Quarterly Results Of Operations (Unaudited)

12 Months Ended

Sep. 30, 2011

Quarterly Results Of Operations (Unaudited) [Abstract]

Quarterly Results Of Operations (Unaudited)

17. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

Quarterly financial information for the years ended September 30, 2011 and 2010, are summarized as follows:

		Fiscal Year Ended September 30, 2011
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter
		(As Restated)		(As Restated)		(As Restated)
Revenues		$	113,649	$	118,326	$	122,714	$	126,918
Gross profit		$	11,172	$	5,357	$	9,063	$	10,430
Restructuring charges		$	-	$	-	$	1,667	$	2,117
Net income (loss)		$	(4,273)	$	(10,081)	$	(11,347)	$	(11,992)
Earnings (loss) per share from continuing
	operations:
	Basic	$	(0.30)	$	(0.70)	$	(0.78)	$	(0.82)
	Diluted	$	(0.30)	$	(0.70)	$	(0.78)	$	(0.82)
Earnings (loss) per share:
	Basic	$	(0.30)	$	(0.70)	$	(0.78)	$	(0.82)
	Diluted	$	(0.30)	$	(0.70)	$	(0.78)	$	(0.82)

The sum of the individual quarterly earnings per share amounts may not agree with year-to-date earnings per share as each period's computation is based on the weighted average number of shares outstanding during the period.

In the quarter ended December 31, 2010, we recorded an impairment charge of $3,551 associated with internally developed software we discontinued and we recorded a gain of $6,763 relating to the sale of a non core manufacturing facility.

In the fourth quarter of fiscal 2011, we determined that $2,157 of accelerated amortization expenses attributable to the decision in October, 2010 to replace certain software earlier than its original assigned life should have been recorded in the first, second and third quarterly reporting periods of fiscal 2011. Additionally, during the fourth quarter of fiscal 2011 we determined an error was made in recording a change order for $475 on one job. As such, we have restated the quarterly information in the tables above to correct these errors, and have provided restated financial statements in the tables below.

		Fiscal Year Ended September 30, 2010
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter
Revenues		$	120,248	$	107,619	$	121,405	$	111,361
Gross profit		$	19,932	$	13,588	$	15,077	$	7,896
Restructuring charges		$	698	$	65	$	-	$	-
Net income (loss)		$	(805)	$	(13,230)	$	(6,557)	$	(11,555)
Earnings (loss) per share from continuing operations
	Basic	$	(0.06)	$	(0.92)	$	(0.45)	$	(0.80)
	Diluted	$	(0.06)	$	(0.92)	$	(0.45)	$	(0.80)
Earnings (loss) per share:
	Basic	$	(0.06)	$	(0.92)	$	(0.45)	$	(0.80)
	Diluted	$	(0.06)	$	(0.92)	$	(0.45)	$	(0.80)

In the second quarter of fiscal 2010, we had a charge of $3,714 related to a reserve placed on a long-term receivable. We ultimately recovered $2,850 in connection with a settlement in connection with a breach of contract and mechanic's lien foreclosure actions related to this receivable in the second quarter of fiscal 2011.

				As of December 31, 2010
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	26,946	$	-	$	26,946
		Accounts receivable:
			Trade, Net		82,630		-		82,630
			Retainage		17,281		-		17,281
		Inventories			13,542		-		13,542
		Costs and estimated earnings in excess of billings on uncompleted contracts			13,545		-		13,545
		Prepaid expenses and other current assets			4,976		-		4,976
	Total current assets				158,920		-		158,920
	LONG TERM NOTES RECEIVABLES, net				422		-		422
	PROPERTY AND EQUIPMENT, net				12,419		(719)		11,700
	GOODWILL				3,981		-		3,981
	OTHER NON-CURRENT ASSETS, net				11,561		-		11,561
Total assets				$	187,303	$	(719)	$	186,584
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	609	$	-	$	609
		Accounts payable and accrued expenses			55,939		(98)		55,841
		Billings in excess of costs and estimated earnings on uncompleted contracts			14,992		-		14,992
	Total current liabilities				71,540		(98)		71,442
	LONG-TERM DEBT, net of current maturities				10,405		-		10,405
	LONG-TERM DEFERRED TAX LIABILITY				1,045		-		1,045
	OTHER NON-CURRENT LIABILITIES				6,190		-		6,190
Total liabilities					89,180		(98)		89,082
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(9,770)		-		(9,770)
		Additional paid-in capital			167,710		-		167,710
		Retained deficit			(59,971)		(621)		(60,592)
Total stockholders’ equity					98,123		(621)		97,502
Total liabilities and stockholders’ equity				$	187,303	$	(719)	$	186,584

