | $ 500,000 | ||||||||||||
Business Acquisition, Offices Acquired | 7 | ||||||||||||
Richard J. Mendoza, Inc. [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 500,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 2 | ||||||||||||
Debt Instrument, Periodic Payment | $ 250,000 | ||||||||||||
Richard J. Mendoza, Inc. [Member] | Short-term Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 3,000,000 | ||||||||||||
Joslin Lesser and Associates [Member] | |||||||||||||
Business Combination, Consideration Transferred | $ 5,500,000 | ||||||||||||
Payments to Acquire Businesses, Gross | 2,250,000 | ||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 1,000,000 | ||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 89,968 | ||||||||||||
Business Combination, Contingent Consideration, Liability | $ 901,000 | $ 375,000 | $ 500,000 | ||||||||||
Joslin Lesser and Associates [Member] | Earn Out [Member] | |||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 1,000,000 | ||||||||||||
Joslin Lesser and Associates [Member] | Uncollateralized Promissory Note [Member] | |||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 1,250,000 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | ||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | ||||||||||||
Debt Instrument, Periodic Payment | $ 313,000 |
Note 4 - Business Acquisition43
Note 4 - Business Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash | $ 128 | $ 1,033 | |
Accounts receivable | 20,221 | 16,050 | |
Property and equipment | 4,301 | 793 | |
Prepaid expenses | 1,336 | 457 | |
Other assets | 841 | 118 | |
Favorable (unfavorable) lease | (225) | 778 | |
Total Assets | 59,869 | 28,220 | |
Liabilities | (12,250) | (13,521) | |
Deferred tax liabilities | (7,892) | (2,238) | |
Net assets acquired | 39,727 | 12,461 | |
Consideration paid (Cash, Notes and/or stock) | 76,011 | 21,692 | |
Contingent consideration (earn-out) | 1,417 | 1,307 | $ 286 |
Total Consideration | 77,428 | 22,998 | |
Excess consideration over the amounts assigned to the net assets acquired (Goodwill) | 37,701 | 10,537 | |
Customer Relationships [Member] | |||
Intangible assets | 26,188 | 5,833 | |
Trade Names [Member] | |||
Intangible assets | 1,922 | 1,035 | |
Customer Lists [Member] | |||
Intangible assets | 3,898 | 1,510 | |
Noncompete Agreements [Member] | |||
Intangible assets | $ 1,259 | $ 613 |
Note 4 - Business Acquisition44
Note 4 - Business Acquisitions - Pro Forma Consolidated Results of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Gross revenues | $ 266,801 | $ 261,316 |
Net income | $ 14,273 | $ 10,197 |
Basic earnings per share (in dollars per share) | $ 1.54 | $ 1.51 |
Diluted earnings per share (in dollars per share) | $ 1.48 | $ 1.41 |
Note 5 - Accounts Receivable,45
Note 5 - Accounts Receivable, Net - Components of Accounts Receivable, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts receivable | $ 77,503 | $ 49,283 |
Less: allowance for doubtful accounts | (1,992) | (1,536) |
Accounts receivable, net | 75,511 | 47,747 |
Billed [Member] | ||
Accounts receivable | 53,756 | 32,806 |
Unbilled [Member] | ||
Accounts receivable | 23,237 | 15,678 |
Contract Retentions [Member] | ||
Accounts receivable | $ 510 | $ 799 |
Note 5 - Accounts Receivable,46
Note 5 - Accounts Receivable, Net - Activity in the Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Balance as of the beginning of the year | $ 1,536 | $ 845 | ||
Provision for doubtful accounts | 138 | 164 | $ (136) | |
Write-offs of uncollectible accounts | (60) | (269) | ||
Other | [1] | 378 | 796 | |
Balance as of the end of the year | $ 1,992 | $ 1,536 | $ 845 | |
[1] | Includes allowances from new business acquisitions. |
Note 6 - Property and Equipme47
Note 6 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Depreciation | $ 1,679 | $ 844 | $ 561 |
Note 6 - Property and Equipme48
Note 6 - Property and Equipment, Net - Components of Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property and equipment | $ 11,146 | $ 6,054 |
Accumulated depreciation | (4,463) | (2,963) |
Property and equipment – net | 6,683 | 3,091 |
Furniture and Fixtures [Member] | ||
Property and equipment | 1,329 | 459 |
Computer Equipment [Member] | ||
Property and equipment | 6,808 | 3,165 |
Survey and Field Equipment [Member] | ||
