Q1 - 2022
Everyone, Attached are the February 2022 financials. Our revenue was $5.7M and profit was 16% firmwide, bringing our YTD up to 15%! Utilization increased for February to 63%. Our multiplier was strong at 3.44 (target of 3.60). Overhead was healthy at 189% (target of 185%). We continue to increase our Negative Labor Variance in February with an additional $305k totaling $745k on the year – we need to go in the other direction. Backlog has increased to over 7 months with a strong forecast through 2022. Office Performance was above target for Charlotte at 19% followed by Durham and Orlando at 17%! Newport Beach was close to our target at 13% and DC was profitable at 3%. Practice Performance was strongest for Retail at 21% followed by Workplace at 18%, Engineering at 17%, Land Development at 14%, Community at 12% and finally Healthcare at 12%. All offices and practices were profitable! We are excited about 2022 with a strong forecast projected and enthusiasm for design and serving clients! Thank you for all that you bring to Little! Charles Todd, COO
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As we drive forward on our strategic path to Regenerative Design, our financial performance and profitability are more important than ever! Business profit is not a conflict, rather, it is critical to ensure investment in our strategic plan. Profit will fund the development of Regenerative Design through diversified services, thought leadership, technology, staff development, research, and business development that ultimately improves client performance. Regenerative Design will be a source of profit, creating a cycle.