Quarterly Information

12 Months Ended

Sep. 30, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly Information

Quarterly Information

The table below sets forth the unaudited consolidated operating results by fiscal quarter for the years ended September 30, 2022 and 2021 (in thousands, except per share data):

	2022 Quarters
	First(1)		Second		Third(2)		Fourth(3)		2022
Revenues	$	106,569	$	127,854	$	135,483	$	162,676	$	532,582
Gross profit	13,436		19,083		19,059		33,440		85,018
Net income (loss)	(2,846)		(1,217)		9,061		8,739		13,737
Earnings (loss) per share:
Basic	$	(0.24)	$	(0.10)	$	0.77	$	0.74	$	1.16
Diluted	$	(0.24)	$	(0.10)	$	0.76	$	0.73	$	1.15
(1) The results for the first quarter of Fiscal 2022 demonstrated normal seasonality and were negatively impacted by holidays and work schedules compared to other quarterly periods.
(2) The results for the third quarter of Fiscal 2022 were positively impacted by the release of a $5.9 million Canadian valuation allowance and a $2.0 million pre-tax gain on the sale of a non-core business within our Canadian operations.
(3) The results for the fourth quarter of Fiscal 2022 were positively impacted by a $2.5 million settlement of a claim for cost overruns from prior years related to a U.S. based municipal transit project.

	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 compared to other quarterly periods. Gross profit decreased during the first three quarters of Fiscal 2021 as compared to Fiscal 2020 due to a decrease in volume, 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.

The sum of the individual earnings per share amounts may not agree with year-to-date earnings per share as each period’s computation is based on the weighted-average number of shares outstanding during the period.