Innovative Stock: Willdan Group, Inc.’s (NASDAQ:WLDN)

On 23 August 2k19, shares of Willdan Group, Inc.’s (NASDAQ:WLDN) stock showed the loss of -0.08% in recent trading period with closing price of $35.63. The shares of WLDN at the moment are trading at a volume of 0.04 million, which compares with its normal daily standard volume of 0.07 million shares. The stock has been behind -12.46% by $40.70 ever since it reached its 52-week low of 22.95%.

Willdan Group, Inc. (WLDN) recently stated financial results for its 2nd quarter ended June 28, 2k19.

2nd quarter 2k19 Summary

  • Consolidated contract revenue of $104.4M, a raise of 74.5%
  • Net revenue of $46.8M, a raise of 36.4%
  • Net income of $1.6M, or $0.14 per diluted share
  • Adjusted diluted earnings per share of $0.43
  • Adjusted EBITDA of $7.6M

For the 2nd quarter of 2k19, Willdan stated consolidated contract revenue of $104.4M and net income of $1.6M, or $0.14 per diluted share. This compares with consolidated contract revenue of $59.8M and net income of $3.3M, or $0.36 per diluted share, for the 2nd quarter of 2k18. For the 2nd quarter of 2k19, Net Revenue, defined as revenue, net of subcontractor services and other direct costs (see “Use of Non-GAAP Financial Measures” below), was $46.8M, up 36.4% contrast to the same period in fiscal year 2k18.

2nd quarter 2k19 Financial Highlights

Consolidated contract revenue for the 2nd quarter of 2k19 was $104.4M, a raise of 74.5% from $59.8M for the 2nd quarter of 2k18. Contract revenue for the Energy section was $85.3M for the 2nd quarter of 2k19, a raise of 104.4% from the 2nd quarter of 2k18, which was primarilyBecause of incremental revenue from the acquisitions of Lime Energy Co. (“Lime Energy”), Newcomb Anderson McCormick (“NAM”) and The Weidt Group Inc. (“The Weidt Group”). Contract revenue for the Engineering and Consulting section was $19.1M, a raise of 5.6% from the 2nd quarter of 2k18 primarily Because of increased consulting work for cities and counties.

Net Revenue for the 2nd quarter of 2k19 was $46.8M, a raise of 36.4% from $34.3M for the 2nd quarter of 2k18. The increase was primarily Because of incremental revenue from the acquisitions of Lime Energy, NAM, and The Weidt Group. Net Revenue in the Energy section was $32.4M for the 2nd quarter of 2k19, a raise of 60.2% over the same period last year. Net Revenue in the Engineering and Consulting section was $14.4M for the 2nd quarter of 2k19, a raise of 2.2% over the same period last year.

Direct costs of contract revenue were $73.2M for the 2nd quarter of 2k19, a raise of 99.7%, from $36.7M for the 2nd quarter of 2k18. The increase was primarily related to incremental direct costs from the acquisition of Lime Energy.

Total general and administrative expenses for the 2nd quarter of 2k19 was $28.4M, a raise of 49.7% from $19.0M for the 2nd quarter of 2k18, driven primarily by increased costs related to personnel added through the acquisitions of Lime Energy, NAM, and The Weidt Group.

Six Months 2k19 Financial Highlights

Consolidated contract revenue for the six months ended June 28, 2k19 was $196.2M, a raise of 71.5% from $114.4M for the six months ended June 29, 2k18. Contract revenue for the Energy section was $160.0M for the six months ended June 28, 2k19, a raise of 102.4%, which was primarily Because of incremental revenue from the acquisitions of Lime Energy, NAM, and The Weidt Group. Contract revenue for the Engineering and Consulting section was $36.2M, a raise of 2.4% from the six months ended June 29, 2k18.

Net Revenue for the six months ended June 28, 2k19 was $87.6M, a raise of 35.2% from $64.8M for the six months ended June 29, 2k18. The increase was primarily Because of incremental revenue from the acquisitions of Lime Energy, NAM, and The Weidt Group. Net Revenue in the Energy section was $59.3M for the six months ended June 28, 2k19, a raise of 62.2% over the same period last year. Net Revenue in the Engineering and Consulting section was $28.3M for the six months ended June 28, 2k19, a raise of 0.2% over the same period last year.

Direct costs of contract revenue were $139.1M for the six months ended June 28, 2k19, a raise of 93.9%, from $71.7M for the six months ended June 29, 2k18. The increase was primarily as a result of the increased use of subcontractors and higher material content in projects associated with the acquisition of Lime Energy.

Looking at the (WLDN) Technical analysis information over the past 50 days shows that its average stood at added 2.83%. This figure is worse than the company’s 20-day average which currently stands at up 3.98% from 200 Days Simple Moving Average.

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