			Three months ended December 31, 2010
			As Reported		Adjustments		As Restated

Revenues			$	113,649	$	-	$	113,649
Cost of services				102,477		-		102,477
	Gross profit			11,172		-		11,172
Selling, general and administrative expenses				18,021		719		18,740
Gain on sale of assets				(6,729)		-		(6,729)
Asset Impairment				3,551		-		3,551
	Loss from operations			(3,671)		(719)		(4,390)
Interest and other (income) expense:
	Interest expense			599		-		599
	Interest income			(25)		-		(25)
	Other (income) expense, net			(15)		-		(15)
		Interest and other expense, net		559		-		559
Loss from operations before income taxes				(4,230)		(719)		(4,949)
Provision (benefit) for income taxes				(578)		(98)		(676)
Net loss			$	(3,652)	$	(621)	$	(4,273)

Basic loss per share:
	Continuing operations		$	(0.25)	$	(0.04)	$	(0.30)
	Total		$	(0.25)	$	(0.04)	$	(0.30)

Diluted loss per share:
	Continuing operations		$	(0.25)	$	(0.04)	$	(0.30)
Total			$	(0.25)	$	(0.04)	$	(0.30)
Shares used in the computation of loss per share (Note 6 "Per Share Information"):
	Basic			14,447,357		14,447,357		14,447,357
	Diluted			14,447,357		14,447,357		14,447,357

				As of March 31, 2011
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	36,707	$	-	$	36,707
		Accounts receivable:
			Trade, Net		82,915		-		82,915
			Retainage		18,397		-		18,397
		Inventories			9,454		-		9,454
		Costs and estimated earnings in excess of billings on uncompleted contracts			15,115		-		15,115
		Prepaid expenses and other current assets			5,031		-		5,031
	Total current assets				167,619		-		167,619
	LONG TERM NOTES RECEIVABLES, net				315		-		315
	PROPERTY AND EQUIPMENT, net				11,642		(1,438)		10,204
	GOODWILL				3,981		-		3,981
	OTHER NON-CURRENT ASSETS, net				8,942		-		8,942
Total assets				$	192,499	$	(1,438)	$	191,061
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	447	$	-	$	447
		Accounts payable and accrued expenses			71,049		26		71,075
		Billings in excess of costs and estimated earnings on uncompleted contracts			14,212		-		14,212
	Total current liabilities				85,708		26		85,734
	LONG-TERM DEBT, net of current maturities				10,418		-		10,418
	LONG-TERM DEFERRED TAX LIABILITY				1,046		-		1,046
	OTHER NON-CURRENT LIABILITIES				6,177		-		6,177
Total liabilities					103,349		26		103,375
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(6,861)		-		(6,861)
		Additional paid-in capital			165,065		-		165,065
		Retained deficit			(69,208)		(1,464)		(70,672)
Total stockholders’ equity					89,150		(1,464)		87,686
Total liabilities and stockholders’ equity				$	192,499	$	(1,438)	$	191,061

			Three months ended March 31, 2011						Six months ended March 31, 2011
			As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

Revenues			$	118,326	$	-	$	118,326	$	231,975	$	-	$	231,975
Cost of services				112,969		-		112,969		215,447		-		215,447
	Gross profit			5,357		-		5,357		16,528		-		16,528
Selling, general and administrative expenses				13,333		719		14,052		31,354		1,438		32,792
Gain on sale of assets				(87)		-		(87)		(6,816)		-		(6,816)
Asset Impairment				-		-		-		3,551		-		3,551
	Loss from operations			(7,889)		(719)		(8,608)		(11,561)		(1,438)		(12,999)
Interest and other (income) expense:
	Interest expense			576		-		576		1,175		-		1,175
	Interest income			(24)		-		(24)		(49)		-		(49)
	Other (income) expense, net			(8)		-		(8)		(24)		-		(24)
		Interest and other expense, net		544		-		544		1,102		-		1,102
Loss from operations before income taxes				(8,433)		(719)		(9,152)		(12,663)		(1,438)		(14,101)
Provision (benefit) for income taxes				804		125		929		227		26		253
Net loss			$	(9,237)	$	(844)	$	(10,081)	$	(12,890)	$	(1,464)	$	(14,354)

Basic loss per share:
	Continuing operations		$	(0.64)	$	(0.06)	$	(0.70)	$	(0.89)	$	(0.10)	$	(0.99)
Total			$	(0.64)	$	(0.06)	$	(0.70)	$	(0.89)	$	(0.10)	$	(0.99)

