| Segment Data |
13. 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.
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Industrial Staffing Services |
|
|
|
|
|
|
|
|
|
|
|
|
Contract services revenue |
|
$ |
2,407 |
|
|
$ |
3,183 |
|
|
$ |
7,363 |
|
|
$ |
10,027 |
|
Contract services gross margin |
|
|
15.2% |
|
|
|
17.7% |
|
|
|
15.5% |
|
|
|
16.5% |
|
Depreciation and amortization |
|
$ |
11 |
|
|
$ |
14 |
|
|
$ |
34 |
|
|
$ |
43 |
|
Income (loss) from operations |
|
|
(94 |
) |
|
|
43 |
|
|
|
(217 |
) |
|
|
80 |
|
Accounts receivable – net |
|
|
1,016 |
|
|
|
1,405 |
|
|
|
1,016 |
|
|
|
1,405 |
|
Goodwill |
|
|
- |
|
|
|
1,083 |
|
|
|
- |
|
|
|
1,083 |
|
Total assets |
|
|
1,528 |
|
|
|
3,087 |
|
|
|
1,528 |
|
|
|
3,087 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Professional Staffing Services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Permanent placement revenue |
|
$ |
3,287 |
|
|
$ |
5,191 |
|
|
$ |
8,797 |
|
|
$ |
15,821 |
|
Permanent placement services gross margin |
|
|
100% |
|
|
|
100% |
|
|
|
100% |
|
|
|
100% |
|
Contract services revenue |
|
$ |
23,762 |
|
|
$ |
29,797 |
|
|
$ |
71,977 |
|
|
$ |
92,330 |
|
Contract services gross margin |
|
|
25.0% |
|
|
|
26.5% |
|
|
|
25.2% |
|
|
|
25.8% |
|
Depreciation and amortization |
|
$ |
783 |
|
|
$ |
802 |
|
|
$ |
2,360 |
|
|
$ |
2,411 |
|
Income (loss) from operations |
|
|
(20,212 |
) |
|
|
2,891 |
|
|
|
(20,341 |
) |
|
|
7,409 |
|
Accounts receivable – net |
|
|
13,612 |
|
|
|
18,538 |
|
|
|
13,612 |
|
|
|
18,538 |
|
Intangible assets |
|
|
1,038 |
|
|
|
9,126 |
|
|
|
1,038 |
|
|
|
9,126 |
|
Goodwill |
|
|
46,008 |
|
|
|
60,210 |
|
|
|
46,008 |
|
|
|
60,210 |
|
Total assets |
|
|
95,356 |
|
|
|
120,613 |
|
|
|
95,356 |
|
|
|
120,613 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unallocated Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate administrative expenses |
|
$ |
1,199 |
|
|
$ |
1,484 |
|
|
$ |
3,872 |
|
|
$ |
3,698 |
|
Corporate facility expenses |
|
|
125 |
|
|
|
108 |
|
|
|
372 |
|
|
|
329 |
|
Share-based compensation expense |
|
|
149 |
|
|
|
176 |
|
|
|
459 |
|
|
|
676 |
|
Board related expenses |
|
|
117 |
|
|
|
82 |
|
|
|
344 |
|
|
|
246 |
|
Total unallocated expenses |
|
$ |
1,590 |
|
|
$ |
1,850 |
|
|
$ |
5,047 |
|
|
$ |
4,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
$ |
29,456 |
|
|
$ |
38,171 |
|
|
$ |
88,137 |
|
|
$ |
118,178 |
|
Depreciation and amortization |
|
|
794 |
|
|
|
816 |
|
|
|
2,394 |
|
|
|
2,454 |
|
Income (loss) from operations |
|
|
(21,896 |
) |
|
|
1,084 |
|
|
|
(25,605 |
) |
|
|
2,540 |
|
Accounts receivable – net |
|
|
14,628 |
|
|
|
19,943 |
|
|
|
14,628 |
|
|
|
19,943 |
|
Intangible assets |
|
|
1,038 |
|
|
|
9,126 |
|
|
|
1,038 |
|
|
|
9,126 |
|
Goodwill |
|
|
46,008 |
|
|
|
61,293 |
|
|
|
46,008 |
|
|
|
61,293 |
|
Total assets |
|
|
96,884 |
|
|
|
123,700 |
|
|
|
96,884 |
|
|
|
123,700 |
|
|