Quarterly report pursuant to Section 13 or 15(d)

Operating Segments (Tables)

v3.19.3
Operating Segments (Tables)
9 Months Ended
Sep. 30, 2019
Operating Segments  
Schedule of Segment Reporting Information

Condensed consolidated segment information for the periods presented is as follows:

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 

(in thousands)

    

2019

    

2018

Statement of Operations Data:

 

 

  

 

 

  

Revenue:

 

 

  

 

 

  

Construction

 

$

118,076

 

$

109,389

Service

 

 

29,692

 

 

25,673

Total revenue

 

 

147,768

 

 

135,062

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

Construction

 

 

10,602

 

 

4,967

Service

 

 

7,189

 

 

5,723

Total gross profit

 

 

17,791

 

 

10,690

 

 

 

 

 

 

 

Selling, general and administrative expenses:

 

 

 

 

 

 

Construction

 

 

8,439

 

 

7,770

Service

 

 

4,622

 

 

3,680

Corporate

 

 

3,507

 

 

1,875

Total selling, general and administrative expenses

 

 

16,568

 

 

13,325

Amortization of intangibles

 

 

149

 

 

304

Operating income (loss)

 

$

1,074

 

$

(2,939)

 

 

 

 

 

 

 

Operating income (loss) for reportable segments

 

$

1,074

 

$

(2,939)

Other expenses:

 

 

 

 

 

 

Impairment of goodwill (Construction)

 

 

(4,359)

 

 

 —

 

 

 

 

 

 

 

Less unallocated amounts:

 

 

 

 

 

 

Interest expense, net

 

 

(1,759)

 

 

(787)

Gain on disposition of property and equipment

 

 

17

 

 

36

Gain on change in fair value of warrant liability

 

 

525

 

 

 —

Total unallocated amounts

 

 

(1,217)

 

 

(751)

Loss before income taxes

 

$

(4,502)

 

$

(3,690)

 

 

 

 

 

 

 

Other Data:

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

Construction

 

$

783

 

$

710

Service

 

 

207

 

 

185

Corporate

 

 

371

 

 

523

Total other data

 

$

1,361

 

$

1,418

 

 

 

 

 

 

 

 

 

    

Nine months ended September 30,

(in thousands)

 

2019

 

2018

Statement of Operations Data:

 

  

 

 

  

 

Revenue:

 

 

  

 

 

  

Construction

 

$

327,675

 

$

319,934

Service

 

 

86,797

 

 

75,208

Total revenue

 

 

414,472

 

 

395,142

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

Construction

 

 

34,337

 

 

23,738

Service

 

 

20,888

 

 

16,037

Total gross profit

 

 

55,225

 

 

39,775

 

 

 

 

 

 

 

Selling, general and administrative expenses:

 

 

 

 

 

 

Construction

 

 

24,280

 

 

22,780

Service

 

 

13,393

 

 

11,516

Corporate

 

 

12,018

 

 

8,380

Total selling, general and administrative expenses

 

 

49,691

 

 

42,676

Amortization of intangibles

 

 

499

 

 

975

Operating income (loss)

 

$

5,035

 

$

(3,876)

 

 

 

 

 

 

 

Operating income (loss) for reportable segments

 

$

5,035

 

$

(3,876)

Other expenses:

 

 

 

 

 

 

Impairment of goodwill (Construction)

 

 

(4,359)

 

 

 —

 

 

 

 

 

 

 

Less unallocated amounts:

 

 

 

 

 

 

Interest expense, net

 

 

(4,190)

 

 

(2,355)

Gain on disposition of property and equipment

 

 

38

 

 

76

Loss on debt extinguishment

 

 

(513)

 

 

 —

Gain on change in fair value of warrant liability

 

 

422

 

 

 —

Total unallocated amounts

 

 

(4,243)

 

 

(2,279)

Loss before income taxes

 

$

(3,567)

 

$

(6,155)

 

 

 

 

 

 

 

Other Data:

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

Construction

 

$

2,373

 

$

2,080

Service

 

 

636

 

 

557

Corporate

 

 

1,225

 

 

1,579

Total other data

 

$

4,234

 

$

4,216