Property and equipment | 1,426 | 1,265 |
Leasehold Improvements [Member] | ||
Property and equipment | $ 1,583 | $ 1,165 |
Note 7 - Goodwill and Intangi49
Note 7 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill | $ 59,380 | $ 21,679 | $ 11,142 |
Amortization of Intangible Assets | $ 4,549 | 2,624 | $ 1,427 |
Trade Names [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Trade Names [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Customer Lists [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Customer Lists [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 9 years | ||
Noncompete Agreements [Member] | Minimum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 4 years | ||
Noncompete Agreements [Member] | Maximum [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||
Off-Market Favorable Lease [Member] | |||
Finite-Lived Intangible Asset, Useful Life | 9 years | ||
INF [Member] | |||
Goodwill | $ 25,678 | 33,702 | |
BES [Member] | |||
Goodwill | $ 15,817 | $ 5,862 |
Note 7 - Goodwill and Intangi50
Note 7 - Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Balance as of the beginning of the year | $ 21,679 | $ 11,142 |
Goodwill, Acquired During Period | 37,701 | 10,537 |
Balance as of the end of the period | $ 59,380 | $ 21,679 |
Note 7 - Goodwill and Intangi51
Note 7 - Goodwill and Intangible Assets - Intangible Assets, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Intangible assets, gross | $ 52,692 | $ 19,649 |
Intangible assets, accumulated amortization | (11,831) | (7,282) |
Intangible assets, net | 40,861 | 12,367 |
Customer Relationships [Member] | ||
Intangible assets, gross | 38,801 | 12,614 |
Intangible assets, accumulated amortization | (5,746) | (3,643) |
Intangible assets, net | 33,055 | 8,971 |
Trade Names [Member] | ||
Intangible assets, gross | 4,185 | 2,262 |
Intangible assets, accumulated amortization | (2,746) | (1,626) |
Intangible assets, net | 1,439 | 636 |
Customer Lists [Member] | ||
Intangible assets, gross | 6,607 | 2,709 |
Intangible assets, accumulated amortization | (2,284) | (1,420) |
Intangible assets, net | 4,323 | 1,289 |
Off-Market Favorable Lease [Member] | ||
Intangible assets, gross | 553 | 778 |
Intangible assets, accumulated amortization | (158) | (44) |
Intangible assets, net | 395 | 734 |
Noncompete Agreements [Member] | ||
Intangible assets, gross | 2,546 | 1,286 |
Intangible assets, accumulated amortization | (897) | (549) |
Intangible assets, net | $ 1,649 | $ 737 |
Note 7 - Goodwill and Intangi52
Note 7 - Goodwill and Intangible Assets - Weighted Average Useful Lives of Intangible Assets (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Customer Relationships [Member] | ||
Weighted Average Useful Life (Year) | 10 years 328 days | 10 years |
Trade Names [Member] | ||
Weighted Average Useful Life (Year) | 1 year 109 days | 1 year 255 days |
Customer Lists [Member] | ||
Weighted Average Useful Life (Year) | 6 years 146 days | 5 years 73 days |
Off-Market Favorable Lease [Member] | ||
Weighted Average Useful Life (Year) | 5 years 328 days | 8 years 292 days |
Noncompete Agreements [Member] | ||
Weighted Average Useful Life (Year) | 4 years 219 days | 3 years 328 days |
Note 7 - Goodwill and Intangi53
Note 7 - Goodwill and Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 6,785 |
2,018 | 4,891 |
2,019 | 4,557 |
2,020 | 3,957 |
2,021 | 3,710 |
Thereafter | 16,961 |
Total | $ 40,861 |
Note 8 - Accrued Liabilities -
Note 8 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred rent | $ 696 | $ 615 | |
Payroll and related taxes | 4,518 | 3,131 | |
Professional liability reserve | 190 | 216 | |
Benefits | 1,673 | 639 | |
Accrued vacation | 5,327 | 2,994 | |
Unreognized tax benefits | 770 | 570 | $ 550 |
Other | 4,142 | 1,399 | |
Total | $ 17,316 | $ 9,564 |
Note 9 - Notes Payable (Details
Note 9 - Notes Payable (Details Textual) | Dec. 07, 2016USD ($) | Dec. 06, 2016USD ($) | Nov. 30, 2016USD ($) | Oct. 26, 2016USD ($) | Sep. 12, 2016USD ($) | May 20, 2016USD ($) | Jul. 01, 2015USD ($) | Jun. 24, 2015USD ($) | Apr. 22, 2015USD ($) | Jan. 30, 2015USD ($) | Nov. 03, 2014USD ($) | Jun. 30, 2014USD ($) | Mar. 21, 2014USD ($) | Jan. 31, 2014USD ($) | Apr. 30, 2013USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Business Combination, Consideration Transferred, Liabilities Incurred | $ 1,417,000 | $ 1,307,000 | $ 286,000 | |||||||||||||||
