Quarterly report pursuant to Section 13 or 15(d)

Segment Data

v3.7.0.1
Segment Data
 9 Months Ended
Jun. 30, 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, corporate legal expenses, consulting expenses, corporate payroll, audit fees, corporate rent and facility costs, board fees and interest expense.

 

    Three Months Ended     Nine Months Ended  
    June 30,     June 30,  
(In Thousands)   2017     2016     2017     2016  
                         
Industrial Staffing Services                        
Industrial services revenue   $ 6,718     $ 5,356     $ 18,824     $ 16,230  
Industrial services gross margin     14.08 %     13.07 %     14.69 %     11.86 %
Operating income   $ 365     $ 172     $ 954     $ 212  
Depreciation & amortization     41       71       182       209  
Accounts receivable – net     3,967       2,556       3,967       2,556  
Intangible assets     745       961       745       961  
Goodwill     1,084       1,084       1,084       1,084  
Total assets   $ 8,484     $ 6,870     $ 8,484     $ 6,870  
                                 
Professional Staffing Services                                
Permanent placement revenue   $ 5,969     $ 1,671     $ 8,578     $ 5,356  
Placement services gross margin     100 %     100 %     100 %     100 %
Professional services revenue   $ 33,382     $ 14,955     $ 61,222     $ 39,687  
Professional services gross margin     29.29 %     26.10 %     26.87 %     25.99 %
Operating income   $ 535     $ 1,189     $ 2,636     $ 3,155  
Depreciation and amortization     1,705       447       2,452       1,223  
Accounts receivable – net     20,073       8,802       20,073       8,802  
Intangible assets     36,541       10,503       36,541       10,503  
Goodwill     71,967       16,905       71,967       16,905  
Total assets   $ 132,478     $ 39,413     $ 132,478     $ 39,413  
                                 
Unallocated Expenses                                
Corporate administrative expenses   $ 900     $ 560     $ 2,135     $ 1,333  
Corporate facility expenses     80       48       223       130  
Stock option amortization expense     255       202       640       594  
Board related expenses     -       -       38       -  
Acquisition, integration and restructuring expenses     2,111       29       2,211       597  
Total unallocated expenses   $ 3,346     $ 839     $ 5,247     $ 2,654  
                                 
Consolidated                                
Total revenue   $ 46,069     $ 21,982     $ 88,624     $ 61,273  
Operating income (loss)     (2,446 )     522       (1,642 )     713  
Depreciation and amortization     1,746       518       2,634       1,432  
Total accounts receivables – net     24,040       11,358       24,040       11,358  
Intangible assets     37,286       11,464       37,286       11,464  
Goodwill     73,051       17,989       73,051       17,989  
Total assets   $ 140,962     $ 46,283     $ 140,962     $ 46,283