Annual report pursuant to Section 13 and 15(d)

Segment Data

v3.23.4
Segment Data
12 Months Ended
Sep. 30, 2023
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 these segments.

 

Unallocated corporate expenses primarily include certain executive and administrative salaries and related expenses, corporate legal expenses, share-based compensation expenses, consulting expenses, audit fees, corporate rent and facility costs, board related fees, acquisition, integration and restructuring expenses, and interest expense.

 

 

 

Year Ended September 30,

 

 

 

2023

 

 

2022

 

Industrial Staffing Services

 

 

 

 

 

 

Contract services revenue

 

$ 13,005

 

 

$ 15,945

 

Contract services gross margin

 

 

16.5%

 

 

15.4%

Income from operations

 

$ 83

 

 

$ 873

 

Depreciation and amortization

 

 

56

 

 

 

64

 

Accounts receivable – net

 

 

1,347

 

 

 

1,991

 

Intangible assets

 

 

-

 

 

 

-

 

Goodwill

 

 

1,083

 

 

 

1,083

 

Total assets

 

 

2,986

 

 

 

3,817

 

 

 

 

 

 

 

 

 

 

Professional Staffing Services

 

 

 

 

 

 

 

 

Permanent placement revenue

 

$ 19,392

 

 

$ 26,605

 

Permanent placement services gross margin

 

 

100%

 

 

100%

Contract services revenue

 

$ 120,046

 

 

$ 122,562

 

Contract services gross margin

 

 

26.1%

 

 

26.6%

Income from operations

 

$ 9,041

 

 

$ 11,108

 

Depreciation and amortization

 

 

3,206

 

 

 

3,776

 

Accounts receivable – net

 

 

16,986

 

 

 

20,779

 

Intangible assets

 

 

8,406

 

 

 

11,285

 

Goodwill

 

 

60,210

 

 

 

60,210

 

Total assets

 

 

120,507

 

 

 

115,737

 

 

 

 

 

 

 

 

 

 

Unallocated Expenses

 

 

 

 

 

 

 

 

Corporate administrative expenses

 

$ 5,455

 

 

$ 7,049

 

Corporate facility expenses

 

 

443

 

 

 

379

 

Share-based compensation expense

 

 

864

 

 

 

635

 

Board related expenses

 

 

329

 

 

 

143

 

Total unallocated expenses

 

$ 7,091

 

 

$ 8,206

 

 

 

 

 

 

 

 

 

 

Consolidated

 

 

 

 

 

 

 

 

Total revenue

 

$ 152,443

 

 

$ 165,112

 

Income from operations

 

 

2,033

 

 

 

3,775

 

Depreciation and amortization

 

 

3,262

 

 

 

3,840

 

Total accounts receivables – net

 

 

18,333

 

 

 

22,770

 

Intangible assets

 

 

8,406

 

 

 

11,285

 

Goodwill

 

 

61,293

 

 

 

61,293

 

Total assets

 

 

123,493

 

 

 

119,554