Diluted loss per share:
	Continuing operations		$	(0.64)	$	(0.06)	$	(0.70)	$	(0.89)	$	(0.10)	$	(0.99)
Total			$	(0.64)	$	(0.06)	$	(0.70)	$	(0.89)	$	(0.10)	$	(0.99)
Shares used in the computation of loss per share (Note 6 "Per Share Information"):
	Basic			14,481,005		14,481,005		14,481,005		14,463,996		14,463,996		14,463,996
	Diluted			14,481,005		14,481,005		14,481,005		14,463,996		14,463,996		14,463,996

				As of June 30, 2011
				As Reported		Adjustments		As Restated
ASSETS
	CURRENT ASSETS:
		Cash and cash equivalents		$	23,039	$	-	$	23,039
		Accounts receivable:
			Trade, Net		85,749		-		85,749
			Retainage		19,845		-		19,845
		Inventories			6,203		-		6,203
		Costs and estimated earnings in excess of billings on uncompleted contracts			12,038		(475)		11,563
		Prepaid expenses and other current assets			4,600		-		4,600
	Total current assets				151,474		(475)		150,999
	LONG TERM NOTES RECEIVABLES, net				235		-		235
	PROPERTY AND EQUIPMENT, net				12,097		(2,157)		9,940
	GOODWILL				3,981		-		3,981
	OTHER NON-CURRENT ASSETS, net				8,895		-		8,895
Total assets				$	176,682	$	(2,632)	$	174,050
LIABILITIES AND STOCKHOLDERS’ EQUITY
	CURRENT LIABILITIES:
		Current maturities of long-term debt		$	265	$	-	$	265
		Accounts payable and accrued expenses			67,127		15		67,142
		Billings in excess of costs and estimated earnings on uncompleted contracts			12,644		-		12,644
	Total current liabilities				80,036		15		80,051
	LONG-TERM DEBT, net of current maturities				10,346		-		10,346
	LONG-TERM DEFERRED TAX LIABILITY				1,046		-		1,046
	OTHER NON-CURRENT LIABILITIES				6,022		-		6,022
Total liabilities					97,450		15		97,465
	STOCKHOLDERS’ EQUITY:
		Preferred stock, $0.01 par value			-		-		-
		Common stock, $0.01 par value			154		-		154
		Treasury stock, at cost			(7,081)		-		(7,081)
		Additional paid-in capital			165,531		-		165,531
		Retained deficit			(79,372)		(2,647)		(82,019)
Total stockholders’ equity					79,232		(2,647)		76,585
Total liabilities and stockholders’ equity				$	176,682	$	(2,632)	$	174,050

			Three months ended June 30, 2011						Nine months ended June 30, 2011
			As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated

Revenues			$	123,189	$	(475)	$	122,714	$	355,163	$	(475)	$	354,688
Cost of services				113,651		-		113,651		329,097		-		329,097
	Gross profit			9,538		(475)		9,063		26,066		(475)		25,591
Selling, general and administrative expenses				17,412		719		18,131		48,766		2,157		50,923
Gain on sale of assets				136		-		136		(6,679)		-		(6,679)
Asset Impairment				-		-		-		3,551		-		3,551
Restructuring charges				1,667		-		1,667		1,667		-		1,667
	Loss from operations			(9,677)		(1,194)		(10,871)		(21,239)		(2,632)		(23,871)
Interest and other (income) expense:
	Interest expense			571		-		571		1,746		-		1,746
	Interest income			(13)		-		(13)		(62)		-		(62)
	Other (income) expense, net			21		-		21		(3)		-		(3)
		Interest and other expense, net		579		-		579		1,681		-		1,681
Loss from operations before income taxes				(10,256)		(1,194)		(11,450)		(22,920)		(2,632)		(25,552)
Provision (benefit) for income taxes				(91)		(12)		(103)		135		15		150
Net loss			$	(10,165)	$	(1,182)	$	(11,347)	$	(23,055)	$	(2,647)	$	(25,702)

Basic loss per share:
	Continuing operations		$	(0.70)	$	(0.08)	$	(0.78)	$	(1.59)	$	(0.18)	$	(1.78)
Total			$	(0.70)	$	(0.08)	$	(0.78)	$	(1.59)	$	(0.18)	$	(1.78)

Diluted loss per share:
	Continuing operations		$	(0.70)	$	(0.08)	$	(0.78)	$	(1.59)	$	(0.18)	$	(1.78)
Total			$	(0.70)	$	(0.08)	$	(0.78)	$	(1.59)	$	(0.18)	$	(1.78)
Shares used in the computation of loss per share (Note 6 "Per Share Information"):
	Basic		14,491,966		14,491,966		14,491,966		14,472,441		14,472,441		14,472,441
	Diluted		14,491,966		14,491,966		14,491,966		14,472,441		14,472,441		14,472,441

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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