Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jan. 01, 2022 | Apr. 01, 2022 | Jul. 02, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000700841 | ||
Entity Registrant Name | RCM TECHNOLOGIES, INC. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --01-01 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 1, 2022 | ||
Document Transition Report | false | ||
Entity File Number | 1-10245 | ||
Entity Incorporation, State or Country Code | NV | ||
Entity Tax Identification Number | 95-1480559 | ||
Entity Address, Address Line One | 2500 McClellan Avenue, Suite 350 | ||
Entity Address, City or Town | Pennsauken | ||
Entity Address, State or Province | NJ | ||
Entity Address, Postal Zip Code | 08109-4613 | ||
City Area Code | 856 | ||
Local Phone Number | 356-4500 | ||
Title of 12(b) Security | Common Stock, par value $0.05 per share | ||
Trading Symbol | RCMT | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 28,900,000 | ||
Entity Common Stock, Shares Outstanding | 10,096,588 | ||
Auditor Name | Macias, Gini & O’Connell LLP | ||
Auditor Location | San Diego, California | ||
Auditor Firm ID | 324 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 01, 2022 | Jan. 02, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 235 | $ 734 |
Accounts receivable, net | 48,240 | 36,007 |
Transit accounts receivable | 1,010 | 2,494 |
Prepaid expenses and other current assets | 2,486 | 4,699 |
Total current assets | 51,971 | 43,934 |
Property and equipment, net | 1,939 | 2,078 |
Other assets: | ||
Deposits | 176 | 169 |
Deferred tax assets, net, domestic | 535 | 3,300 |
Goodwill | 16,354 | 16,354 |
Operating right of use asset | 1,877 | 2,409 |
Intangible assets, net | 0 | 95 |
Total other assets | 18,942 | 22,327 |
Total assets | 72,852 | 68,339 |
Current liabilities: | ||
Accounts payable and accrued expenses | 9,306 | 7,497 |
Transit accounts payable | 2,064 | 4,900 |
Accrued payroll and related costs | 13,027 | 12,877 |
Finance lease payable | 437 | 247 |
Income taxes payable | 0 | 436 |
Operating right of use liability | 1,502 | 1,886 |
Liability for contingent consideration from acquisitions | 103 | 500 |
Deferred revenue | 3,418 | 398 |
Total current liabilities | 29,857 | 28,741 |
Finance lease payable | 502 | 106 |
Liability for contingent consideration from acquisitions | 600 | 2,358 |
Operating right of use liability, net of current position | 1,631 | 2,641 |
Borrowings under line of credit | 14,151 | 11,890 |
Total liabilities | 46,883 | 46,101 |
Commitments and contingencies (note 16) | ||
Stockholders’ equity: | ||
Preferred stock, $1.00 par value; 5,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock, $0.05 par value; 40,000,000 shares authorized;16,903,157 shares issued and 10,290,935 shares outstanding at January 1, 2022 and 16,224,191 shares issued and 11,542,880 shares outstanding at January 2, 2021 | 845 | 811 |
Stock subscription receivable | 0 | (420) |
Additional paid-in capital | 111,068 | 109,588 |
Accumulated other comprehensive loss | (2,699) | (2,550) |
Accumulated deficit | (56,985) | (67,974) |
Treasury stock (6,612,222 shares at January 1, 2022 and 4,681,311 at January 2, 2021) at cost | (26,260) | (17,217) |
Stockholders’ equity | 25,969 | 22,238 |
Total liabilities and stockholders’ equity | 72,852 | 68,339 |
Foreign Tax Authority [Member] | ||
Current liabilities: | ||
Deferred tax liability | $ 142 | $ 365 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jan. 01, 2022 | Jan. 02, 2021 |
Preferred stock par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.05 | $ 0.05 |
Common stock, authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, issued (in shares) | 16,903,157 | 16,224,191 |
Common stock, outstanding (in shares) | 10,290,935 | 11,542,880 |
Treasury stock, shares (in shares) | 6,612,222 | 4,681,311 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Revenues | $ 203,875 | $ 150,409 |
Cost of services | 150,751 | 111,554 |
Gross profit | 53,124 | 38,855 |
Operating costs and expenses | ||
Selling, general and administrative | 42,019 | 37,791 |
Depreciation and amortization of property and equipment | 1,007 | 1,065 |
Amortization of acquired intangible assets | 95 | 321 |
Write-off of receivables and professional fees incurred related to arbitration | 0 | 8,397 |
