Willdan Group
Willdan Group Reports Increased Revenues and Earnings for Third Quarter 2017

November 3, 2017

Willdan Group, Inc. ("Willdan") (NASDAQ: WLDN), a provider of professional technical solutions, reported financial results for its third quarter ended September 29, 2017 and updated its previously provided targets for fiscal year 2017.

Third Quarter 2017 Highlights

  • Total contract revenue of $69.0 million, an increase of 18% over prior year
  • Organic revenue growth (as defined below) was 16% in the third quarter
  • Income from operations of $4.2 million, an increase of 37% over prior year
  • Diluted earnings per share of $0.31

For the third quarter of 2017, Willdan reported total contract revenue of $69.0 million and net income of $2.9 million, or $0.31 per diluted share. This compares with total contract revenue of $58.7 million and net income of $2.5 million, or $0.28 per diluted share, for the third quarter of 2016. An increase in Willdan's effective tax rate from 18% to 31% as a result of the absence of a renewal of the Section 179D tax deductions resulted in earnings per share increasing at a lower rate than operating income.

"We see positive trends across Willdan as a result of our disciplined focus on expanding into new geographies, new customers and new programs with existing customers," said Tom Brisbin, Willdan's Chairman and Chief Executive Officer. "It's a good year. We have won all of our recompetes this year. The new acquisition of Integral Analytics is doing well as demonstrated by the Hawaiian Electric press release on October 19, 2017. The number of opportunities is accelerating due to our new capabilities and geographies."

Click here to read the full press release.

For more information:

Willdan Group, Inc.

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