Willdan Group, Inc.
Willdan Group, Inc. (Form: 8-K, Received: 05/04/2017 16:09:00)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

 


 

FORM 8-K

 


 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  May 4, 2017

 


 

WILLDAN GROUP, INC.

(Exact name of registrant as specified in its charter)

 

 

 

 

 

 

Delaware

    

001-33076

    

14-1951112

(State of other jurisdiction

of incorporation)

 

(Commission File Number)

 

(IRS Employer

Identification No.)

 

2401 East Katella Avenue, Suite 300, Anaheim, California 92806

(Address of Principal Executive Offices)

 

Registrant’s telephone number, including area code: (800) 424-9144

 

Not Applicable

(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

 

 

Soliciting material pursuant to Rule 14A-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR.14d-2(b))

 

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 


 

Item 2.02             Results of Operations and Financial Condition

 

Willdan Group, Inc. (“Willdan”) issued a press release on May 4, 2017.  The press release announced Willdan’s financial results for the first quarter ended March 31, 2017.  A copy of the press release is attached as Exhibit 99.1 hereto and is hereby incorporated by reference in its entirety.  The information in this Item 2.02 and the attached Exhibit 99.1 to this Current Report on Form 8-K is being furnished (not filed) pursuant to Item 2.02 of Form 8-K.

 

Item 9.01               Financial Statements and Exhibits

 

(d)            Exhibits.

 

99.1 Press Release of Willdan Group, Inc. dated May 4, 2017.

 

2


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

WILLDAN GROUP, INC.

 

 

 

 

 

 

Date: May 4, 2017

By:

/s/ Stacy B. McLaughlin

 

 

Stacy B. McLaughlin

 

 

Chief Financial Officer

 

3


 

EXHIBIT INDEX

 

 

 

 

 

 

Exhibit No.

 

Document

 

 

 

 

99.1

 

 

Press Release of Willdan Group, Inc. dated May 4, 2017.

 

 

 

 

 

 

 

4


Exhibit 99.1

 

WD_TAGEND_300RGB

 

Willdan Group Reports First Quarter 2017 Financial Results

 

Investment Community Conference Call Today at 5:30 p.m. Eastern Time

 

 

ANAHEIM, Calif. – May 4, 2017 – Willdan Group, Inc. (“Willdan”) (NASDAQ: WLDN) , a provider of professional technical and consulting services, today reported financial results for its first quarter ended March 31, 2017, and increased guidance for fiscal year 2017.

 

First Quarter 2017 Highlights

 

·

Total contract revenue of $68.4 million, an increase of 102% over prior year

·

Net income of $2.6 million, an increase of 145% over prior year

·

Diluted earnings per share of $0.30, an increase of 131% over prior year

 

For the first quarter of 2017, Willdan reported total contract revenue of $68.4 million and net income of $2.6 million, or $0.30 per diluted share.  This compares with total contract revenue of $33.9 million and net income of $1.1 million, or $0.13 per diluted share, for the first quarter of 2016.  The increase in earnings per share in the first quarter of 2017 was primarily driven by higher total contract revenue, resulting from both organic growth and incremental revenue contributed by substantially all of the assets of Genesys Engineering P.C. (“Genesys”) acquired in March 2016, as well as the recognition of a tax benefit.

 

“This is a good start to 2017,” said Tom Brisbin, Willdan’s Chairman and Chief Executive Officer.  “Distributed energy resources, which include energy efficiency, renewables, storage, and distributed generation, are disruptive to traditional energy generation, transmission and distribution.  This change is creating the market opportunity that drove our 60% organic revenue growth in the first quarter.  Willdan is well positioned to enhance its financial performance this year,  while also investing for this rapidly evolving market.  We are diligently pursuing new opportunities that we believe will position us for continued profitable growth.”

 

First Quarter 2017 Financial Highlights

 

Total contract revenue for the first quarter of 2017 was $68.4 million, an increase of 101.5% from $33.9 million for the first quarter of 2016.  The increase was primarily due to higher contract revenue from the Energy Efficiency Services segment, which increased $31.1 million, or 164.0%, from the first quarter of 2016.  Total contract revenue for the first quarter of 2017 included $22.0 million of revenue generated by substantially all of the assets of Genesys, which were acquired in March 2016.  Contract revenue for the Energy Efficiency Services, Engineering Services, Public Finance Services, and Homeland Security Services segments was $50.1 million, $14.4 million, $3.2 million and $0.6 million, respectively, in the first quarter of 2017.

