Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF OPERATIONS

v3.20.4
CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
NET REVENUES:    
Contract staffing services $ 114,526 $ 133,143
Direct hire placement services 15,309 18,531
NET REVENUES 129,835 151,674
Cost of contract services 85,131 99,653
GROSS PROFIT 44,704 52,021
Selling, general and administrative expenses (including noncash stock-based compensation expense of $1,559 and $2,186 respectively) 44,401 46,739
Depreciation expense 248 349
Amortization of intangible assets 5,038 5,586
Goodwill impairment charge 8,850 4,300
LOSS FROM OPERATIONS (13,833) (4,953)
Gain on extinguishment of debt 12,316 0
Interest expense (12,233) (12,440)
LOSS BEFORE INCOME TAX PROVISION (13,750) (17,393)
Provision for income tax (597) (370)
NET LOSS (14,347) (17,763)
Gain on redeemed preferred stock 24,475 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 10,128 $ (17,763)
BASIC EARNINGS (LOSS) PER SHARE $ 0.67 $ (1.50)
DILUTED EARNINGS (LOSS) PER SHARE $ (1.14) $ (1.50)
WEIGHTED AVERAGE SHARES OUTSTANDING:    
BASIC 15,214 11,840
DILUTED 21,570 11,840