Quarterly Information (Tables)

12 Months Ended

Sep. 30, 2021

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The table below sets forth the unaudited consolidated operating results by fiscal quarter for the years ended September 30, 2021 and 2020 (in thousands, except per share data):

	2021 Quarters
	First(1)		Second(1)		Third(1)		Fourth(2)		2021
Revenues	$	106,575	$	118,716	$	115,813	$	129,455	$	470,559
Gross profit	18,271		17,153		17,167		22,472		75,063
Net income (loss)	(364)		(225)		(2,041)		3,261		631
Earnings (loss) per share:
Basic	$	(0.03)	$	(0.02)	$	(0.17)	$	0.28	$	0.05
Diluted	$	(0.03)	$	(0.02)	$	(0.17)	$	0.28	$	0.05
(1) The results for the first quarter of Fiscal 2021 demonstrated normal seasonality and were negatively impacted by holidays and work schedules related to other quarterly periods. Gross profit continued to decrease during the first three quarters of Fiscal 2021 as compared to Fiscal 2020 quarterly gross profit due to a decrease in orders as well as project delays and cancellations of potential projects associated with the global economic impact resulting from the COVID-19 pandemic and associated reduction in demand across our industrial end markets.
(2) The results for the fourth quarter of Fiscal 2021 were positively impacted by higher volume and favorable productivity across the service and manufacturing entities.

	2020 Quarters
	First(1)		Second(1)		Third(1) (2)		Fourth(1) (3)		2020
Revenues	$	134,150	$	151,570	$	118,062	$	114,717	$	518,499
Gross profit	21,826		29,685		21,344		21,720		94,575
Net income	2,775		7,421		3,481		2,983		16,660
Earnings per share:
Basic	$	0.24	$	0.64	$	0.30	$	0.26	$	1.43
Diluted	$	0.24	$	0.64	$	0.30	$	0.25	$	1.42
(1) The results for the first quarter of Fiscal 2020 demonstrated normal seasonality and were negatively impacted by holidays and work schedules related to other quarterly periods. The results for the second quarter of Fiscal 2020 improved due to the timing of orders and execution of backlog while revenues and gross profit decreased during the third and fourth quarters of Fiscal 2020 due to a decrease in orders resulting from a decline in demand across our industrial end markets, as well as project delays, cancellations and scope reductions associated with the global decline in demand across the oil and gas markets resulting from COVID-19.
(2) The results for the third quarter of Fiscal 2020 were negatively impacted by separation costs of $1.4 million as a result of workforce reductions.
(3) The results for the fourth quarter of Fiscal 2020 were positively impacted by other income of $0.5 million related to a death benefit received from our company-owned life insurance policy related to a retired employee.