The Hanna Group, Inc. [Member] | ||||||||||||||||||
Notes Payable | 600,000 | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interest Issued and Issuable | $ 1,200,000 | |||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Number of Equal Installments | 2 | |||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Periodic Payments | $ 600,000 | |||||||||||||||||
JBA Consulting Engineers, Inc. [Member] | ||||||||||||||||||
Notes Payable | 2,600,000 | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interest Issued and Issuable | $ 2,600,000 | |||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Number of Equal Installments | 2 | |||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Periodic Payments | $ 1,300,000 | |||||||||||||||||
Dade Moeller [Member] | ||||||||||||||||||
Notes Payable | 3,000,000 | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interest Issued and Issuable | $ 3,000,000 | |||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Number of Equal Installments | 3 | |||||||||||||||||
Business Combination, Consideration Transferred, Cash and Equity Interests Issued and Issuable, Periodic Payments | $ 1,000,000 | |||||||||||||||||
Note Payable, Former Stockholder of Nolte [Member] | ||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | 100,000 | |||||||||||||||||
Notes Payable | $ 278,000 | $ 754,000 | ||||||||||||||||
Note Payable, Former Stockholder of Nolte [Member] | Prime Rate [Member] | ||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1.00% | |||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.25% | |||||||||||||||||
Note Payable, Former Stockholder of Nolte [Member] | Prime Rate [Member] | Minimum [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 7.00% | |||||||||||||||||
Uncollateralized Promissory Note [Member] | The Hanna Group, Inc. [Member] | ||||||||||||||||||
Notes Payable | $ 2,700,000 | $ 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 2,700,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 675,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | JBA Consulting Engineers, Inc. [Member] | ||||||||||||||||||
Notes Payable | 7,000,000 | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 7,000,000 | $ 500,000 | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 5 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 1,400,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Dade Moeller [Member] | ||||||||||||||||||
Notes Payable | 6,000,000 | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 6,000,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 1,500,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | CivilSource, Inc. [Member] | ||||||||||||||||||
Notes Payable | 3,500,000 | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 3,500,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 875,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Weir Environmental LLC [Member] | ||||||||||||||||||
Notes Payable | 500,000 | 0 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 500,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 125,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | RBA Group Inc. [Member] | ||||||||||||||||||
Notes Payable | 3,000,000 | 4,000,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 4,000,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 1,000,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Allwyn Priorities LLC [Member] | ||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 167,000 | |||||||||||||||||
Notes Payable | 333,000 | 500,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 500,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 3 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 167,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Richard J. Mendoza, Inc. [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.00% | |||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 250,000 | |||||||||||||||||
Notes Payable | 250,000 | 500,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 500,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.00% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 2 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 250,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Joslin Lesser and Associates [Member] | ||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 313,000 | |||||||||||||||||
