Revenue during the quarter grew 24.10 percent to $124.30 million from $100.16 million in the previous year period. Gross margin for the quarter contracted 56 basis points over the previous year period to 16.60 percent. Total expenses were 95.21 percent of quarterly revenues, up from 92.34 percent for the same period last year. That has resulted in a contraction of 287 basis points in operating margin to 4.79 percent.

Operating income for the quarter was $5.96 million, compared with $7.67 million in the previous year period.

However, the adjusted operating income for the quarter stood at $6 million compared to $8.60 million in the prior year period. At the same time, adjusted operating margin contracted 376 basis points in the quarter to 4.83 percent from 8.59 percent in the last year period.

"In the first quarter of fiscal 2017, NSR was $124 million, up 24% from $100 million in the same period of fiscal 2016. The increase was primarily driven by our Oil & Gas segment, which we acquired during the second quarter of fiscal 2016, as well as by large projects in our Power and Infrastructure segments," said Chris Vincze, Chairman and Chief Executive Officer. "Operating income was $6 million, $1.7 million lower than the $7.7 million reported in the prior-year period, while net income was $3.6 million, down $0.9 million, primarily due to a $1.9 million increase in amortization expense. EBITDA increased to $10.5 million, up $0.5 million, or 5% from the prior-year period. Our Days Sales Outstanding, or DSO, of 84 days was an improvement of six days from the 90-day result in the year-ago quarter."