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Quarterly Financial Information (Tables)
 12 Months Ended
Jan. 02, 2015
Quarterly Financial Information [Abstract]  
Unaudited Supplemental Quarterly Financial Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended (1)

 

 

March 28,
2014

 

June 27,
2014

 

September 26,
2014

 

January 2,
2015

Total revenue

 

$
54,905 

 

$
61,052 

 

$
60,437 

 

$
60,343 

Operating income (loss) (2)(3)

 

$
(1,680)

 

$
5,026 

 

$
5,059 

 

$
4,181 

Income (loss) from continuing operations (2)(3)

 

$
(2,046)

 

$
3,475 

 

$
3,591 

 

$
4,691 

Income (loss) from discontinued operations (4)

 

$

 —

 

$

 —

 

$

 —

 

$

 —

Net income (loss) (2)(3)

 

$
(2,046)

 

$
3,475 

 

$
3,591 

 

$
4,691 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share from continuing operations

 

$
(0.07)

 

$
0.12 

 

$
0.13 

 

$
0.17 

Income (loss) per common share from discontinued operations(4)

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Net income (loss) per common share

 

$
(0.07)

 

$
0.12 

 

$
0.13 

 

$
0.17 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per common share from continuing operations

 

$
(0.07)

 

$
0.12 

 

$
0.12 

 

$
0.16 

Income (loss) per common share from discontinued operations(4)

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Net income (loss) per common share

 

$
(0.07)

 

$
0.12 

 

$
0.12 

 

$
0.16 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

March 29,
2013

 

June 28,
2013

 

September 27,
2013

 

December 27, 
2013

Total revenue

 

$
54,349 

 

$
58,961 

 

$
57,916 

 

$
52,604 

Operating income

 

$
3,529 

 

$
5,085 

 

$
4,717 

 

$
2,396 

Income from continuing operations

 

$
2,029 

 

$
2,930 

 

$
2,699 

 

$
1,206 

Income (loss) from discontinued operations

 

$
(71)

 

$

 —

 

$
(64)

 

$

 —

Net income (5)

 

$
1,958 

 

$
2,930 

 

$
2,635 

 

$
1,206 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Income per common share from continuing operations

 

$
0.06 

 

$
0.10 

 

$
0.09 

 

$
0.04 

Income (loss) per common share from discontinued operations

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Net income per common share

 

$
0.06 

 

$
0.10 

 

$
0.09 

 

$
0.04 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Income per common share from continuing operations

 

$
0.07 

 

$
0.09 

 

$
0.08 

 

$
0.04 

Income (loss) per common share from discontinued operations

 

 
(0.01)

 

 

 —

 

 

 —

 

 

 —

Net income per common share

 

$
0.06 

 

$
0.09 

 

$
0.08 

 

$
0.04 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

The fiscal 2014 quarters presented above, are as previously reported. See table below which restates the 2014 Statement of Operations by quarter for the impact of the Technolab EPM AMS acquisition-related purchase consideration reflected as compensation expense, as well as other acquisition-related adjustments recorded in the fourth quarter of 2014, as mentioned in Note 16.

(2)

The fiscal quarter ended March 28, 2014, includes restructuring costs of $3.6 million.

(3)

The fiscal quarter ended January 2, 2015, includes a bargain purchase gain from the acquisition of the Technolab EPM AMS of $3.0 million.

(4)

There were no discontinued operations in fiscal year 2014.

(5)

The quarter ended December 28, 2012 included the benefit of the release of $6.7 million of deferred income tax asset valuation allowance. Quarterly basic and diluted net income per common share were computed independently for each quarter and do not necessarily total to the year to date basic and diluted net income per common share.

 

 

The following table presents the restated 2014 Statement of Operations by quarter for the impact of the acquisition-related purchase consideration reflected as compensation expense, as well as other acquisition-related adjustments recorded in the fourth quarter of 2014 as discussed in Note 16 (in thousands, except per share amounts): 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended

 

 

 

March 28, 2014

 

 

June 27, 2014

 

 

September 27, 2014

 

 

January 2, 2015

 

 

(unaudited)

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Revenue before reimbursements

 

$
49,418 

 

$
55,000 

 

$
54,550 

 

$
54,551 

Reimbursements

 

 
5,487 

 

 
6,052 

 

 
5,887 

 

 
5,792 

Total revenue

 

 
54,905 

 

 
61,052 

 

 
60,437 

 

 
60,343 

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs and expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of service:

 

 

 

 

 

 

 

 

 

 

 

 

Personnel costs before reimbursable expenses (1)

 

 

 

 

 

 

 

 

 

 

 

 

(includes $686,  $999,  $842 and $1,029 of stock

 

 

 

 

 

 

 

 

 

 

 

 

compensation expense in Q1, Q2, Q3 and Q4 2014)

 

 
34,184 

 

 
35,427 

 

 
35,142 

 

 
34,205 

Reimbursable expenses

 

 
5,487 

 

 
6,052 

 

 
5,887 

 

 
5,792 

Total cost of service

 

 
39,671 

 

 
41,479 

 

 
41,029 

 

 
39,997 

Selling, general and administrative costs  (2)

 

 

 

 

 

 

 

 

 

 

 

 

(includes $653,  $691,  $814 and $656 of stock

 

 

 

 

 

 

 

 

 

 

 

 

compensation expense in Q1, Q2, Q3 and Q4 2014)

 

 
14,235 

 

 
15,607 

 

 
15,422 

 

 
16,122 

Bargain purchase gain from acquisition (1) (2)

 

 
(3,015)

 

 

 -

 

 

 -

 

 

 -

Restructuring costs

 

 
3,604 

 

 

 -

 

 

 -

 

 

 -

Total costs and operating expenses

 

 
54,495 

 

 
57,086 

 

 
56,451 

 

 
56,119 

Income from operations

 

 
410 

 

 
3,966 

 

 
3,986 

 

 
4,224 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 
1 

 

 
1 

 

 
2 

 

 
2 

Interest expense

 

 
(124)

 

 
(166)

 

 
(173)

 

 
(163)

Income from continuing operations before income taxes

 

 
287 

 

 
3,801 

 

 
3,815 

 

 
4,063 

Income tax (benefit) expense (3)

 

 
(118)

 

 
973 

 

 
879 

 

 
521 

Net income

 

$
405 

 

$
2,828 

 

$
2,936 

 

$
3,542 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per common share

 

$
0.01 

 

$
0.10 

 

$
0.10 

 

$
0.13 

Weighted average common shares outstanding

 

 
29,120 

 

 
28,939 

 

 
28,558 

 

 
28,257 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per common share

 

$
0.01 

 

$
0.10 

 

$
0.10 

 

$
0.12 

Diluted

 

 
29,869 

 

 
29,984 

 

 
29,800 

 

 
29,871 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) The cost of service adjustments reflect the re-charaterization of cash and equity which were previously accounted for as purchase consideration

     and are now reflected as compensation expense.  These adjustments contributed to a bargain purchase gain from the Technolab acquisition.

 

(2)  The selling, general and administrative costs reflect adjustmens related to the acquired intangible assets and amortization expense of those assets.

      These adjustments contributed to a bargain purchase from the Technolab acquisition.

 

 

 

 

 

 

 

 

 

 

 

 

 

(3)  The income tax expense (benefit) reflect adjustments related to the Technolab acquisition which were finalized and re-characterized in the fourth

      quarter of 2014.