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SEGMENT AND GEOGRAPHICAL INFORMATION | 3 Months Ended
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Mar. 29, 2024
SEGMENT AND GEOGRAPHICAL INFORMATION |
SEGMENT AND GEOGRAPHICAL INFORMATION | 9. SEGMENT AND GEOGRAPHICAL INFORMATION Segment Information The Company’s two segments are Energy, and Engineering and Consulting, and the Company’s chief operating decision maker, which continues to be its chief executive officer, receives and reviews financial information in this format. There were no intersegment sales during the three months ended March 29, 2024 and March 31, 2023. The Company’s chief operating decision maker evaluates the performance of each segment based upon income or loss from operations before income taxes. Certain segment asset information including expenditures for long-lived assets has not been presented as it is not reported to or reviewed by the chief operating decision maker. In addition, enterprise-wide service line contract revenue is not included as it is impracticable to report this information for each group of similar services. Financial information with respect to the reportable segments and reconciliation to the amounts reported in the Company’s Condensed Consolidated Financial Statements is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Engineering | ​ | Unallocated | ​ | ​ | ​ | ​ | Consolidated
​ |  | Energy |  | & Consulting |  | Corporate |  | Intersegment |  | Total
​ | ​ | (in thousands)
Fiscal Three Months Ended March 29, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contract revenue | ​ | $ | 100,746 | ​ | $ | 21,743 | ​ | $ | - | ​ | $ | - | ​ | $ | 122,489
Depreciation and amortization | ​ | ​ | 3,236 | ​ | ​ | 356 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 3,592
Interest expense, net | ​ | ​ | 1 | ​ | ​ | - | ​ | ​ | 2,136 | ​ | ​ | - | ​ | ​ | 2,137
Segment profit (loss) before income tax expense | ​ | ​ | 4,311 | ​ | ​ | 2,344 | ​ | ​ | (2,727) | ​ | ​ | - | ​ | ​ | 3,928
Income tax expense (benefit) | ​ | ​ | 1,083 | ​ | ​ | 588 | ​ | ​ | (685) | ​ | ​ | - | ​ | ​ | 986
Net income (loss) | ​ | ​ | 3,229 | ​ | ​ | 1,756 | ​ | ​ | (2,043) | ​ | ​ | - | ​ | ​ | 2,942
Segment assets (1) | ​ | ​ | 318,808 | ​ | ​ | 26,613 | ​ | ​ | 85,609 | ​ | ​ | (23,130) | ​ | ​ | 407,900
Fiscal Three Months Ended March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contract revenue | ​ | $ | 83,285 | ​ | $ | 19,318 | ​ | $ | - | ​ | $ | - | ​ | $ | 102,603
Depreciation and amortization | ​ | ​ | 3,924 | ​ | ​ | 276 | ​ | ​ | - | ​ | ​ | - | ​ | ​ | 4,200
Interest expense, net | ​ | ​ | 2 | ​ | ​ | - | ​ | ​ | 2,464 | ​ | ​ | - | ​ | ​ | 2,466
Segment profit (loss) before income tax expense | ​ | ​ | 2,771 | ​ | ​ | 2,587 | ​ | ​ | (3,670) | ​ | ​ | - | ​ | ​ | 1,688
Income tax expense (benefit) | ​ | ​ | 1,241 | ​ | ​ | 1,158 | ​ | ​ | (1,643) | ​ | ​ | - | ​ | ​ | 756
Net income (loss) | ​ | ​ | 1,530 | ​ | ​ | 1,428 | ​ | ​ | (2,026) | ​ | ​ | - | ​ | ​ | 932
Segment assets (1) | ​ | ​ | 323,578 | ​ | ​ | 23,587 | ​ | ​ | 69,332 | ​ | ​ | (23,130) | ​ | ​ | 393,367
(1) | Segment assets are presented net of intercompany receivables.
