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ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 29, 2024
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | The final purchase price has been allocated to the assets acquired and liabilities as follows (in thousands):
Accounts receivable |  | $ | 3,476 |
Prepaid expenses and other assets |  | 72 |
Property and equipment, net |  | 145 |
Right-of-use asset - operating lease |  | 141 |
Intangible assets |  | 11,760 |
Goodwill (no deductible tax basis) |  | 3,400 |
Current liabilities assumed |  | (2,621) |
Lease liabilities - operating leases | (85) |
Total net assets acquired |  | $ | 16,288 |
Cash |  | $ | 6,800 |
Hold back, working capital* |  | 350 |
Hold back, indemnities* |  | 850 |
Working capital adjustment* |  | 679 |
Fair value of contingent consideration |  | 7,609 |
Total fair value of consideration transferred for acquired business |  | $ | 16,288 |
*Included in Other current liabilities as of December 31, 2023 |  |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The allocation of the intangible assets is as follows (in thousands):
|  | Estimated Fair Value |  | Estimated Useful Lives
Covenants not to compete |  | $ | 356 |  |  | 5 years
Client partner list |  | 11,234 |  |  | 10 years
Computer software |  | 170 |  |  | 5 years
Total |  | $ | 11,760 |  |  |
Business Acquisition, Pro Forma Information | The Company estimates what would have been reported if the revenues and net income of the Arroyo Consulting acquisition had taken place on the first day of Fiscal 2023 (in thousands, except income per share):
|  | Thirteen Weeks Ended |  |  | Thirty-nine Weeks Ended
|  | October 1, 2023 |  |  | October 1, 2023
Revenues |  | $ | 83,484 |  |  |  | $ | 246,403 |
Gross profit |  | $ | 29,979 |  |  |  | $ | 88,506 |
Net income (loss) |  | $ | 2,640 |  |  |  | $ | (10,479) |
Income (loss) per share: |  |  |  |  |
Basic |  | $ | 0.24 |  |  |  | $ | (0.97) |
Diluted |  | $ | 0.24 |  |  |  | $ | (0.97) |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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