Notes Payable | 938,000 | 1,250,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 1,250,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 4 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 313,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Buric Companies [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.00% | |||||||||||||||||
Notes Payable | 100,000 | 200,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 300,000 | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 3 | |||||||||||||||||
Debt Instrument, Periodic Payment | $ 100,000 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Owners Representative Services Inc. [Member] | ||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 225,000 | |||||||||||||||||
Notes Payable | 0 | 221,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 450,000 | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 2 | |||||||||||||||||
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 3.75% | |||||||||||||||||
Uncollateralized Promissory Note [Member] | AK Environmental, LLC [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 3.00% | |||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 1,000,000 | |||||||||||||||||
Notes Payable | 1,000,000 | 2,000,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 3,000,000 | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 3 | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Air Quality Consulting Inc [Member] | ||||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 150,000 | |||||||||||||||||
Notes Payable | 0 | 150,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 300,000 | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 2 | |||||||||||||||||
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 3.75% | |||||||||||||||||
Uncollateralized Promissory Note [Member] | Consilium Partners [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Effective Percentage | 4.00% | |||||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 67,000 | |||||||||||||||||
Notes Payable | 0 | 67,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 200,000 | |||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred, Number of Equal Installments | 3 | |||||||||||||||||
Short-term Promissory Note [Member] | Richard J. Mendoza, Inc. [Member] | ||||||||||||||||||
Notes Payable | 278,000 | $ 278,000 | ||||||||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 3,000,000 | |||||||||||||||||
Debt Instrument, Term | 1 year | |||||||||||||||||
Bank of America, N.A. [Member] | Senior Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||||||||||||
Line of Credit Facility, Expiration Period | 5 years | |||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 80,000,000 | |||||||||||||||||
Line of Credit Facility, Additional Maximum Borrowing Capacity | $ 60,000,000 | |||||||||||||||||
Line of Credit Facility, Maximum Leverage Ratio | 3 | |||||||||||||||||
Line of Credit Facility, Minimum Fixed Charge Coverage Ratio | 1.2 | |||||||||||||||||
Long-term Line of Credit | $ 0 | |||||||||||||||||
Bank of America, N.A. [Member] | Senior Credit Facility [Member] | Standby Letters of Credit [Member] | ||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 5,000,000 | |||||||||||||||||
Bank of America, N.A. [Member] | Senior Credit Facility [Member] | Swingline Loans [Member] | ||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 15,000,000 |
Note 9 - Notes Payable - Notes
Note 9 - Notes Payable - Notes Payable (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Notes Payable and Other Obligations | $ 32,396 | $ 10,707 |
Current portion of notes payable and other obligations | (10,764) | (4,347) |
Notes payable and other obligations, less current portion | 21,632 | 6,360 |
Note Payable, Former Stockholder of Nolte [Member] | ||
Notes Payable and Other Obligations | 278 | 754 |
Stock Payable [Member] | ||
Notes Payable and Other Obligations | 6,047 | |
Unsecured Debt [Member] | ||
Notes Payable and Other Obligations | $ 26,071 | $ 9,953 |
Note 9 - Notes Payable - Future
Note 9 - Notes Payable - Future Contractual Maturities of Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
