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Note 13 - Segment Information
 6 Months Ended
Jun. 28, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

13.   Segment Information

 

The Company follows ASC 280, “Segment Reporting,” which establishes standards for companies to report information about operating segments, geographic areas and major customers. The accounting policies of each reportable segment are the same as those described in the summary of significant accounting policies (see Note 1 to the Company’s Consolidated Financial Statements).

 

The Company reports segment information based on the management approach, which designates the internal reporting used by the Chief Operating Decision Makers (“CODMs”), who were Bradley Vizi, Chief Executive Officer, and Kevin Miller, Chief Financial Officer. The Company’s CODMs are responsible for making decisions regarding the Company’s business, including resource allocations and performance assessments based on historical and future segment revenue, operating expenses, and operating income (loss) before interest and taxes.

 

In the second quarter of 2025, the Company made certain revisions to the internal measurement of segment operating results for the purpose of evaluating segment performance and resource allocation. The revised segment reporting now presents corporate operating costs separately instead of allocating them to the operating segments. The revision was the result of a shift in the CODM’s more granular and independent focus on the now four segments. We have presented 2025 segment operating results herein using the new methodology and prior period disclosures have been revised to present results on a comparable basis.

 

The tables below summarize the results of operations and total assets by segment provided to the CODMs. Segment operating income (loss) includes selling, general, and administrative expenses directly attributable to that segment. The following tables reflect the results of the reportable segments consistent with the Company’s management system:

 

Thirteen Weeks Ended

June 28, 2025

 

Specialty

Health Care

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $42,822  $26,521  $8,823  $-  $78,166 

Cost of services

  30,545   20,031   5,313   -   55,889 

Gross profit

  12,277   6,490   3,510   -   22,277 

Selling, general and administrative

  6,114   3,016   1,490   4,655   15,275 

Depreciation and amortization of

property and equipment

  87   159   38   117   401 

Operating income (loss)

 $6,076  $3,315  $1,982  $(4,772) $6,601 

Total assets as of June 28, 2025

 $48,201  $58,284  $16,492  $12,609  $135,586 

Property and equipment acquired

 $75  $176  $(3) $225  $473 

 

 

Thirteen Weeks Ended

June 29, 2024

 

Specialty

Health Care

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $36,932  $22,508  $9,724  $-  $69,164 

Cost of services

  26,293   16,542   6,328   -   49,163 

Gross profit

  10,639   5,966   3,396   -   20,001 

Selling, general and administrative

  5,292   2,847   1,720   3,686   13,545 

Depreciation and amortization of

property and equipment

  90   140   33   69   332 

Amortization of acquired

intangible assets

  -   -   46   -   46 

Costs associated with potential stock

issuance

  -   -   -   259   259 

Operating income (loss)

 $5,257  $2,979  $1,597  $(4,014) $5,819 

Total assets as of June 29, 2024

 $40,236  $47,387  $20,390  $10,265  $118,278 

Property and equipment acquired

 $60  $45  $6  $287  $398 

 

 

Twenty-Six Weeks Ended

June 28, 2025

 

Specialty

Health Care

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $86,105  $58,663  $17,871  $-  $162,639 

Cost of services

  61,624   45,989   10,771   -   118,384 

Gross profit

  24,481   12,674   7,100   -   44,255 

Selling, general and administrative

  12,043   6,150   2,916   9,137   30,246 

Depreciation and amortization of

property and equipment

  187   330   78   230   825 

Operating income (loss)

 $12,251  $6,194  $4,106  $(9,367) $13,184 

Total assets as of June 28, 2025

 $48,201  $58,284  $16,492  $12,609  $135,586 

Property and equipment acquired

 $129  $242  $32  $497  $900 

 

 

Twenty-Six Weeks Ended

June 29, 2024

 

Specialty

Health Care

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $75,114  $46,013  $19,976  $-  $141,103 

Cost of services

  53,409   34,540   12,786   -   100,735 

Gross profit

  21,705   11,473   7,190   -   40,368 

Selling, general and administrative

  10,754   5,814   3,730   7,446   27,744 

Depreciation and amortization of

property and equipment

  180   276   67   96   619 

Amortization of acquired

intangible assets

  -   -   91   -   91 

Costs associated with potential stock

issuance

  -   -   -   259   259 

Operating income (loss)

 $10,771  $5,383  $3,302  $(7,801) $11,655 

Total assets as of June 29, 2024

 $40,236  $47,387  $20,390  $10,265  $118,278 

Property and equipment acquired

 $167  $244  $20  $636  $1,067 

 

 

The Company derives a majority of its revenue from offices in the United States. Revenues reported for each operating segment are all from external customers. The Company is domiciled in the United States and its segments operate in the United States, Canada, Puerto Rico, Europe and Philippines. Revenue by geographic area for the thirteen and twenty-six weeks ended June 28, 2025 and June 29, 2024 was as follows:

 

  

Thirteen Weeks Ended

  

Twenty-Six Weeks Ended

 
  

June 28, 2025

  

June 29, 2024

  

June 28, 2025

  

June 29, 2024

 

Revenue

                

United States

 $73,226  $63,569  $152,064  $130,420 

Canada

  1,943   1,618   3,859   3,087 

Puerto Rico

  1,544   2,019   3,151   4,020 

Europe

  1,453   1,958   3,565   3,576 

Philippines

  -   -   -   - 
  $78,166  $69,164  $162,639  $141,103 

 

 

Total assets by geographic area as of the reported periods were as follows:

 

  

June 28,

2025

  

December 28,

2024

 

Total assets

        

United States

 $125,880  $123,905 

Canada

  1,543   1,423 

Puerto Rico

  2,921   3,286 

Europe

  5,025   3,408 

Philippines

  217   55 
  $135,586  $132,077