v3.26.1
Note 13 - Segment Information
3 Months Ended
Apr. 04, 2026
Notes to Financial Statements  
Segment Reporting [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 fiscal 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 the revised segment results for both fiscal 2025 and the prior period on a comparable basis.

 

The following tables 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. Please refer to the segment discussion of the Management’s Discussion and Analysis of Financial Condition and Results of Operations section of this Report on Form 10-Q.

 

Thirteen Weeks Ended

April 4, 2026

 

Specialty

Healthcare

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $48,104  $26,137  $8,797  $-  $83,038 

Cost of services

  34,663   20,836   5,518   -   61,017 

Gross profit

  13,441   5,301   3,279   -   22,021 

Selling, general and administrative

  6,683   2,703   1,198   4,945   15,529 

Depreciation and amortization of property and equipment

  122   223   36   173   554 

Operating income

 $6,636  $2,375  $2,045  $(5,118) $5,938 

Total assets as of April 4, 2026

 $44,955  $64,288  $13,525  $12,559  $135,327 

Property and equipment acquired

 $33  $41  $-  $23  $97 

 

Thirteen Weeks Ended

March 29, 2025

 

Specialty

Healthcare

  

Engineering

  

Life Sciences,

Data &

Solutions

  

Corporate

  

Total

 

Revenue

 $43,283  $32,142  $9,048  $-  $84,473 

Cost of services

  31,080   25,957   5,458   -   62,495 

Gross profit

  12,203   6,185   3,590   -   21,978 

Selling, general and administrative

  5,929   3,134   1,426   4,482   14,971 

Depreciation and amortization of property and equipment

  100   171   40   113   424 

Operating income

 $6,174  $2,880  $2,124  $(4,595) $6,583 

Total assets as of March 29, 2025

 $16,121  $47,485  $44,206  $13,180  $120,992 

Property and equipment acquired

 $35  $66  $54  $272  $427 

 

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 and Europe. Revenue by geographic area for the thirteen weeks ended April 4, 2026 and March 29, 2025 was as follows:

 

  

Thirteen Weeks Ended

 
  

April 4,

2026

  

March 29,

2025

 

Revenue

        

United States

 $77,740  $78,838 

Canada

  1,304   1,916 

Puerto Rico

  1,760   1,607 

Europe

  2,234   2,112 
  $83,038  $84,473 

 

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

 

  

April 4,

2026

  

January 3,

2026

 

Total assets

        

United States

 $122,729  $123,021 

Canada

  1,869   1,828 

Puerto Rico

  2,892   2,637 

Europe

  7,410   6,594 

Philippines

  427   317 
  $135,327  $134,397