Impairment of right of use assets and related costs | 0 | 2,231 |
Gain on sale of assets | (2,420) | 0 |
Remeasurement of acquisition-related contingent consideration | (1,713) | 0 |
Operating costs and expenses | 38,988 | 49,805 |
Operating income (loss) | 14,136 | (10,950) |
Other expense (income) | ||
Interest expense and other, net | 365 | 778 |
Change in fair value of contingent consideration | 52 | 145 |
Loss (gain) on foreign currency transactions | (195) | 184 |
Other expense, net | 222 | 1,107 |
Income (loss) before income taxes | 13,914 | (12,057) |
Income tax expense (benefit) | 2,925 | (3,188) |
Net income (loss) | $ 10,989 | $ (8,869) |
Basic net earnings (loss) per share (in dollars per share) | $ 1 | $ (0.73) |
Diluted net earnings (loss) per share (in dollars per share) | $ 0.95 | $ (0.73) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Net income (loss) | $ 10,989 | $ (8,869) |
Other comprehensive (loss) income | (149) | 198 |
Total comprehensive income (loss) | $ 10,840 | $ (8,671) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Stock Subscriptions Receivable [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Total |
Balance (in shares) at Dec. 28, 2019 | 15,826,891 | 2,823,172 | |||||
Balance at Dec. 28, 2019 | $ 791 | $ 0 | $ 108,452 | $ (2,748) | $ (59,105) | $ (14,987) | $ 32,403 |
Issuance of stock under employee stock purchase plan (in shares) | 117,983 | 0 | |||||
Issuance of stock under employee stock purchase plan | $ 6 | 0 | 202 | 0 | 0 | $ 0 | 208 |
Stock subscription receivable (in shares) | 0 | 0 | |||||
Stock subscription receivable | $ 0 | (420) | 420 | 0 | 0 | $ 0 | 0 |
Foreign currency translation adjustment | 0 | 0 | 0 | 198 | 0 | 0 | 198 |
Share-based compensation expense | $ 0 | 0 | 528 | 0 | 0 | $ 0 | 528 |
Issuance of stock upon vesting of restricted share awards (in shares) | 279,317 | 0 | |||||
Issuance of stock upon vesting of restricted share awards | $ 14 | 0 | (14) | 0 | 0 | $ 0 | 0 |
Purchase of treasury stock (in shares) | 0 | 1,858,139 | |||||
Purchase of treasury stock | $ 0 | 0 | 0 | 0 | 0 | $ (2,230) | (2,230) |
Net income (loss) | $ 0 | 0 | 0 | 0 | (8,869) | $ 0 | (8,869) |
Balance (in shares) at Jan. 02, 2021 | 16,224,191 | 4,681,311 | |||||
Balance at Jan. 02, 2021 | $ 811 | (420) | 109,588 | (2,550) | (67,974) | $ (17,217) | 22,238 |
Issuance of stock under employee stock purchase plan (in shares) | 101,784 | 0 | |||||
Issuance of stock under employee stock purchase plan | $ 5 | 0 | 131 | 0 | 0 | $ 0 | 136 |
Stock subscription receivable (in shares) | 250,000 | 0 | |||||
Stock subscription receivable | $ 13 | 420 | (13) | 0 | 0 | $ 0 | 420 |
Foreign currency translation adjustment | 0 | 0 | 0 | (149) | 0 | 0 | (149) |
Share-based compensation expense | $ 0 | 0 | 1,358 | 0 | 0 | $ 0 | 1,358 |
Issuance of stock upon vesting of restricted share awards (in shares) | 327,182 | 0 | |||||
Issuance of stock upon vesting of restricted share awards | $ 16 | 0 | (16) | 0 | 0 | $ 0 | $ 0 |
Purchase of treasury stock (in shares) | 0 | 1,930,911 | 1,930,911 | ||||
Purchase of treasury stock | $ 0 | 0 | 0 | 0 | 0 | $ (9,043) | $ (9,043) |
Net income (loss) | 0 | 0 | 0 | 0 | 10,989 | 0 | 10,989 |
Effect of excess tax deduction over book expense associated with exercise of equity awards | $ 0 | 0 | 20 | 0 | 0 | $ 0 | 20 |
Balance (in shares) at Jan. 01, 2022 | 16,903,157 | 6,612,222 | |||||
Balance at Jan. 01, 2022 | $ 845 | $ 0 | $ 111,068 | $ (2,699) | $ (56,985) | $ (26,260) | $ 25,969 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 10,989 | $ (8,869) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 1,102 | 1,386 |
Gain on sale of assets | (2,420) | 0 |
Remeasurement of acquisition-related contingent consideration | (1,713) | 0 |
Impairment of right of use assets and related costs | 0 | 2,231 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 52 | 145 |
Share-based compensation expense | 1,358 | 1,108 |
Effect of excess tax deduction on equity awards | 20 | 0 |
Provision for losses on accounts receivable | (208) | 7,911 |
Deferred income tax expense (benefit) | 2,542 | (3,712) |
Amortization of right of use assets | 1,057 | 1,490 |
Changes in assets and liabilities: | ||
Accounts receivable | (14,710) | 15,947 |
Net of transit accounts receivable and payable | (1,317) | 2,757 |