 

Direct costs of contract revenue were $50.7 million for the first quarter of 2017, an increase of $30.4 million, or 150.1%, from $20.3 million for the first quarter of 2016.  Included in the increase of direct costs of contract revenue was incremental direct costs of contract revenue of $16.1 million attributable to substantially all of the assets of Genesys.  Excluding the increase of direct costs of contract revenue attributable to substantially all of the assets of Genesys, direct costs of contract revenue increased by $14.3 million, primarily due to higher use of subcontractor services and increases in salaries and wages in the Energy Efficiency Services segment.

 

Revenue, net of subcontractor services and other direct costs (see “Use of Non-GAAP Financial Measures” below), for the first quarter of 2017 was $28.5 million, an increase of 28.3% from $22.2 million for the first quarter of 2016.

 


 

Willdan Group

Page 2 of 10

Total general and administrative expenses for the first quarter of 2017 were $15.7 million, an increase of 32.9% from $11.8 million for the prior year period, due primarily to an increase in general and administrative expenses to support the growth of the Energy Efficiency Services and Engineering Services segments.

 

The Company recorded an income tax benefit of $0.7 million for the first quarter of 2017, as compared to income tax expense of $0.7 million for the first quarter of 2016.  The income tax benefit recorded in the first quarter of 2017 was primarily due to tax deductions related to stock option exercises, pursuant to the adoption of ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Accounting,   which Willdan elected to early adopt on a prospective basis in 2016.

 

Net income for the first quarter of 2017 was $2.6 million, or $0.30 per diluted share, as compared to net income of $1.1 million, or $0.13 per diluted share, for the first quarter of 2016. 

 

EBITDA (see “Use of Non-GAAP Financial Measures” below) was $3.1 million for the first quarter of 2017, as compared to $2.4 million for the first quarter of 2016.

 

Liquidity and Capital Resources

 

Willdan reported $19.4 million in cash and cash equivalents at March 31, 2017, as compared to $22.7 million at December 30, 2016.  The decline in cash and cash equivalents was primarily due to cash used in operations of $1.4 million and payments of $2.8 million for contingent consideration and on notes payable related to our acquisitions, offset by $1.3 million proceeds from stock option exercises.  

 

Outlook

 

Willdan provided the following updated financial targets for fiscal year 2017:

 

·

Total contract revenue of $240 - $250 million

·

Diluted earnings per share of $1.08 - $1.21

·

Effective tax rate of approximately 42% for the remaining three quarters

·

Diluted share count of 9.0 million shares

·

Depreciation of $1.6 million

·

Amortization of $2.1 million

 

Over the long-term, Willdan continues to target both organic and acquisitive revenue growth of greater than 10%, resulting in total revenue growth of greater than 20% per year.

 

Conference Call Details

 

Chief Executive Officer Thomas Brisbin and Chief Financial Officer Stacy McLaughlin will host a conference call today, May 4, 2017, at 5:30 p.m. Eastern/2:30 p.m. Pacific to discuss Willdan’s financial results and provide a business update.

 

Interested parties may participate in the conference call by dialing 800-344-6698 (785-830-7979 for international callers) and providing conference ID 6166602.  The conference call will be webcast simultaneously on Willdan’s website at www.willdan.com under and the replay will be archived for at least 12 months.

 

The telephonic replay of the conference call may be accessed following the call by dialing 888-203-1112 and entering the passcode 6166602.  The replay will be available through May 18, 2017.

 


 

Willdan Group

Page 3 of 10

About Willdan Group, Inc.

 

Willdan provides professional technical and consulting services to utilities, public agencies and private industry throughout the United States. Willdan’s service offerings span a broad set of complementary disciplines that include energy efficiency and sustainability, engineering and planning, financial and economic consulting, and national preparedness. Willdan provides integrated technical solutions to extend the reach and resources of its clients, and provides all services through its subsidiaries specialized in each segment. For additional information, visit Willdan's website at www.willdan.com .

