| Segment Data |
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, accounting, finance and office, engineering, and medical, and (c) temporary industrial staffing. These services can be divided into two reportable segments: Professional Staffing Services and Industrial Staffing Services. Some selling, general and administrative expenses are not fully allocated among Industrial Services and Professional Staffing Services.
Unallocated corporate expenses primarily include certain executive compensation expenses and salaries, certain administrative salaries, corporate legal expenses, stock compensation expenses, consulting expenses, audit fees, corporate rent and facility costs, board fees, acquisition, integration and restructuring expenses, and interest expense.
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|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Industrial Staffing Services |
|
|
|
|
|
|
|
|
|
|
|
|
Contract services revenue |
|
$ |
4,120 |
|
|
$ |
3,792 |
|
|
$ |
11,944 |
|
|
$ |
12,927 |
|
Contract services gross margin (1) |
|
|
16.6 |
% |
|
|
15.4 |
% |
|
|
15.5 |
% |
|
|
25.2 |
% |
Income (loss) from operations |
|
$ |
136 |
|
|
$ |
(389 |
) |
|
$ |
828 |
|
|
$ |
1,525 |
|
Depreciation and amortization |
|
$ |
17 |
|
|
$ |
17 |
|
|
$ |
48 |
|
|
$ |
62 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Staffing Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Permanent placement revenue |
|
$ |
8,026 |
|
|
$ |
5,529 |
|
|
$ |
20,073 |
|
|
$ |
12,579 |
|
Placement services gross margin |
|
|
100 |
% |
|
|
100 |
% |
|
|
100 |
% |
|
|
100 |
% |
Contract services revenue |
|
$ |
28,967 |
|
|
$ |
28,747 |
|
|
$ |
91,572 |
|
|
$ |
81,923 |
|
Contract services gross margin |
|
|
26.9 |
% |
|
|
26.8 |
% |
|
|
26.9 |
% |
|
|
26.2 |
% |
Income from operations |
|
$ |
4,031 |
|
|
$ |
3,589 |
|
|
$ |
8,882 |
|
|
$ |
7,613 |
|
Depreciation and amortization |
|
$ |
799 |
|
|
$ |
1,076 |
|
|
$ |
2,977 |
|
|
$ |
3,240 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unallocated Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate administrative expenses |
|
$ |
1,040 |
|
|
$ |
1,213 |
|
|
$ |
4,882 |
|
|
$ |
3,660 |
|
Corporate facility expenses |
|
|
99 |
|
|
|
101 |
|
|
|
283 |
|
|
|
274 |
|
Share-based compensation expense |
|
|
169 |
|
|
|
231 |
|
|
|
468 |
|
|
|
835 |
|
Board related expenses |
|
|
34 |
|
|
|
35 |
|
|
|
102 |
|
|
|
136 |
|
Total unallocated expenses |
|
$ |
1,342 |
|
|
$ |
1,580 |
|
|
$ |
5,735 |
|
|
$ |
4,905 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
$ |
41,113 |
|
|
$ |
38,068 |
|
|
$ |
123,589 |
|
|
$ |
107,429 |
|
Income from operations |
|
$ |
2,825 |
|
|
$ |
1,620 |
|
|
$ |
3,975 |
|
|
$ |
4,233 |
|
Depreciation and amortization |
|
$ |
816 |
|
|
$ |
1,093 |
|
|
$ |
3,025 |
|
|
$ |
3,302 |
|
(1) |
Credits related to estimated and/or actual annual premium refunds from the Ohio Bureau of Workers Compensations totaling $46 and $19 are included in the three-month periods ended June 30, 2022 and 2021, respectively; and $83 and $1,337 for the nine-month periods ended June 30, 2022 and 2021, respectively. The Industrial Services gross margin normalized for the effects of these items were approximately 15.5% and 14.9% for the three-month periods ended June 30, 2022 and 2021, respectively; and 14.8% and 14.9% for the nine-month periods ended June 30, 2022 and 2021, respectively. |
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