2,017 | $ 10,764 | |
2,018 | 8,814 | |
2,019 | 6,847 | |
2,020 | 4,575 | |
2,021 | 1,396 | |
Total | $ 32,396 | $ 10,707 |
Note 10 - Contingent Consider58
Note 10 - Contingent Consideration - Summary of Contingent Consideration (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Contingent consideration, beginning of the year | $ 1,279 | $ 941 |
Additions for acquisitions | 1,417 | 1,306 |
Reduction of liability for payments made | (458) | (633) |
Increase (reduction) of liability related to re-measurement of fair value | 201 | (335) |
Total contingent consideration, end of the period | 2,439 | 1,279 |
Current portion if contingent consideration | (564) | (458) |
Contingent consideration, less current portion | $ 1,875 | $ 821 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases, Rent Expense | $ 8,012 | $ 4,950 | $ 3,198 |
Investor [Member] | |||
Operating Leases, Rent Expense | 24 | 58 | |
Various Office Facilities [Member] | |||
Operating Leases, Rent Expense | $ 6,751 | $ 4,049 | $ 2,668 |
Note 11 - Leases - Future Minim
Note 11 - Leases - Future Minimum Payments (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 7,085 |
2,018 | 5,391 |
2,019 | 3,728 |
2,020 | 3,141 |
2,021 | 7,286 |
Thereafter | 10,833 |
Total minimum lease payments | $ 37,464 |
Note 13 - Stock-based Compens61
Note 13 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Restricted Stock [Member] | |||
Allocated Share-based Compensation Expense | $ 2,343 | $ 1,696 | $ 752 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 6,252 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 219 days | ||
Equity Plan 2011 [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 619,153 | ||
Rate of Increase Decrease in Shares Authorized for Issuance | 3.50% | ||
Equity Plan 2011 [Member] | Restricted Stock [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||
Equity Plan 2011 [Member] | Restricted Stock [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years |
Note 13 - Stock-based Compens62
Note 13 - Stock-based Compensation - Restricted Stock Awards (Details) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Unvested shares as of (in shares) | shares | 430,816 |
Unvested shares as of (in dollars per share) | $ / shares | $ 13.08 |
Granted (in shares) | shares | 200,622 |
Granted (in dollars per share) | $ / shares | $ 26.31 |
Vested (in shares) | shares | (109,503) |
Vested (in dollars per share) | $ / shares | $ 8.12 |
Forfeited (in shares) | shares | (19,162) |
Forfeited (in dollars per share) | $ / shares | $ 15.49 |
Unvested shares as of (in shares) | shares | 502,773 |
Unvested shares as of (in dollars per share) | $ / shares | $ 19.35 |
Note 14 - Employee Benefit Pl63
Note 14 - Employee Benefit Plan (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 960 | $ 420 | $ 309 |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Deferred Tax Assets, Net, Current | $ 2,173 | $ 1,440 | |
Deferred Tax Liabilities, Net, Noncurrent | 8,370 | 1,582 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | $ 7,892 | $ 2,238 | |
Effective Income Tax Rate Reconciliation, Percent | 36.00% | 37.00% | 38.60% |
Effective Income Tax Rate Reconciliation Federal and State Income Tax Rate Percent | 39.00% | 39.00% | |
Unrecognized Tax Benefits | $ 770 | $ 570 | $ 550 |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 770 | ||
Deferred Tax Assets, Valuation Allowance | 0 | $ 0 | |
JBA and Hanna [Member] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | $ 7,892 |
Note 15 - Income Taxes - Income
Note 15 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current: | |||
Federal | $ 6,646 | $ 4,557 | $ 2,520 |
State | 1,730 | 1,104 | 309 |
Total current income tax expense | 8,376 | 5,661 | 2,829 |
Deferred: | |||
Federal | (1,452) | (565) | 190 |
State | (385) | (101) | 57 |
Total deferred income tax (benefit) | (1,837) | (666) | 247 |
Total income tax expense | $ 6,539 | $ 4,995 | $ 3,076 |
Note 15 - Income Taxes - Net De
Note 15 - Income Taxes - Net Deferred Income Tax Asset (Liability) (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax asset: | ||
Allowance for doubtful accounts | $ 580 | $ 430 |
Accrued compensation | 2,548 | 1,722 |
Deferred rent | 296 | 295 |
State income taxes | 938 | 251 |
