Quarterly report pursuant to Section 13 or 15(d)

Segment Data

v3.10.0.1
Segment Data
3 Months Ended
Dec. 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 Company’s 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  
(in thousands)   December 31,  
    2018     2017  
Industrial Staffing Services            
Industrial services revenue   $ 5,620     $ 5,872  
Industrial services gross margin     13.9 %     15.6 %
Operating income   $ 255     $ 253  
Depreciation & amortization     64       66  
Accounts receivable – net     3,136       3,521  
Intangible assets     415       637  
Goodwill     1,084       519  
Total assets   $ 4,635     $ 4,177  
                 
Professional Staffing Services                
Permanent placement revenue   $ 4,529     $ 5,771  
Placement services gross margin     100 %     100 %
Professional services revenue   $ 28,394     $ 33,589  
Professional services gross margin     26.14 %     27.0 %
Operating income   $ 2,219     $ 2,477  
Depreciation and amortization     1,411       1,427  
Accounts receivable – net     15,911       19,148  
Intangible assets     27,655       33,016  
Goodwill     75,509       76,074  
Total assets   $ 126,270     $ 134,844  
                 
Unallocated Expenses                
Corporate administrative expenses   $ 609     $ 817  
Corporate facility expenses     106       105  
Stock Compensation expense     581       293  
Acquisition, integration and restructuring expenses     1,159       40  
Total unallocated expenses   $ 2,455     $ 1,255  
                 
Consolidated                
Total revenue   $ 38,543     $ 45,232  
Operating income     19       1,475  
Depreciation and amortization     1,475       1,493  
Total accounts receivables – net     19,047       22,669  
Intangible assets     28,070       33,653  
Goodwill     76,593       76,593  
Total assets   $ 130,905     $ 139,021