Prepaid expenses and other current assets | 1,838 | (162) |
Accounts payable and accrued expenses | 1,518 | 1,587 |
Accrued payroll and related costs | 149 | 4,557 |
Right of use liabilities | (1,919) | (1,529) |
Income taxes payable | 436 | (304) |
Deferred revenue | 3,020 | 52 |
Deposits | (7) | 41 |
Total adjustments | 10,074 | (34,113) |
Net cash provided by operating activities | 915 | 25,244 |
Cash flows from investing activities: | ||
Property and equipment acquired | (568) | (460) |
Proceeds from sale of assets | 6,859 | 0 |
Net cash provided by (used in) investing activities | 6,291 | (460) |
Cash flows from financing activities: | ||
Borrowings under line of credit | 110,481 | 73,238 |
Repayments under line of credit | (108,220) | (96,109) |
Issuance of stock for employee stock purchase plan | 137 | 208 |
Changes in finance lease obligations | (415) | (394) |
Contingent consideration paid | (494) | (345) |
Common stock repurchase | (9,043) | (2,230) |
Net cash used in financing activities | (7,554) | (25,632) |
Effect of exchange rate changes on cash and cash equivalents | (151) | (265) |
Decrease in cash and cash equivalents | (499) | (1,113) |
Cash and cash equivalents at beginning of period | 734 | 1,847 |
Cash and cash equivalents at end of period | 235 | 734 |
Supplemental cash flow information: | ||
Interest | 417 | 1,026 |
Income taxes | 1,010 | 264 |
Non-cash financing activities: | ||
Issuance of accrued share-based compensation | 580 | 492 |
ROU assets obtained in exchange for lease obligations | $ 1,832 | $ 258 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business and Basis of Presentation RCM Technologies, Inc. (the “Company” or “RCM”) is a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced engineering, life sciences and information technology services. Additionally, the Company provides specialty health care staffing services through its Specialty Health Care Services group. RCM’s offices are primarily located in major metropolitan centers throughout North America. The consolidated financial statements are comprised of the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Cash and Cash Equivalents The Company considers its holdings of highly liquid money-market instruments and certificates of deposits to be cash equivalents if the securities mature within 90 may January 1, 2022 January 2, 2021, January 1, 2022 January 2, 2021, Fair Value of Financial Instruments The Company’s carrying value of financial instruments, consisting primarily of accounts receivable, transit accounts receivable, accounts payable and accrued expenses, transit accounts payable and borrowings under line of credit approximates fair value due to their liquidity or their short-term nature and the line of credit’s variable interest rate. The Company does not Accounts Receivable and Allowance for Doubtful Accounts The Company’s accounts receivable are primarily due from trade customers. Credit is extended based on evaluation of customers’ financial condition and, generally, collateral is not Accrued and Unbilled Accounts Receivable and Work-in-Process Unbilled receivables primarily represent revenues earned whereby those services are ready to be billed as of the balance sheet ending date. Work-in-process primarily represents revenues earned under contracts which the Company is contractually precluded from invoicing until future dates as project milestones are realized. See Note 4 Transit Accounts Receivable and Transit Accounts Payable From time to time, the Company’s Engineering segment enters into agreements to provide, among other things, construction management and engineering services. Pursuant to these agreements, the Company a) may no 606 Under the terms of the agreements, the Company is typically not not not Property and Equipment Property and equipment are stated at cost and are depreciated on the straight-line method at rates calculated to provide for retirement of assets at the end of their estimated useful lives. The annual rates are 20% for computer hardware and software as well as furniture and office equipment. Leasehold improvements are amortized over the shorter of the estimated life of the asset or the lease term. Intangible Assets The Company’s intangible assets have been generated through acquisitions. The Company maintains responsibility for valuing and determining the useful life of intangible assets. As a general rule, the Company amortizes restricted covenants over four six may third Canadian Sales Tax The Company is required to charge and collect sales tax for all Canadian clients and remits invoiced sales tax monthly to the Canadian taxing authorities whether collected or not. not Goodwill Goodwill is not 350 Intangibles - Goodwill and Other. December may three 2017 04, 350 January 2, 2021 2 0 no The Company did not January 1, 2022 January 2, 2021. no not Long-Lived and Intangible Assets The Company evaluates long-lived assets and intangible assets with definite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not Software In accordance with FASB ASC 350 40 January 1, 2022 January 2, 2021, January 1, 2022 January 2, 2021 Income Taxes The Company makes judgments and interpretations based on enacted tax laws, published tax guidance, as well as estimates of future earnings. These judgments and interpretations affect the provision for income taxes, deferred tax assets and liabilities and the valuation allowance. The Company evaluated the deferred tax assets and determined on the basis of objective factors that the net assets will be realized through future years’ taxable income. In the event that actual results differ from these estimates and assessments, additional valuation allowances may not January 1, 2022 January 2, 2021. The Company accounts for income taxes in accordance with FASB ACS 740 740 740 The Company also follows the provisions of FASB ASC 740 Revenue Recognition The Company records revenue under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers We evaluate our revenue contracts with customers based on the five 606: 1 2 3 4 5 The Company derives its revenue from several sources. The Company’s Engineering Services and Life Sciences and Information Technology segments perform consulting and project solution services. The Healthcare segment specializes in long-term and short-term staffing and placement services to hospitals, schools and long-term care facilities amongst others. All of the Company’s segments perform staff augmentation services and derive revenue from permanent placement fees. The majority of the Company’s revenue is invoiced on a time and materials basis. The following table presents our revenues disaggregated by revenue source for the fifty-two January 1, 2022 fifty-three January 2, 2021: January 1, 2022 January 2, 2021 Engineering: Time and Material $ 45,035 $ 43,359 Fixed Fee 21,070 14,145 Permanent Placement Services 67 211 Total Engineering $ 66,172 $ 57,715 Specialty Health Care: Time and Material $ 97,363 $ 59,692 Permanent Placement Services 1,132 789 Total Specialty Health Care $ 98,495 $ 60,481 Life Sciences and Information Technology: Time and Material $ 38,571 $ 31,723 Permanent Placement Services 637 490 Total Life Sciences and Information Technology $ 39,208 $ 32,213 $ 203,875 $ 150,409 Time and Material The Company’s IT and Healthcare segments predominantly recognize revenue through time and material work while its Engineering segment recognizes revenue through both time and material and fixed fee work. The Company’s time and material contracts are typically based on the number of hours worked at contractually agreed upon rates, therefore revenue associated with these time and materials contracts are recognized based on hours worked at contracted rates. Fixed Fee From time to time and predominantly in our Engineering segment, the Company will enter into contracts requiring the completion of specific deliverables. The Company has master services agreements with many of its customers that broadly define terms and conditions. Actual services performed under fixed fee arrangements are typically delivered under purchase orders that more specifically define terms and conditions related to that fixed fee project. While these master services agreements can often span several years, the Company’s fixed fee purchase orders are typically performed over six nine not not Permanent Placement Services The Company earns permanent placement fees from providing permanent placement services. These fees are typically based on a percentage of the compensation paid to the person placed with the Company’s client. The Company