Other | 138 | 161 |
Total deferred tax asset | 4,500 | 2,859 |
Deferred tax liability: | ||
Acquired intangibles | (7,682) | (2,129) |
Cash to accrual adjustment | (2,057) | |
Depreciation and amortization | (907) | (699) |
Other | (51) | (173) |
Total deferred tax liability | (10,697) | (3,001) |
Net deferred tax liability | $ (6,197) | $ (142) |
Note 15 - Income Taxes - Inco67
Note 15 - Income Taxes - Income Tax Expense (Benefit) Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Tax at federal statutory rate | $ 6,351 | $ 4,586 | $ 2,709 |
State taxes, net of Federal benefit | 960 | 742 | 392 |
Federal and state tax credits | (165) | (200) | (283) |
Changes in unrecognized tax position | 50 | 20 | 550 |
Domestic production activities deduction | (602) | (312) | (230) |
Other permanent differences, net | (55) | 159 | (62) |
Total income tax expense | $ 6,539 | $ 4,995 | $ 3,076 |
Note 15 - Income Taxes - Unreco
Note 15 - Income Taxes - Unrecognized Tax Liability (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, beginning of period | $ 570 | $ 550 |
Additions based on tax positions related to the current year | 16 | 15 |
Additions for tax positions of prior years | 84 | 5 |
Additions due to acquistions | 150 | |
Reductions for positions of prior years | (50) | |
Balance, end of period | $ 770 | $ 570 |
Note 16 - Reportable Segments69
Note 16 - Reportable Segments (Details Textual) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Amortization of Intangible Assets | $ 4,549 | $ 2,624 | $ 1,427 |
Number of Reportable Segments | 2 | ||
Number of Operating Segments | 2 |
Note 16 - Reportable Segments -
Note 16 - Reportable Segments - Summarized Financial Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Gross revenues | $ 63,022 | $ 60,091 | $ 55,892 | $ 44,905 | $ 42,320 | $ 48,701 | $ 34,481 | $ 29,153 | $ 223,910 | $ 154,655 | $ 108,382 | |
Income before taxes | 4,981 | $ 5,394 | $ 4,518 | $ 3,253 | 4,175 | $ 4,869 | $ 2,729 | $ 1,714 | 18,146 | 13,487 | 7,969 | |
Assets | 223,659 | 111,769 | 223,659 | 111,769 | ||||||||
Operating Segments [Member] | INF [Member] | ||||||||||||
Gross revenues | 159,514 | 133,938 | 98,357 | |||||||||
Income before taxes | 27,688 | 19,010 | 13,989 | |||||||||
Assets | 100,481 | 72,331 | 100,481 | 72,331 | ||||||||
Operating Segments [Member] | BES [Member] | ||||||||||||
Gross revenues | 69,218 | 21,979 | 10,730 | |||||||||
Income before taxes | 7,847 | 6,181 | 2,197 | |||||||||
Assets | 83,328 | 12,933 | 83,328 | 12,933 | ||||||||
Intersegment Eliminations [Member] | ||||||||||||
Gross revenues | (4,822) | (1,262) | (705) | |||||||||
Income before taxes | 35,535 | 25,191 | 16,186 | |||||||||
Corporate, Non-Segment [Member] | ||||||||||||
Income before taxes | [1] | (17,389) | (11,704) | $ (8,217) | ||||||||
Assets | [2] | $ 39,850 | $ 26,505 | $ 39,850 | $ 26,505 | |||||||
[1] | Includes amortization of intangibles of $4,549, $2,624 and $1,427 for the years ended December 31, 2016, 2015 and 2014, respectively. | |||||||||||
[2] | Corporate assets consist of intercomany eliminations and assets not allocated to segments including cash and cash equivalents, deferred income taxes and certain other assets. |
Note 17 - Quarterly Financial71
Note 17 - Quarterly Financial Information (Unaudited) - Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Gross revenues | $ 63,022 | $ 60,091 | $ 55,892 | $ 44,905 | $ 42,320 | $ 48,701 | $ 34,481 | $ 29,153 | $ 223,910 | $ 154,655 | $ 108,382 | |
Gross profit | 30,891 | 27,656 | 26,209 | 22,824 | 18,991 | 21,531 | 15,371 | 12,885 | 107,580 | 68,778 | 45,181 | |
Income from operations | 5,017 | 5,475 | 4,589 | 3,322 | 4,207 | 4,947 | 2,763 | 1,782 | 18,403 | 13,699 | 8,243 | |
Income before taxes | 4,981 | 5,394 | 4,518 | 3,253 | 4,175 | 4,869 | 2,729 | 1,714 | 18,146 | 13,487 | 7,969 | |
Net income – basic and diluted | $ 3,289 | $ 3,404 | $ 2,859 | $ 2,055 | $ 2,672 | $ 3,002 | $ 1,733 | $ 1,085 | $ 11,607 | $ 8,492 | $ 4,893 | $ 4,893 |
Basic earnings per share (in dollars per share) | $ 0.33 | $ 0.34 | $ 0.33 | $ 0.27 | $ 0.35 | $ 0.40 | $ 0.28 | $ 0.20 | $ 1.27 | $ 1.25 | $ 0.96 | |
Diluted earnings per share (in dollars per share) | $ 0.31 | $ 0.33 | $ 0.31 | $ 0.25 | $ 0.33 | $ 0.38 | $ 0.25 | $ 0.18 | $ 1.22 | $ 1.18 | $ 0.87 |