Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

v3.19.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
NET REVENUES:        
Contract staffing services $ 31,827 $ 34,520 $ 65,840 $ 73,981
Direct hire placement services 4,350 5,337 8,880 11,108
NET REVENUES 36,177 39,857 74,720 85,089
Cost of contract services 24,459 26,231 50,271 55,689
GROSS PROFIT 11,718 13,626 24,449 29,400
Selling, general and administrative expenses (including noncash stock-based compensation expense of $549 and $336, and $1,130 and $629 respectively) 10,449 11,938 20,528 24,704
Acquisition, integration and restructuring expenses 592 181 1,751 221
Depreciation expense 101 98 180 195
Amortization of intangible assets 1,397 1,394 2,793 2,790
INCOME FROM OPERATIONS (821) 15 (803) 1,490
Interest expense (3,085) (2,199) (6,033) (5,493)
LOSS BEFORE INCOME TAX PROVISION (3,906) (2,184) (6,836) (4,003)
Provision for income tax 16 (694) (506) (666)
NET LOSS (3,890) (2,878) (7,342) (4,669)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS $ (3,890) $ (2,878) $ (7,342) $ (4,669)
BASIC AND DILUTED LOSS PER SHARE $ (0.34) $ (0.28) $ (0.65) $ (0.46)
WEIGHTED AVERAGE NUMBER OF SHARES - BASIC AND DILUTED 11,414 10,426 11,047 10,165