JOB @.60 Talk about a dead market. Stellar earnings report. No one interested.
2022 Second Quarter and YTD Highlights
Revenue for the three and six-month periods ended March 31, 2022, were $39.6 million and $82.5 million, up 14% and 19%, respectively, over the comparable fiscal 2021 periods.
Gross profit and gross margin were $14.5 million, or 36.6%, and $30.1 million, or 36.5%, for the three and six-month periods ended March 31, 2022, respectively, both up substantially from the comparable fiscal 2021 periods.
Net income for the three and six-month periods ended March 31, 2022, was $1.1 million, or $0.01 per diluted share, and $17.8 million, or $0.15 per diluted share, respectively, up substantially from the net losses reported for the comparable fiscal 2021 periods.
Adjusted net income (a non-GAAP financial measure) for the three and six-month periods ended March 31, 2022, was $2.2 million, or $0.02 per diluted share, and $4.9 million, or $0.04 per diluted share, respectively, excluding the effects of non-recurring, non-cash and/or other gain and loss items.
Adjusted EBITDA (a non-GAAP financial measure) for the three and six-month periods ended March 31, 2022, was $3.4 million and $7.3 million, up 69% and 31%, respectively, over the comparable fiscal 2021 periods.
Free cash flow (a non-GAAP financial measure) for the second quarter and YTD of fiscal year 2022 were $2.0 million and $4.2 million, respectively, up significantly compared with the comparable fiscal 2021 periods..
Cash of $14.2 million, borrowing availability on bank ABL of $14.1 million, net working capital of $22.9 million and current ratio of 2.7 as of March 31, 2022.
Shareholders' equity of $98.8 million, net book value per share of $0.87 and net tangible book value per share of $0.22 as of March 31, 2022.
During the six-month period ended March 31, 2022, the Company received notification from the SBA that the balance of its remaining PPP loans and accrued interest thereon, $16.8 million, was forgiven.
