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Income Statement

Income Statement

v3.20.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Revenue $ 163,856,000 $ 148,119,000 $ 437,813,000 $ 414,469,000
Cost of revenue 139,685,000 129,746,000 375,083,000 358,778,000
Gross profit 24,171,000 18,373,000 62,730,000 55,691,000
Operating expenses:        
Selling, general and administrative expenses 17,045,000 16,568,000 47,596,000 49,691,000
Amortization of intangibles 109,000 149,000 526,000 499,000
Total operating expenses 17,154,000 16,717,000 48,122,000 50,190,000
Operating income 7,017,000 1,656,000 14,608,000 5,501,000
Other income (expenses):        
Interest expense, net (2,154,000) (1,759,000) (6,449,000) (4,190,000)
Gain on disposition of property and equipment 3,000 17,000 18,000 38,000
Loss on debt extinguishment 0 0 0 (513,000)
Gain on change in fair value of warrant liability (1,371,000) 525,000 (1,312,000) 422,000
Impairment of goodwill 0 (4,359,000) 0 (4,359,000)
Total other expenses (3,522,000) (5,576,000) (7,743,000) (8,602,000)
Income (loss) before income taxes 3,495,000 (3,920,000) 6,865,000 (3,101,000)
Income tax provision (benefit) 970,000 (942,000) 1,445,000 (681,000)
Net income (loss) $ 2,525,000 $ (2,978,000) $ 5,420,000 $ (2,420,000)
Income (loss) per common share:        
Basic (in usd per share) $ 0.32 $ (0.39) $ 0.69 $ (0.32)
Diluted (in usd per share) $ 0.31 $ (0.39) $ 0.68 $ (0.32)
Weighted average number of shares outstanding:        
Basic (in shares) 7,890,074 7,673,517 7,844,587 7,653,372
Diluted (in shares) 8,107,149 7,673,517 7,969,857 7,653,372

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