 

Use of Non-GAAP Financial Measures

 

“Revenue, net of subcontractor services and other direct costs,” a non-GAAP financial measure, is a supplemental measure that Willdan believes enhances investors' ability to analyze our business trend and performance because it substantially measures the work performed by our employees. In the course of providing services, Willdan routinely subcontracts various services. Generally, these subcontractor services and other direct costs are passed through to our clients and, in accordance with Generally Accepted Accounting Principles (“GAAP”) and industry practice, are included in our revenue when it is our contractual responsibility to procure or manage these activities. Because subcontractor services and other direct costs can vary significantly from project to project and period to period, changes in revenue may not necessarily be indicative of our business trends. Accordingly, Willdan segregates costs from revenue to promote a better understanding of our business by evaluating revenue exclusive of costs associated with external service providers. A reconciliation of contract revenue as reported in accordance with GAAP to revenue, net of subcontractor services and other direct costs is provided at the end of this news release.

 

EBITDA is a supplemental measure used by Willdan’s management to measure its operating performance. Willdan defines EBITDA as net income (loss) plus interest expense (income), income tax expense (benefit), interest accretion and depreciation and amortization. EBITDA is not a measure of net income (loss) determined in accordance with U.S. generally accepted accounting principles, or GAAP. Willdan believes EBITDA is useful because it allows Willdan’s management to evaluate its operating performance and compare the results of its operations from period to period and against its peers without regard to its financing methods, capital structure and non-operating expenses. Willdan uses EBITDA to evaluate its performance for, among other things, budgeting, forecasting and incentive compensation purposes.

 

EBITDA has limitations as an analytical tool and should not be considered as an alternative to, or more meaningful than, net income (loss) as determined in accordance with GAAP. Certain items excluded from EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s costs of capital, as well as the historical costs of depreciable assets. Willdan’s definition of EBITDA may also differ from those of many companies reporting similarly named measures. Willdan believes EBITDA is useful to investors, research analysts, investment bankers and lenders because it removes the impact of certain non-operational items from its operational results, which may facilitate comparison of its results from period to period.  A reconciliation of net income as reported in accordance with GAAP to EBITDA is provided at the end of this news release.

 

Willdan's definition of Revenue, net of subcontractor services and other direct costs, and EBITDA may differ from other companies reporting similarly named measures. These measures should be considered in addition to, and not as a substitute for, or superior to, other measures of financial performance prepared in accordance with GAAP, such as contract revenue and net income.

 


 

Willdan Group

Page 4 of 10

Forward Looking Statements

 

Statements in this press release that are not purely historical, including statements regarding Willdan's intentions, hopes, beliefs, expectations, representations, projections, estimates, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties including, but not limited to, the risk that Willdan will not be able to expand its services or meet the needs of customers in markets in which it operates. It is important to note that Willdan's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, Willdan’s failure to execute on existing projects, inability to integrate recent acquisitions, including its acquisition of substantially all of the assets of Genesys, a slowdown in the local and regional economies of the states where Willdan conducts business, Willdan’s inability to successfully implement its tax strategy and the loss of or inability to hire additional qualified professionals. Willdan's business could be affected by a number of other factors, including the risk factors listed from time to time in Willdan's SEC reports including, but not limited to, the Annual Report on Form 10-K filed for the year ended December 30, 2016. Willdan cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Willdan disclaims any obligation to, and does not undertake to, update or revise any forward-looking statements in this press release.

 


 

Willdan Group

Page 5 of 10

WILLDAN GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

March 31,

 

December 30,

 

 

    

2017

    

2016

 

Assets

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

19,440,000

 

$

22,668,000

 

Accounts receivable, net of allowance for doubtful accounts of $793,000 and $785,000 at March 31, 2017 and December 30, 2016, respectively

 

 

31,240,000

 

 

30,285,000

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

 

29,179,000

 

 

18,988,000

 

Other receivables

 

 

228,000

 

 

699,000

 

Prepaid expenses and other current assets

 

 

3,160,000

 

 

2,601,000

 

Total current assets

 

 

83,247,000

 

 

75,241,000

 

Equipment and leasehold improvements, net

 

 

4,755,000

 

 

4,511,000

 

Goodwill

 

 

21,947,000

 

 

21,947,000

 

Other intangible assets, net

 

 

5,393,000

 

 

5,941,000

 

Other assets

 

 

682,000

 

 

707,000

 

Total assets

 

$

116,024,000

 

$

108,347,000

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Accounts payable

 

$

19,870,000

 

$

17,395,000

 

Accrued liabilities

 

 

22,426,000

 

 

19,049,000

 

Contingent consideration payable

 

 

1,375,000

 

 

1,925,000

 

Billings in excess of costs and estimated earnings on uncompleted contracts

 

 

8,121,000

 

 

8,377,000

 

