Income Statement

v3.21.4
CONSOLIDATED STATEMENT OF OPERATIONS - USD ($)
shares in Thousands
12 Months Ended
Sep. 30, 2021
Sep. 30, 2020
NET REVENUES:    
Contract staffing services $ 129,802,000 $ 114,526,000
Direct hire placement services 19,078,000 15,309,000
NET REVENUES 148,880,000 129,835,000
Cost of contract services 96,339,000 85,131,000
GROSS PROFIT 52,541,000 44,704,000
Selling, general and administrative expenses (including noncash stock-based compensation expense of $970 and $1,559 respectively) 41,651,000 44,401,000
Depreciation expense 311,000 248,000
Amortization of intangible assets 4,089,000 5,038,000
Goodwill impairment charge 0 8,850,000
INCOME (LOSS) FROM OPERATIONS 6,490,000 (13,833,000)
(Loss) gain on extinguishment of debt (548,000) 12,316,000
Interest expense (5,878,000) (12,233,000)
INCOME (LOSS) BEFORE INCOME TAX PROVISION 64,000 (13,750,000)
Provision for income tax (58,000) (597,000)
NET INCOME (LOSS) 6,000 (14,347,000)
Gain on redeemed preferred stock 0 24,475,000
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 6,000 $ 10,128,000
BASIC EARNINGS PER SHARE $ 0.00 $ 0.67
DILUTED EARNINGS (LOSS) PER SHARE $ 0.00 $ (1.14)
WEIGHTED AVERAGE SHARES OUTSTANDING:    
BASIC 60,594 15,214
DILUTED 61,948 21,570

Source