guarantees its permanent placements on a prorated basis for 90 not 90 January 1, 2022 January 2, 2021. The deferred revenue balance as of January 1, 2022 January 2, 2021 may one fifty-two January 1, 2022 fifty-three January 2, 2021, Transit Receivables and Transit Payables From time to time, the Company’s Engineering segment enters into agreements to provide, among other things, construction management and engineering services. Pursuant to these agreements, the Company a) may no not not not January 1, 2022. January 2, 2021. Concentration During the fiscal year ended January 1, 2022, no 10% January 1, 2022, 10.0% 15.3% 14.2%. No 10% five ten twenty 65.1%, January 1, 2022. During the fiscal year ended January 2, 2021, No 10% January 2, 2021, 10.0% 10.6%. No 10% five 33.4%, 60.7%, January 2, 2021. Foreign Currency Translation The functional currency of the Company’s Canadian and Serbian subsidiaries is the local currency. Assets and liabilities are translated at period-end exchange rates. Income and expense items are translated at weighted average rates of exchange prevailing during the year. Any translation adjustments are included in the accumulated other comprehensive income account in stockholders’ equity. Transactions executed in different currencies resulting in exchange adjustments are translated at spot rates and resulting foreign exchange transaction gains and losses are included in the results of operations. Comprehensive Income Comprehensive income consists of net income and foreign currency translation adjustments. Per Share Data Basic net income per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated using the weighted-average number of common shares plus dilutive potential common shares outstanding during the period. Potential dilutive common shares consist of stock options and other stock-based awards under the Company’s stock compensation plans, when their impact is dilutive. Because of the Company’s capital structure, all reported earnings pertain to common shareholders and no Share - Based Compensation The Company recognizes share-based compensation over the vesting period of an award based on fair value at the grant date determined using the Black-Scholes option pricing model. Certain assumptions are used to determine the fair value of stock-based payment awards on the date of grant and require subjective judgment. Because employee stock options have characteristics significantly different from those of traded options, and because changes in the input assumptions can materially affect the fair value estimate, the existing models may not may may 11 Restricted share awards are recognized at their fair value. The amount of compensation cost is measured on the grant date fair value of the equity instrument issued. The compensation cost of the restricted share awards is recognized over the vesting period of the restricted share awards on a straight-line basis. Restricted share awards typically include dividend accrual equivalents, which means that any dividends paid by the Company during the vesting period become due and payable after the vesting period assuming the grantee’s restricted stock unit fully vests. Dividends for these grants are accrued on the dividend payment dates and included in accounts payable and accrued expenses on the accompanying consolidated balance sheet. Dividends for restricted share awards that ultimately do not Advertising Costs Advertising costs are expensed as incurred. Total advertising expense was $914 and $800 for the fiscal years ended January 1, 2022 January 2, 2021, Fair Value Measurements The Company values its financial assets and liabilities based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, a fair value hierarchy was established that prioritizes observable and unobservable inputs used to measure fair value into three Level 1: 1 Level 2: 1 Level 3: no 3 In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. Reclassification Certain prior year amounts have been reclassified to conform with the current year presentation. These classifications had no |
Note 2 - Fiscal Year
Note 2 - Fiscal Year | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 2. FISCAL YEAR The Company follows a 52/53 December 31. January 1, 2022 ( 2021 52 January 2, 2021 ( 2020 53 |
Note 3 - Use of Estimates and U
Note 3 - Use of Estimates and Uncertainties | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 3. USE OF ESTIMATES AND UNCERTAINTIES The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. The Company uses estimates to calculate an allowance for doubtful accounts on its accounts receivables, adequacy of reserves, goodwill impairment, if any, equity compensation, the tax rate applied and the valuation of certain assets and liability accounts. These estimates can be significant to the operating results and financial position of the Company. The estimates are based upon various factors including current and historical trends, as well as other pertinent industry and regulatory authority information, including the potential future effects of COVID- 19. The Company has risk participation arrangements with respect to workers compensation and health care insurance. The amounts included in the Company’s costs related to this risk participation are estimated and can vary based on changes in assumptions, the Company’s claims experience or the providers included in the associated insurance programs. The Company can be affected by a variety of factors including uncertainty relating to the performance of the general economy, competition, demand for the Company’s services, adverse litigation and claims and the hiring, training and retention of key employees. Fair Value of Financial Instruments The Company’s carrying value of financial instruments, consisting primarily of accounts receivable, transit accounts receivable, accounts payable and accrued expenses, transit accounts payable and borrowings under line of credit approximates fair value due to their liquidity or their short-term nature and the line of credit’s variable interest rate. The Company does not The Company re-measures the fair value of the contingent consideration at each reporting period and any change in the fair value from either the passage of time or events occurring after the acquisition date, is recorded in earnings in the accompanying consolidated statement of operations. |
Note 4 - Accounts Receivable, T
Note 4 - Accounts Receivable, Transit Accounts Receivable and Transit Accounts Payable | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. ACCOUNTS RECEIVABLE, TRANSIT ACCOUNTS RECEIVABLE AND TRANSIT ACCOUNTS PAYABLE The Company’s accounts receivable are comprised as follows: January 1, 2022 January 2, 2021 Billed $ 37,396 $ 25,926 Accrued and unbilled 10,231 8,219 Work-in-progress 1,810 3,612 Allowance for sales discounts and doubtful accounts (1,197 ) (1,750 ) Accounts receivable, net $ 48,240 $ 36,007 Unbilled receivables primarily represent revenue earned whereby those services are ready to be billed as of the balance sheet ending date. Work-in-progress primarily represents revenue earned under contracts which the Company contractually invoices at future dates. |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. PROPERTY AND EQUIPMENT Property and equipment are comprised of the following: January 1, 2022 January 2, 2021 Computers and systems $ 4,133 $ 4,686 Equipment and furniture 86 264 Leasehold improvements 159 236 4,378 5,185 Less: accumulated depreciation and amortization 2,439 3,107 Property and equipment, net $ 1,939 $ 2,078 The Company periodically writes off fully depreciated and amortized assets. The Company wrote off fully depreciated and amortized assets of $1,671 and $1,529 during the fiscal years ended January 1, 2022 January 2, 2021, not January 1, 2022 January 2, 2021, |
Note 6 - Acquisitions
Note 6 - Acquisitions | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 6. ACQUISITIONS The purchase method of accounting in accordance with FASB ASC 805, Future Contingent Payments As of January 1, 2022, two may 1 October 1, 2017, 2 September 30, 2018, January 1, 2022 Fiscal Year Ending Total December 31, 2022 $ 103 December 30, 2023 600 Estimated future contingent consideration payments $ 703 Estimates of future contingent payments are subject to significant judgment and actual payments may fourth 2021, 2018. two not first 19 2 3. second 2. January 1, 2022 $0.7 January 1, 2022. 3 For acquisitions that involve contingent consideration, the Company records a liability equal to the fair value of the estimated contingent consideration obligation as of the acquisition date. The Company determines the acquisition date fair value of the contingent consideration based on the likelihood of paying the additional consideration. The fair value is estimated using projected future operating results and the corresponding future earn-out payments that can be earned upon the achievement of specified operating objectives and financial results by acquired companies using Level 3 may one In the fourth 2021, 2018. $1.7M two not first 19 2 3. second 2. The Company paid contingent consideration of $0.5 million and $0.3 million during the fifty-two January 1, 2022 fifty-three January 2, 2021, The changes in the liability for contingent consideration from acquisitions for the fifty-two January 1, 2022 fifty-three January 2, 2021 Balance as of December 28, 2019 $ 3,058 Contingent payments made (345 ) Changes in fair value of contingent payments 145 Balance as of January 2, 2021 $ 2,858 Contingent payments made (494 ) Changes in fair value of contingent consideration 52 Remeasurement of contingent consideration (1,713 ) Balance as of January 1, 2022 $ 703 Sale of Assets On July 30, 2021, two two two 205 20, not fifty-two January 1, 2022 fifty-three January 2, 2021, two not not no |
Note 7 - Goodwill
Note 7 - Goodwill | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Goodwill Disclosure [Text Block] | 7. GOODWILL Goodwill represents the premium paid over the fair value of the net tangible and intangible assets acquired in business combinations. The Company tests goodwill for impairment on an annual basis as of the last day of the Company's fiscal year or more frequently if events occur or circumstances change indicating that the fair value of goodwill may fifty-two January 1, 2022, 19 19 may not no fifty-two January 1, 2022 fifty-three January 2, 2021. fifty-two January 1, 2022 fifty-three January 2, 2021 The changes in the carrying amount of goodwill for the fifty-two January 1, 2022 fifty-three January 2, 2021 Engineering Specialty Health Care Information Technology Total Balance as of December 28, 2019 $ 11,918 $ 2,398 $ 2,038 $ 16,354 No change in fiscal 2020 - - - - Balance as of January 2, 2021 $ 11,918 $ 2,398 $ 2,038 $ 16,354 No change in fiscal 2021 - - - - Balance as of January 1, 2022 $ 11,918 $ 2,398 $ 2,038 $ 16,354 |
Note 8 - Intangible Assets
Note 8 - Intangible Assets | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 8. INTANGIBLE ASSETS The Company evaluates long-lived assets and intangible assets with definite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not fifty-two January 1, 2022, 19 19 may not fifty-two January 1, 2022 fifty-three January 2, 2021 All of the Company’s intangible assets are associated with the Engineering segment. Intangible assets other than goodwill are amortized over their useful lives. Intangible assets are carried at cost, less accumulated amortization. Details of intangible assets by class at January 1, 2022 January 2, 2021: January 1, 2022 January 2, 2021 Restricted covenants $ - $ 12 Customer relationships - 83 Total intangible assets $ - $ 95 Amortization of acquired intangible assets for the fifty-two January 1, 2022 fifty-three January 2, 2021 2021. |
Note 9 - Line of Credit
Note 9 - Line of Credit | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 9. LINE OF CREDIT The Company and its subsidiaries amended and restated its Revolving Credit Facility with Citizens Bank of Pennsylvania on October 18, 2019. no August 8, 2023. On September 29, 2020, third June 2020 Borrowings under the Revolving Credit Facility bear interest at one two 30 2022. not not not fifty-two January 1, 2022 fifty-three January 2, 2021 All borrowings under the Revolving Credit Facility are collateralized by all of the assets of the Company and its subsidiaries and a pledge of the stock of its subsidiaries. The Revolving Credit Facility also contains various financial and non-financial covenants, such as a covenant that restricts on the Company’s ability to borrow in order to pay dividends. As of January 1, 2022, Borrowings under the line of credit as of January 1, 2022 January 2, 2021 January 1, 2022 January 2, 2021, January 1, 2022, Impact to Line of Credit from COVID- 19 The Company is negatively impacted by COVID- 19 19 19 no |
Note 10 - Per Share Data
Note 10 - