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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information

NOTE 15 – SEGMENT INFORMATION

The Company provides a broad array of professional services to its clients across several markets, primarily within the U.S. The Company operates as a single reportable and operating segment because the chief operating decision maker (the “CODM”), which is the Chief Executive Officer, manages the business activities on a consolidated basis. Although the Company disaggregates revenue by client market and client type, it does not manage its business or allocate resources based on client market or type.

The CODM assesses segment performance based on consolidated net income as reported on the Company’s consolidated statements of comprehensive income. The CODM uses consolidated net income to evaluate the Company’s performance against budgets and decide whether to use the profits to invest in the business, pay down debt, repurchase stock, pay dividends, or fund acquisitions. Asset information provided to the CODM is not used for the purpose of making decisions and assessing performance of the Company.

The segment revenue, significant segment expenses, and segment profit are as follows:

 

 

Three Months Ended March 31,

 

 

 

2025

 

 

2024

 

Revenue

 

$

487,618

 

 

$

494,436

 

Significant segment expenses:

 

 

 

 

 

 

Direct labor and related fringe costs

 

 

191,930

 

 

 

190,023

 

Subcontractors and other direct costs

 

 

110,612

 

 

 

120,510

 

Indirect and selling expenses

 

 

131,891

 

 

 

129,094

 

Depreciation and amortization

 

 

5,318

 

 

 

5,574

 

Amortization of intangible assets acquired in business combinations

 

 

9,477

 

 

 

8,291

 

Interest expense

 

 

7,423

 

 

 

8,329

 

Provision for income taxes

 

 

3,150

 

 

 

7,019

 

Other segment expense (income) (1)

 

 

966

 

 

 

(1,721

)

Net Income

 

$

26,851

 

 

$

27,317

 

(1) Other segment expense (income) includes interest income, foreign currency expense, and gains/losses on disposition of assets.