​ The following tables provide information about disaggregated revenue by contract type, client type and geographical region: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended March 29, 2024
​ |  | Energy |  | Engineering and Consulting |  | Total
​ |  | (in thousands)
Contract Type | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Time-and-materials | ​ | $ | 8,537 | ​ | $ | 16,399 | ​ | $ | 24,936
Unit-based | ​ | ​ | 46,957 | ​ | ​ | 4,511 | ​ | ​ | 51,468
Fixed price | ​ | ​ | 45,252 | ​ | ​ | 833 | ​ | ​ | 46,085
Total (1) | ​ | $ | 100,746 | ​ | $ | 21,743 | ​ | $ | 122,489
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Client Type | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 7,203 | ​ | $ | 1,580 | ​ | $ | 8,783
Government | ​ | ​ | 35,820 | ​ | ​ | 20,098 | ​ | ​ | 55,918
Utilities (2) | ​ | ​ | 57,723 | ​ | ​ | 65 | ​ | ​ | 57,788
Total (1) | ​ | $ | 100,746 | ​ | $ | 21,743 | ​ | $ | 122,489
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Geography (3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic | ​ | $ | 100,746 | ​ | $ | 21,743 | ​ | $ | 122,489
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended March 31, 2023
​ |  | Energy |  | Engineering and Consulting |  | Total
​ |  | (in thousands)
Contract Type | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Time-and-materials | ​ | $ | 7,709 | ​ | $ | 14,554 | ​ | $ | 22,263
Unit-based | ​ | ​ | 44,927 | ​ | ​ | 3,616 | ​ | ​ | 48,543
Fixed price | ​ | ​ | 30,649 | ​ | ​ | 1,148 | ​ | ​ | 31,797
Total (1) | ​ | $ | 83,285 | ​ | $ | 19,318 | ​ | $ | 102,603
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Client Type | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 6,719 | ​ | $ | 1,164 | ​ | $ | 7,883
Government | ​ | ​ | 26,075 | ​ | ​ | 18,095 | ​ | ​ | 44,170
Utilities (2) | ​ | ​ | 50,491 | ​ | ​ | 59 | ​ | ​ | 50,550
Total (1) | ​ | $ | 83,285 | ​ | $ | 19,318 | ​ | $ | 102,603
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Geography (3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Domestic | ​ | $ | 83,285 | ​ | $ | 19,318 | ​ | $ | 102,603
| (1) | Amounts may not add to the totals due to rounding.
| (2) | Includes the portion of revenue related to small business programs paid by the end user/customer.
| (3) | Revenue from the Company’s foreign operations were not material for the three months ended March 29, 2024 and March 31, 2023.
​ Geographical Information ​ Substantially all of the Company’s consolidated revenue was derived from its operations in the U.S. The Company operates through a network of offices spread across 22 U.S. states, the District of Columbia, the Commonwealth of Puerto Rico, and Canada. Revenues from the Company’s Puerto Rican and Canadian operations were not material for the three months ended March 29, 2024 nor the three months ended March 31, 2023. Customer Concentration For the three months ended March 29, 2024 and March 31, 2023, the Company’s top 10 customers accounted for 49.2%, and 52.2%, respectively, of the Company’s consolidated contract revenue. For the three months ended March 29, 2024, the Company had no individual customers that accounted for more than 10% of its consolidated contract revenue. For the three months ended March 31, 2023, the Company had one customer, the Los Angeles Department of Water and Power (“LADWP”), that accounted for 11.1% of its consolidated contract revenues. On a segment basis, the Company had individual customers that accounted for more than 10% of its segment contract revenues. For the three months ended March 29, 2024, the Company derived 10.7% of its Energy segment revenues from one customer, LADWP, and no single customer accounted for 10% or more of the Company’s Engineering and Consulting segment revenues. For the three months ended March 31, 2023, the Company derived 13.7% of its Energy segment revenues from one customer, LADWP, and no single customer accounted for 10% or more of its Engineering and Consulting segment revenues. On a geographical basis, the Company’s largest clients are based in California and New York. For the three months ended March 29, 2024 and March 31, 2023, services provided to clients in California accounted for 43.5% and 42.4%, respectively, of the Company’s consolidated contract revenue, and services provided to clients in New York accounted for 27.1% and 24.5%, respectively, of the Company’s consolidated contract revenue.

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