Notes payable

 

 

3,275,000

 

 

3,972,000

 

Capital lease obligations

 

 

293,000

 

 

334,000

 

Total current liabilities

 

 

55,360,000

 

 

51,052,000

 

Contingent consideration payable

 

 

1,745,000

 

 

2,537,000

 

Notes payable

 

 

1,500,000

 

 

2,074,000

 

Capital lease obligations, less current portion

 

 

162,000

 

 

210,000

 

Deferred lease obligations

 

 

708,000

 

 

714,000

 

Deferred income taxes, net

 

 

1,870,000

 

 

1,842,000

 

Total liabilities

 

 

61,345,000

 

 

58,429,000

 

 

 

 

 

 

 

 

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity:

 

 

 

 

 

 

 

Preferred stock, $0.01 par value, 10,000,000 shares authorized, no shares issued and outstanding

 

 

 —

 

 

 —

 

Common stock, $0.01 par value, 40,000,000 shares authorized; 8,559,000 and 8,348,000 shares issued and outstanding at March 31, 2017 and December 30, 2016, respectively

 

 

86,000

 

 

83,000

 

Additional paid-in capital

 

 

44,493,000

 

 

42,376,000

 

Retained earnings

 

 

10,100,000

 

 

7,459,000

 

Total stockholders’ equity

 

 

54,679,000

 

 

49,918,000

 

Total liabilities and stockholders’ equity

 

$

116,024,000

 

$

108,347,000

 


 

Willdan Group

Page 6 of 10

WILLDAN GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

    

April 1,

 

 

    

2017

 

2016

 

 

 

 

 

 

 

 

 

Contract revenue

    

$

68,351,000

 

$

33,915,000

 

 

 

 

 

 

 

 

 

Direct costs of contract revenue (exclusive of depreciation and amortization shown separately below):

 

 

 

 

 

 

 

Salaries and wages

 

 

10,801,000

 

 

8,534,000

 

Subcontractor services and other direct costs

 

 

39,895,000

 

 

11,733,000

 

Total direct costs of contract revenue

 

 

50,696,000

 

 

20,267,000

 

 

 

 

 

 

 

 

 

General and administrative expenses:

 

 

 

 

 

 

 

Salaries and wages, payroll taxes and employee benefits

 

 

9,315,000

 

 

6,761,000

 

Facilities and facility related

 

 

1,124,000

 

 

1,110,000

 

Stock-based compensation

 

 

476,000

 

 

207,000

 

Depreciation and amortization

 

 

909,000

 

 

610,000

 

Other

 

 

3,867,000

 

 

3,122,000

 

Total general and administrative expenses

 

 

15,691,000

 

 

11,810,000

 

Income from operations

 

 

1,964,000

 

 

1,838,000

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

Interest expense

 

 

(33,000)

 

 

(50,000)

 

Other, net

 

 

37,000

 

 

1,000

 

Total other income (expense), net

 

 

4,000

 

 

(49,000)

 

Income before income taxes

 

 

1,968,000

 

 

1,789,000

 

 

 

 

 

 

 

 

 

Income tax (benefit) expense

 

 

(673,000)

 

 

711,000

 

Net income

 

$

2,641,000

 

$

1,078,000

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

Basic

 

$

0.32

 

$

0.13

 

Diluted

 

$

0.30

 

$

0.13

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

Basic

 

 

8,281,000

 

 

7,996,000

 

Diluted

 

 

8,854,000

 

 

8,244,000

 

 


 

Willdan Group

Page 7 of 10

WILLDAN GROUP, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

March 31,

    

April 1,

 

 

 

    

2017

 

2016

    

 

 

 

 

 

 

 

 

 

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net income

 

$

2,641,000

 

$

1,078,000

 

 

Adjustments to reconcile net income to net cash used in operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

919,000

 

 

610,000

 

 

Deferred income taxes, net

 

 

28,000

 

 

269,000

 

 

Provision for doubtful accounts

 

 

8,000

 

 

31,000

 

 

Stock-based compensation

 

 

476,000

 

 

207,000

 

 

Accretion and fair value adjustments of contingent consideration

 

 

167,000

 

 

(28,000)

 

 

Changes in operating assets and liabilities, net of effects from business acquisitions:

 

 

 

 

 

 

 

 

Accounts receivable

 

 

(963,000)

 

 

(2,259,000)

 

 

Costs and estimated earnings in excess of billings on uncompleted contracts

 

 

(10,191,000)

 

 

(2,231,000)

 

 

Other receivables

 

 

471,000

 

 

(20,000)

 

 

Prepaid expenses and other current assets

 

 

(559,000)

 

 

(236,000)

 

 

Other assets

 

 

25,000

 

 

10,000

 

 

Accounts payable

 

 

2,475,000

 

 

(636,000)

 

 

Accrued liabilities

 

 

3,377,000

 

 

(864,000)

 

 

Billings in excess of costs and estimated earnings on uncompleted contracts

 

 

(256,000)

 

 

2,410,000

 

 

Deferred lease obligations

 

 

(6,000)

 

 

32,000

 

 

Net cash used in operating activities

 

 

(1,388,000)

 

 

(1,627,000)

 

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchase of equipment and leasehold improvements

 

 

(583,000)

 

 

(257,000)

 

 

Cash paid for acquisitions, net of cash acquired

 

 

 —

 

 

(8,857,000)

 

 

Net cash used in investing activities

 

 

(583,000)

 

 

(9,114,000)

 

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Payments on contingent consideration

 

 

(1,508,000)

 

 

 —

 

 

Payments on notes payable

 

 

(1,272,000)

 

 

(939,000)

 

 

Principal payments on capital lease obligations

 

 

(121,000)

 

 

(128,000)

 

 

Proceeds from stock option exercise

 

 

1,300,000

 

 

47,000

 

 

Proceeds from sales of common stock under employee stock purchase plan

 

 

344,000

 

 

113,000

 

 

Net cash used in financing activities

 

 

(1,257,000)

 

 

(907,000)

 

 

Net decrease in cash and cash equivalents

 

 

(3,228,000)

 

 

(11,648,000)

 

 

Cash and cash equivalents at beginning of period

 

 

22,668,000

 

 

16,487,000

 

 

Cash and cash equivalents at end of period

 

$

19,440,000

 

$

4,839,000

 

 

Supplemental disclosures of cash flow information:

 

 

 

 

 

 

 

 

Cash paid during the period for:

 

 

 

 

 

 

 

 

Interest

 

$

33,000

 

$

49,000

 

 

Income taxes

 

 

249,000

 

 

686,000

 

 

Supplemental disclosures of noncash investing and financing activities:

 

 

 

 

 

 

 

 

Issuance of notes payable related to business acquisitions

 

$

 —

 

 

4,569,000

 

 

Issuance of common stock related to business acquisitions

 

 

 —

 

 

2,230,000

 

 

Equipment acquired under capital leases

 

 

32,000

 

 

884,000

 

 

 


 

Willdan Group

Page 8 of 10

Willdan Group, Inc. and Subsidiaries

Reconciliation of GAAP Revenue and “Revenue, Net of Subcontractor Services and Other Direct Costs”

(Non-GAAP Measure)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

 

April 1,

 

 

    

2017

    

2016

 

Contract revenue

 

$

68,351,000

 

$

33,915,000

 

Subcontractor services and other direct costs

 

 

39,895,000

 

 

11,733,000

 

Revenue, net of subcontractor services and other direct costs

 

$

28,456,000

 

$

22,182,000

 

 


 

Willdan Group

Page 9 of 10

Willdan Group, Inc. and Subsidiaries

Reconciliation of GAAP Net Income to EBITDA

(Non-GAAP Measure)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

March 31,

    

April 1,

 

 

    

2017

 

2016

 

Net income

 

$

2,641,000

 

$

1,078,000

 

Interest expense

 

 

33,000

 

 

50,000

 

Income tax (benefit) expense

 

 

(673,000)

 

 

711,000

 

Interest accretion(1)

 

 

167,000

 

 

(28,000)

 

Depreciation and amortization

 

 

909,000

 

 

610,000

 

EBITDA

 

$

3,077,000

 

$

2,421,000

 


(1)

Interest accretion represents the imputed interest on the earn-out payments to be paid by us in connection with our acquisition of Abacus and the acquisition of substantially all of the assets of 360 Energy in January 2015. 


 

Willdan Group

Page 10 of 10

Contact:

 

Willdan Group, Inc.

Stacy McLaughlin

Chief Financial Officer

Tel: 714-940-6300

smclaughlin@willdan.com  

 

Or

 

Investor/Media Contact

Financial Profiles, Inc.

Tony Rossi

Tel: 310-622-8221

trossi@finprofiles.com