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BUSINESS SEGMENTS

9 Months Ended

Sep. 29, 2019

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

The Company operates within three industry segments: Real Estate, Professional, and Light Industrial. The Real Estate segment provides office and maintenance field talent to various apartment communities and commercial buildings via property management companies responsible for the apartment communities' and commercial buildings' day-to-day operations. The Professional segment provides skilled field talent on a nationwide basis for IT and finance and accounting client partner projects. The Light Industrial segment provides field talent primarily to logistics, distribution, and call center client partners needing a flexible workforce.

Segment operating income includes all revenue and cost of services, direct selling expenses, depreciation and amortization expense and excludes all general and administrative (corporate) expenses. Assets of corporate include cash, unallocated prepaid expenses, deferred tax assets, and other assets.

The following table provides a reconciliation of revenue and operating income by reportable segment to consolidated results for the periods indicated:

		Thirteen Weeks Ended								Thirty-nine Weeks Ended
		September 29, 2019				September 30, 2018				September 29, 2019				September 30, 2018
Revenue:
Real Estate		$	29,470,693			$	26,531,283			$	73,043,258			$	65,864,097
Professional		31,506,017				29,171,990				93,421,017				90,394,110
Light Industrial		18,387,596				21,358,864				55,533,988				58,604,838
Total		$	79,364,306			$	77,062,137			$	221,998,263			$	214,863,045
Depreciation:
Real Estate		$	50,957			$	44,784			$	140,490			$	125,820
Professional		82,201				74,488				251,152				190,952
Light Industrial		23,663				23,446				73,673				76,372
Corporate		47,452				51,923				142,804				152,607
Total		$	204,273			$	194,641			$	608,119			$	545,751

Amortization:
Professional		$	986,274			$	1,047,510			$	3,005,618			$	3,132,372
Light Industrial		—				—				—				110,251
Corporate		6,206				5,386				18,763				13,051
Total		$	992,480			$	1,052,896			$	3,024,381			$	3,255,674
Operating income:
Real Estate		$	5,523,769			$	4,958,373			$	12,464,689			$	11,285,951
Professional		2,144,549				2,143,426				6,190,331				6,499,285
Light Industrial		1,174,142				1,560,895				3,514,758				3,948,874
Corporate - selling		(131,389		)		(212,877		)		(399,370		)		(541,467		)
Corporate - general and administrative		(2,233,959		)		(2,346,793		)		(6,285,830		)		(5,649,148		)
Corporate - gain on contingent consideration		—				988,303				—				2,160,307
Total		$	6,477,112			$	7,091,327			$	15,484,578			$	17,703,802

		Thirteen Weeks Ended								Thirty-nine Weeks Ended
		September 29, 2019				September 30, 2018				September 29, 2019				September 30, 2018
Capital expenditures:
Real Estate		$	204,442			$	37,681			$	244,321			$	114,990
Professional		77,809				121,170				474,668				382,925
Light Industrial		76,103				44,018				83,734				87,990
Corporate		501,910				25,945				731,293				95,428
Total		$	860,264			$	228,814			$	1,534,016			$	681,333

		September 29, 2019				December 30, 2018
Total Assets:
Real Estate		$	19,341,023			$	12,647,505
Professional		61,100,018				62,403,104
Light Industrial		18,765,095				18,992,392
Corporate		6,787,114				6,225,802
Total		$	105,993,250			$	100,268,803

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- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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