Income Statement

v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
NET REVENUES:        
Contract staffing services $ 23,493 $ 33,217 $ 86,835 $ 99,057
Direct hire placement services 3,101 4,884 11,996 13,764
NET REVENUES 26,594 38,101 98,831 112,821
Cost of contract services 16,925 24,521 64,654 74,093
GROSS PROFIT 9,669 13,580 34,177 38,728
Selling, general and administrative expenses (including noncash stock-based compensation expense of $337 and $531, and $1,290 and $1,661 respectively) 10,208 11,559 34,299 34,537
Depreciation expense 33 89 181 269
Amortization of intangible assets 1,125 1,396 3,921 4,189
Goodwill impairment charge 0 4,300 0 4,300
LOSS FROM OPERATIONS (1,697) (3,764) (4,224) (4,567)
Gain on extinguishment of debt 12,316 0 12,316 0
Interest expense (3,334) (3,176) (9,618) (9,209)
INCOME (LOSS) BEFORE INCOME TAX PROVISION 7,285 (6,940) (1,526) (13,776)
Provision for income tax expense (benefit) 90 (106) 271 400
NET INCOME (LOSS) 7,195 (6,834) (1,797) (14,176)
Gain on redeemed preferred stock 24,475 0 24,475 0
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 31,670 $ (6,834) $ 22,678 $ (14,176)
BASIC EARNINGS (LOSS) PER SHARE $ 2.01 $ (0.57) $ 1.58 $ (1.22)
DILUTED EARNINGS (LOSS) PER SHARE $ 1.88 $ (0.57) $ 1.48 $ (1.22)
WEIGHTED AVERAGE SHARES OUTSTANDING:        
BASIC 15,792 12,041 14,368 11,609
DILUTED 16,805 12,041 15,373 11,609

Source