Quarterly report pursuant to Section 13 or 15(d)

Segment Data

v3.8.0.1
Segment Data
 3 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
14. Segment Data

The Company provides the following distinctive services: (a) direct hire placement services, (b) temporary professional services staffing in the fields of information technology, engineering, medical, and accounting, and (c) temporary light industrial staffing. These distinct services can be divided into two reportable segments, Industrial Staffing Services and Professional Staffing Services. Selling, general and administrative expenses are not completely separately allocated among light industrial services and professional staffing services.

 

Unallocated Corporate expenses primarily include, certain executive compensation expenses and salaries, certain administrative salaries, corporate legal expenses, stock amortization expenses, consulting expenses, audit fees, corporate rent and facility costs, board fees, acquisition, integration and restructuring expenses and interest expense.

 

    Three Months Ended  
    December 31,  
(In Thousands)   2017     2016  
             
Industrial Staffing Services            
Industrial services revenue   $ 5,872     $ 5,981  
Industrial services gross margin     15.6 %     16.4 %
Operating income   $ 253     $ 340  
Depreciation & amortization     66       73  
Accounts receivable – net     3,521       3,497  
Intangible assets     637       854  
Goodwill     519       1,084  
Total assets   $ 4,177     $ 7,629  
                 
Professional Staffing Services                
Permanent placement revenue   $ 5,771     $ 1,150  
Placement services gross margin     100 %     100 %
Professional services revenue   $ 33,589     $ 13,875  
Professional services gross margin     27.0 %     23.9 %
Operating income   $ 2,477     $ 1,048  
Depreciation and amortization     1,427       375  
Accounts receivable – net     19,148       9,080  
Intangible assets     33,016       9,871  
Goodwill     76,074       17,506  
Total assets   $ 134,844     $ 38,631  
                 
Unallocated Expenses                
Corporate administrative expenses   $ 817     $ 601  
Corporate facility expenses     105       74  
Stock option amortization expense     293       194  
Board related expenses     -       19  
Acquisition, integration and restructuring expenses     40       23  
Total unallocated expenses   $ 1,255     $ 911  
                 
Consolidated                
Total revenue   $ 45,232     $ 21,006  
Operating income     1,475       477  
Depreciation and amortization     1,493       448  
Total accounts receivables – net     22,669       12,577  
Intangible assets     33,653       10,725  
Goodwill     76,593       18,590  
Total assets   $ 139,021     $ 46,260