XML 25 R15.htm IDEA: XBRL DOCUMENT v3.24.1.u1

SEGMENT AND GEOGRAPHICAL INFORMATION

3 Months Ended

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. 

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration