ENGLOBAL ANNOUNCES $15 MILLION IN GOVERNMENT AWARDS
HOUSTON, TX, May 24, 2018 (GLOBE NEWSWIRE) -- ENGlobal Corp. (NASDAQ: ENG) announced today that its ENGlobal Government Services subsidiary (EGS) has received two modifications to existing contracts totaling approximately $15 million from the U.S. Department of Defense. The first modification will increase the Company's scope of work by approximately $3 million and the second modification for approximately $12 million will extend certain ongoing capital and maintenance projects for two years.
William A. Coskey, P.E., Chairman and CEO of ENGlobal stated: "This significant increase in scope of work from our government client is a result of the ongoing exceptional performance provided by the EGS team. We at ENGlobal greatly value our long history of providing the U.S. Military with fuel supply chain and IT related services."
For over 30 years, EGS has provided the federal government with design, installation, and maintenance of Automated Fueling Systems, Automated Tank Gauges (ATG), Supervisory Control and Data Acquisition (SCADA) development and integration, cyber security, and modular engineered solutions.
10 May 2018
ENG 1 Q Results
ENGlobal Reports First Quarter 2018 Results
HOUSTON, May 10, 2018 (GLOBE NEWSWIRE) -- ENGlobal a leading provider of engineering and automation services, today announced results for the first quarter ended March 31, 2018.
ENGlobal reported a net loss of $1.2 million for the first quarter of 2018 which was an increase in net loss of $0.3 million as compared to the prior year period. Net loss per diluted share was $0.04 for the first quarter just ended as compared to a net loss of $0.03 for the first quarter of 2017. ENGlobal reported an improved loss from operations, which was $1.2 million for the first quarter of 2018, a decrease of $0.5 million as compared to the $1.7 million operating loss for the prior year period.
Revenue increased $0.7 million to $13.2 million, or a 5.7% increase, from $12.5 million for the three months ended March 31, 2018, as compared to the three months ended April 1, 2017. Overall, SG&A expenses declined by $0.8 million for the three months ended March 31, 2018 as compared to the prior year period.
Management's Assessment
William A. Coskey, P.E., Chairman and CEO of ENGlobal stated: "I continue to believe that 2018 will prove to be an inflection year whereby our Company returns to profitability. There are several factors that appear to be coming together - the most important of which are recent project awards and the growing level of higher probability, targeted opportunities in our proposal pipeline. A good leading indicator is that we are now hiring for our operations again, after several years of downsizing staff. We also expect both our mechanical fabrication and automation integration operations to be very busy with new work during the second and third quarters of this year."
Mr. Coskey continued: "ENGlobal's formula for success is straightforward and achievable: 1) increasing our volume of work and utilization of resources in an improving industry environment, 2) incrementally improving margins given increased demand and higher value service mix, 3) excellence in project execution, and 4) achieving significant leverage on our reduced fixed overhead structure. Obviously, the recovery in our business and in our marketplace has taken much longer than anyone desires, including myself. I would like to thank our shareholders for their patience during this time, as we expect to be able to deliver improving results in future quarters."
Mark Hess, ENGlobal's Chief Financial Officer stated: "We continue to operate our Business with a clean capital structure. The Company continues to have no bank debt, and at quarter end had approximately $16 million of working capital which is expected to provide for our near-term operations and growth. We have previously recorded a $11.3 million valuation allowance against our deferred tax assets and therefore these assets are fully reserved and are no longer reflected as a net asset on the Balance Sheet. There was no dilution to ENGlobal common stockholders during the first quarter - as our shares outstanding remained constant at approximately 27.5 million during the quarter."
ENGlobal Corporation provides its engineering and professional expertise principally to the energy industry through two segments: Engineering, Procurement and Construction Management ("EPCM") which includes mechanical fabrication, and Automation engineering and integrated products ("Automation").
The extension of ENGlobal's service offerings into fabrication has positioned the Company as a vertically integrated service provider capable of engineering, project execution, mechanical fabrication, automation engineering and automation related systems integration. This positioning as a full-service provider provides a differentiating factor, which reduces clients' coordination of multiple vendors and improves control of their schedules. This strategy and positioning has also allowed the Company to pursue larger scopes of work centered around many different types of modularized engineered systems.
The Company has also started a multi-year strategic initiative to significantly strengthen its Automation capabilities in the areas of distributed control systems design and replacement, advanced data capture design, human machine interface design, machine learning, cyber security, and artificial intelligence. One result of these strategies is that ENGlobal's proposal pipeline continues to increase both for its EPCM and Automation services. Many of these proposals have not been awarded and have exceeded our expected award timing, which would imply that many customers will release awards when they are more comfortable that commodity prices have stabilized at a sufficient level.
The following is a summary of the income statement for the three months ended March 31, 2018 and April 1, 2017:
| (amounts in thousands) | Three months ended March 31, 2018 | Three Months ended April 1, 2017 | ||||||||
| Revenue | $ | 13,188 | $ | 12,473 | ||||||
| Gross Profit | 1,413 | 1,731 | ||||||||
| General & Administrative Expenses | 2,582 | 3,406 | ||||||||
| Operating Loss | (1,169 | ) | (1,675 | ) | ||||||
| Net Loss | (1,200 | ) | (878 | ) | ||||||
The following table presents certain balance sheet items as of March 31,
2018 and December 30,
2017:
| (amounts in thousands) | As of March 31, 2018 | As of December 30, 2017 | ||||||||
| Cash | $ | 6,767 | $ | 9,648 | ||||||
| Working capital | 15,888 | 16,846 | ||||||||
The
following table illustrates the composition of the Company's revenue
and profitability for its operations for the three months ended March
31,
2018 and April 1,
2017:
| (amounts in thousands) | Three months ended March 31, 2018 | Three Months ended April 1, 2017 | ||||||||||||||||||||||||||||||||
| % of | Gross | Operating | % of | Gross | Operating | |||||||||||||||||||||||||||||
| Total | Total | Profit | Profit | Total | Total | Profit | Profit | |||||||||||||||||||||||||||
| Segment | Revenue | Revenue | Margin | Margin | Revenue | Revenue | Margin | Margin | ||||||||||||||||||||||||||
| Engineering & Construction | $ | 5,095 | 38.6 | % | 8.2 | % | (0.2 | )% | $ | 5,629 | 45.1 | % | 8.8 | % | (1.3 | )% | ||||||||||||||||||
| Automation | 8,093 | 61.4 | % | 12.3 | % | 3.6 | % | 6,844 | 54.9 | % | 18.1 | % | 7.3 | % | ||||||||||||||||||||
| Consolidated | $ | 13,188 | 100.0 | % | 10.7 | % | (8.9 | )% | $ | 12,473 | 100.0 | % | 13.9 | % | (13.4 | )% | ||||||||||||||||||
The
Company's Quarterly Report on Form 10-Q for the quarterly period ended
March 31,
2018 is expected to be filed with the Securities and Exchange Commission
reflecting these results by the end of the day on Thursday,
May 10,
2018.
18 April 2018
ENGlobal Seeks to Increase Shareholder Value
ENGlobal Engages B. Riley FBR for Review of Strategic Alternatives to Increase Shareholder Value
Houston, TX, April 18, 2018 (GLOBE NEWSWIRE) -- ENGlobal Corporation, a leading provider of engineering and automation services, announced today that its Board of Directors has initiated a review of strategic alternatives. These alternatives could include strategic mergers, reverse mergers, the issuance or buyback of public shares, or the purchase or sale of specific assets, in addition to other potential actions aimed at increasing shareholder value.
For this purpose, the Company has engaged B. Riley FBR, Inc., a subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY) as its exclusive financial advisor to help identify, analyze, negotiate, and close any potential transaction or series of transactions.
"We are undertaking this important review of alternative strategies in order to increase value for our shareholders while continuing to enhance our extensive range of project execution services," said William A. Coskey, P.E., CEO and Chairman of ENGlobal. "The B. Riley FBR team has demonstrated their extensive knowledge of our industry and also showcased their deep understanding of the opportunities available to ENGlobal as a public platform. We're pleased to have chosen them as our partner for this process and are confident we will find a solution that achieves the Company's overall objectives."
The Company does not intend to disclose or comment on developments related to its review unless and until the Board has approved a specific transaction or otherwise determined that further disclosure is appropriate. There can be no assurance that the Board's strategic review will result in any transaction, or any assurance as to its outcome or timing.
03 April 2018
ENGlobal Announces Control Systems Certification
ENGLOBAL ANNOUNCES CONTROL SYSTEMS CERTIFICATION
HOUSTON, TX, April 03, 2018 (GLOBE NEWSWIRE) -- ENGlobal (NASDAQ: ENG) announced today that it has received Control Systems Integrator Certification from the Control Systems Integrators Association (CSIA) through its subsidiary, ENGlobal Government Services, Inc. (EGS), a leading service provider to the U.S. Department of Defense for engineering, automation and cyber security services. For over 30 years, EGS has provided the federal government with design, installation, and maintenance of Automated Fueling Systems, Automated Tank Gauges (ATG), Supervisory Control and Data Acquisition (SCADA) development and integration, cyber security, and modular engineered solutions. EGS has a long and respected history in the important mission of supporting the U.S. Military with fuel supply chain related services.
"CSIA Certification is the gold-seal mark of a professionally managed control system integration business," says José Rivera, CSIA CEO. "Certification reassures clients that ENGlobal Government Services, Inc. is an established professional services firm that wants to develop a successful, long-term partnership with clients."
"ENGlobal, through its government services division, is pleased to join the ranks of those few select companies that have attained CSIA certification. This certification assures our clients that they are receiving the best of breed and strict adherence to industry best practices and procedures." said John L. Kratzert, Senior Vice President of Automation. "We look forward to leveraging the experience and knowledge gained through this rigorous certification process to provide globally recognized services to our clients."
The CSIA is a global non-profit professional association that seeks to advance the industry of control system integration for the success of members and their clients. For more information, visit www.controlsys.org.
16 March 2018
ENGlobal 4Q & FY 2017
ENGlobal Reports Fourth Quarter and Fiscal Year 2017 Results
HOUSTON, March 15, 2018 (GLOBE NEWSWIRE) -- ENGlobal (Nasdaq:ENG), a leading provider of engineering and automation services, today announced a net loss of $16.3 million and a diluted loss per share of $0.59 for the fiscal year ended December 30, 2017. The Company incurred income tax expense of $10.1 million during 2017 primarily due to the effect of the income tax rate change and a valuation allowance recorded against the Company's deferred tax assets. The Company incurred non-cash expenses for depreciation, amortization and stock compensation of $1.6 million during 2017.
Management's Assessment
William Coskey, P.E., Chairman and Chief Executive Officer of ENGlobal said: "I am encouraged that ENGlobal's sales pipeline of near term, higher probability opportunities have recently been growing at a rapid pace. Overall, our 2018 sales pipeline is now over three times larger than at this time two years ago, reinforcing the Company's proactive efforts to increase the utilization of its capabilities and resources. It's also important to note that our 2018 target list of opportunities currently exhibits over 90% of these potential projects being within the Automation segment."
Mr. Coskey continued: "We have faced a certain sluggishness in the markets we serve with respect to our customers awarding work, and thus it has taken longer to turn our impressive list of opportunities into booked backlog. However, recent activity and customer communications indicates that our business is approaching an inflection point this year."
Mr. Coskey continued: "I could not be prouder of the men and women of ENGlobal, who are working tirelessly to rebuild our Company in a better way. Building our backlog with higher expected margins, executing on a larger volume of business, and leveraging our lower fixed overhead structure together are expected to provide for profitable results."
Mark Hess, ENGlobal's Chief Financial Officer, said: "The Company has successfully reduced its run rate fixed overhead to under $12 million per year, significantly lower than in the recent past. However, our reduced volume of business does not currently produce sufficient project margin for profitable results. Working capital at December 30, 2017 was approximately $16.8 million, which, along with internally generated funds, is expected to be sufficient for our anticipated 2018 growth. We believe that increased value for our shareholders can be realized this year by executing our internal growth plan, together with potential external strategies being developed."
2017 Fiscal Year results as compared to 2016 Fiscal Year results:
Revenue decreased to $55.8 million for the fiscal year ended December 30, 2017, or a 5.8% decrease, from $59.2 million for the fiscal year ended December 31, 2016. ENGlobal reported a net loss of $16.3 million, or $0.59 per diluted share, for the fiscal year ended December 30, 2017, compared to net loss of $2.3 million, or $0.08 per diluted share, for the prior year period. The Company incurred income tax expense of $10.1 million during 2017 primarily due to the effect of the income tax rate change and a valuation allowance recorded against the Company's deferred tax assets. The Company recorded an income tax benefit of $1.0 million during 2016. The Company incurred non-cash expenses for depreciation, amortization and stock compensation of $1.6 million during both 2017 and 2016.
In April 2015, the Company's Board of Directors authorized the repurchase of up to $2.0 million of the Company's common stock from time to time, based on prevailing market conditions. Through May 16, 2017, the date the program was suspended, ENGlobal had repurchased and retired 1,191,050 shares of common stock at a total cost of $1,498,409.
The following table illustrates the composition of the Company's revenue and profitability for its operations for the fiscal years ended December 30, 2017 and December 31, 2016:
We have revised our segment reporting to reflect our current management approach and recast prior periods to conform to the current segment presentation. As a result of the change in reporting structure discussed above, effective January 1, 2017, the results of ENGlobal's Government Services group, which were previously included as part of our Engineering, Procurement and Construction Management ("EPCM"), are now reported within the Automation segment.
| Year Ended | Year Ended | ||||||||||||||||
| (amounts in thousands) | December 30, 2017 | December 31, 2016 | |||||||||||||||
| Segment | Total Revenue | % of Total Revenue | Gross Profit Margin | Operating Profit Margin | Total Revenue | % of Total Revenue | Gross Profit Margin | Operating Profit Margin | |||||||||
| Engineering & Construction | $ 22,595 | 40.5% | 4.9% | (7.9 )% | $ 24,006 | 40.5% | 10.4% | 0.2% | |||||||||
| Automation | 33,170 | 59.5% | 16.1% | 6.52 % | 35,218 | 59.5% | 21.6% | 11.3% | |||||||||
| Consolidated | $ 55,765 | 100.0% | 11.5% | (11.02)% | $ 59,224 | 100.0% | 17.1% | (5.5)% | |||||||||
The
following table illustrates the composition of the Company's revenue
and profitability for its operations for the three months ended December
30,
2017 and December 31,
2016:
| Three Months Ended | Three Months Ended | ||||||||||||||||
| (amounts in thousands) | December 30, 2017 | December 31, 2016 | |||||||||||||||
| Segment | Total Revenue | % of Total Revenue | Gross Profit Margin | Operating Profit Margin | Total Revenue | % of Total Revenue | Gross Profit Margin | Operating Profit Margin | |||||||||
| Engineering & Construction | $ 5,619 | 38.9% | (11.3)% | (28.5 )% | $ 5,890 | 40.3% | 12.4% | 1.6% | |||||||||
| Automation | 8,811 | 61.1% | 13.7% | 5.1 % | 8,712 | 59.7% | 22.6% | 13.1% | |||||||||
| Consolidated | 14,430 | 100.0% | 4.0% | (17.4)% | 14,602 | 100.0% | 18.5% | (3.0)% | |||||||||
The
following is a summary of the Company's statement of operations for the
last four quarters which may be helpful in analyzing our ongoing
business:
| (amounts in thousands) | 2017 | Fiscal Year | ||||||||||||||||||
| Q1 | Q2 | Q3 | Q4 | 2017 | ||||||||||||||||
| Revenue | $ 12,473 | $ 15,966 | $ 12,896 | $ 14,430 | $ 55,765 | |||||||||||||||
| Gross Profit | 1,731 | 2,513 | 1,621 | 573 | 6,438 | |||||||||||||||
| Gross Profit Margin | 13.9% | 15.7% | 12.6% | 4.0% | 11.5% | |||||||||||||||
| General & Administrative Expenses | 3,406 | 3,057 | 3,041 | 3,077 | 12,581 | |||||||||||||||
| Operating Loss | (1,675 | ) | (544 | ) | (1,420 | ) | (2,504 | ) | (6,143 | ) | ||||||||||
| Net Loss | (878 | ) | (895 | ) | (12,154 | ) | (2,331 | ) | (16,258 | ) | ||||||||||
The following table presents certain balance sheet items as of December 30,
2017 and December 31,
2016:
| (amounts in thousands) | As of December 30, 2017 | As of December 31, 2016 | ||
| Cash and restricted cash | $ 9,648 | $ 15,687 | ||
| Working capital | 16,847 | 22,200 | ||
03 November 2017
ENG 3Q 2017
ENGlobal Reports Third Quarter 2017 Results
HOUSTON, Nov. 03, 2017 (GLOBE NEWSWIRE) -- ENGlobal, a leading provider of engineering and automation services, today announced results for the third quarter ended September 30, 2017.
ENGlobal reported a net loss of $12.1 million for the third quarter of 2017 which was a $12.6 million decrease over net income of $0.5 million reported for the prior year period. The third quarter 2017 results included the effects of a $11.3 million non-cash charge relating to a valuation allowance that was taken against the Company's deferred tax assets. Net loss per diluted share was ($0.44) versus net income per diluted share of $0.02 for the third quarter just ended and for the third quarter of 2016, respectively.
During the second quarter of 2017, management worked closely with a strategy consultant to perform an assessment of the Company and both short term and long term market trends, which in turn assisted management in updating its long term business growth strategy. This assessment was completed in the quarter just ended and concluded that ENGlobal's market segments that are expected to experience the highest future growth rates are those relating to Industrial Controls and Automation and the Industrial Internet of Things (IIOT).
These are both areas in which the Company has extensive experience providing higher value products and services to its clients but have not been the Company's primary focus in recent years. As a result of this strategic assessment, management has developed a multi-year plan to invest and position the Company as a leading provider of higher value industrial automation and IIOT services to its extensive customer base - an area that has historically produced higher project margins for ENGlobal.
Additionally, through previous organic initiatives, ENGlobal is now a vertically integrated service provider with expertise in project related engineering, mechanical fabrication, systems integration and automation. This positioning has allowed the Company to differentiate itself from most of its competitors as a full service provider - delivering benefits by reducing its clients' need to coordinate multiple vendors. In addition, ENGlobal is now able to pursue larger scopes of work focused on a wide range of modularized engineered systems. Management believes that because of the vertical integration strategy, an increasing amount of engineering, mechanical fabrication and systems integration services necessary to support the Company's strategic growth plan will be awarded to the Company.
Management's Assessment
William A. Coskey, P.E., Chairman and CEO of ENGlobal stated: "Our management has been very busy - taking actions during the quarter to begin the implementation of ENGlobal's strategy. These first steps included the reorganization and refocusing of our business development personnel, the development of relevant marketing materials and the successful adoption of a new customer relationship management system. In addition, during the quarter we completed the reorganization of our operations staff resulting in a senior VP responsible for the staffing, training, development and project execution of our automation business and a senior VP with the same responsibilities for our multidiscipline engineering and EPC projects business."
Mark A. Hess, ENGlobal's Chief Financial Officer stated: "During the quarter, we continued to work through many projects that were awarded at the end of last year and early this year at relatively lower margins. Combined with our low productivity levels following hurricane Harvey, this produced lower than expected revenue and gross margin for the quarter. While our selling, general and administrative costs continue to be rationalized and reduced, the reduction was not enough to offset the reduced gross margin. In addition, during the quarter, pursuant to standard accounting rules, we established a valuation allowance against our deferred tax assets of $11.3 million."
Mr. Hess continued: "While work as a result of our strategy assessment is in its beginning phases, we have seen encouraging early indicators that this approach is aligned with our customers' strategic focus and will be well received by our clients. As one example, we have been developing our automation pipeline over the last few quarters resulting in a 20% increase of our automation backlog during the quarter just ended. Proposal activity has been healthy and we are currently awaiting client decisions on a number of significant opportunities."
The following is a summary of the income statement for the three months ended September 30, 2017 and September 24, 2016:
HOUSTON, Nov. 03, 2017 (GLOBE NEWSWIRE) -- ENGlobal, a leading provider of engineering and automation services, today announced results for the third quarter ended September 30, 2017.
ENGlobal reported a net loss of $12.1 million for the third quarter of 2017 which was a $12.6 million decrease over net income of $0.5 million reported for the prior year period. The third quarter 2017 results included the effects of a $11.3 million non-cash charge relating to a valuation allowance that was taken against the Company's deferred tax assets. Net loss per diluted share was ($0.44) versus net income per diluted share of $0.02 for the third quarter just ended and for the third quarter of 2016, respectively.
During the second quarter of 2017, management worked closely with a strategy consultant to perform an assessment of the Company and both short term and long term market trends, which in turn assisted management in updating its long term business growth strategy. This assessment was completed in the quarter just ended and concluded that ENGlobal's market segments that are expected to experience the highest future growth rates are those relating to Industrial Controls and Automation and the Industrial Internet of Things (IIOT).
These are both areas in which the Company has extensive experience providing higher value products and services to its clients but have not been the Company's primary focus in recent years. As a result of this strategic assessment, management has developed a multi-year plan to invest and position the Company as a leading provider of higher value industrial automation and IIOT services to its extensive customer base - an area that has historically produced higher project margins for ENGlobal.
Additionally, through previous organic initiatives, ENGlobal is now a vertically integrated service provider with expertise in project related engineering, mechanical fabrication, systems integration and automation. This positioning has allowed the Company to differentiate itself from most of its competitors as a full service provider - delivering benefits by reducing its clients' need to coordinate multiple vendors. In addition, ENGlobal is now able to pursue larger scopes of work focused on a wide range of modularized engineered systems. Management believes that because of the vertical integration strategy, an increasing amount of engineering, mechanical fabrication and systems integration services necessary to support the Company's strategic growth plan will be awarded to the Company.
Management's Assessment
William A. Coskey, P.E., Chairman and CEO of ENGlobal stated: "Our management has been very busy - taking actions during the quarter to begin the implementation of ENGlobal's strategy. These first steps included the reorganization and refocusing of our business development personnel, the development of relevant marketing materials and the successful adoption of a new customer relationship management system. In addition, during the quarter we completed the reorganization of our operations staff resulting in a senior VP responsible for the staffing, training, development and project execution of our automation business and a senior VP with the same responsibilities for our multidiscipline engineering and EPC projects business."
Mark A. Hess, ENGlobal's Chief Financial Officer stated: "During the quarter, we continued to work through many projects that were awarded at the end of last year and early this year at relatively lower margins. Combined with our low productivity levels following hurricane Harvey, this produced lower than expected revenue and gross margin for the quarter. While our selling, general and administrative costs continue to be rationalized and reduced, the reduction was not enough to offset the reduced gross margin. In addition, during the quarter, pursuant to standard accounting rules, we established a valuation allowance against our deferred tax assets of $11.3 million."
Mr. Hess continued: "While work as a result of our strategy assessment is in its beginning phases, we have seen encouraging early indicators that this approach is aligned with our customers' strategic focus and will be well received by our clients. As one example, we have been developing our automation pipeline over the last few quarters resulting in a 20% increase of our automation backlog during the quarter just ended. Proposal activity has been healthy and we are currently awaiting client decisions on a number of significant opportunities."
The following is a summary of the income statement for the three months ended September 30, 2017 and September 24, 2016:
| (amounts in thousands) | Three months ended September 30, 2017 | Three Months ended September 24, 2016 | ||||
| Revenue | $ | 12,896 | $ | 15,968 | ||
| Gross Profit | 1,621 | 3,881 | ||||
| General & Administrative Expenses | 3,041 | 3,511 | ||||
| Operating Income (Loss) | (1,420) | 370 | ||||
| Net Income (Loss) | (12,154) | 489 | ||||
The following table presents certain balance sheet items as of September 30, 2017 and December 31, 2016:
| (amounts in thousands) | As of September 30, 2017 | As of December 31, 2016 | ||
| Cash | $ | 10,898 | $ | 15,687 |
| Working capital | 19,163 | 22,200 | ||
The following table illustrates the composition of the Company's revenue and profitability for its operations for the three and nine months ended September 30, 2017 and September 24, 2016:
| (amounts in thousands) | Three months ended September 30, 2017 | Three Months ended September 24, 2016 | ||||||||||||||||||||
| % of | Gross | Operating | % of | Gross | Operating | |||||||||||||||||
| Total | Total | Profit | Profit | Total | Total | Profit | Profit | |||||||||||||||
| Segment | Revenue | Revenue | Margin | Margin | Revenue | Revenue | Margin | Margin | ||||||||||||||
| Engineering & Construction | $ | 8,573 | 66.5% | 10.5% | 0.3% | $ | 8,216 | 51.5% | 17.7% | 6.6% | ||||||||||||
| Automation | 4,323 | 33.5% | 16.7% | 4.4% | 7,752 | 48.5% | 31.3% | 22.5% | ||||||||||||||
| Consolidated | $ | 12,896 | 100.0% | 12.6% | (11.0)% | $ | 15,968 | 100.0% | 24.3% | 2.3% | ||||||||||||
| (amounts in thousands) | Nine months ended September 30, 2017 | Nine Months ended September 24, 2016 | ||||||||||||||||||||
| % of | Gross | Operating | % of | Gross | Operating | |||||||||||||||||
| Total | Total | Profit | Profit | Total | Total | Profit | Profit | |||||||||||||||
| Segment | Revenue | Revenue | Margin | Margin | Revenue | Revenue | Margin | Margin | ||||||||||||||
| Engineering & Construction | $ | 26,833 | 64.9% | 13.5% | 3.5% | $ | 25,000 | 56.0% | 11.5% | 1.8% | ||||||||||||
| Automation | 14,503 | 35.1% | 15.5% | 4.0% | 19,622 | 44.0% | 23.1% | 11.9% | ||||||||||||||
| Consolidated | $ | 41,336 | 100.0% | 14.2% | (8.8)% | $ | 44,622 | 100.0% | 16.6% | (6.3)% | ||||||||||||
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