Quarterly report pursuant to Section 13 or 15(d)

Segment Data

v3.8.0.1
Segment Data
 6 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
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, 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. Some selling, general and administrative expenses are not fully allocated among light industrial services and professional staffing services.

 

Unallocated Corporate expenses primarily include, certain executive compensation expenses and salaries, certain administrative salaries, corporate legal expenses, stock amortization expenses, consulting expenses, audit fees, corporate rent and facility costs, board fees, acquisition, integration and restructuring expenses and interest expense.

 

    Three Months Ended     Six Months Ended  
    March 31,     March 31,  
(In Thousands)   2018     2017     2018     2017  
                         
Industrial Staffing Services                        
Industrial services revenue   $ 5,127     $ 6,125     $ 10,999     $ 12,106  
Industrial services gross margin     13.6 %     13.7 %     14.7 %     15.0 %
Operating income   $ 62     $ 249     $ 316     $ 589  
Depreciation & amortization     66       68       132       141  
Accounts receivable – net     3,425       3,644       3,425       3,644  
Intangible assets     583       800       583       800  
Goodwill     1,084       1,084       1,084       1,084  
Total assets   $ 4,080     $ 8,269     $ 4,080     $ 8,269  
                                 
Professional Staffing Services                                
Permanent placement revenue   $ 5,337     $ 1,459     $ 11,108     $ 2,609  
Placement services gross margin     100 %     100 %     100 %     100 %
Professional services revenue   $ 29,393     $ 13,965     $ 62,982     $ 27,840  
Professional services gross margin     25.8 %     24.1 %     26.5 %     24.0 %
Operating income   $ 1,326     $ 1,068     $ 3,762     $ 2,116  
Depreciation and amortization     1,426       372       2,853       747  
Accounts receivable – net     17,173       9,455       17,173       9,455  
Intangible assets     31,676       9,556       31,676       9,556  
Goodwill     75,509       71,506       75,509       17,506  
Total assets   $ 131,017     $ 37,391     $ 131,017     $ 37,391  
                                 
Unallocated Expenses                                
Corporate administrative expenses   $ 752     $ 634     $ 1,529     $ 1,235  
Corporate facility expenses     104       69       209       143  
Stock option amortization expense     336       191       629       385  
Board related expenses     -       19       -       38  
Acquisition, integration and restructuring expenses     181       77       221       100  
Total unallocated expenses   $ 1,373     $ 990     $ 2,588     $ 1,901  
                                 
Consolidated                                
Total revenue   $ 39,857     $ 21,549     $ 85,089     $ 42,555  
Operating income     15       327       1,490       804  
Depreciation and amortization     1,492       440       2,985       888  
Total accounts receivables – net     20,598       13,099       20,598       13,099  
Intangible assets     32,259       10,356       32,259       10,356  
Goodwill     76,593       18,590       76,593       18,590  
Total assets   $ 135,097     $ 45,660     $ 135,097     $ 45,660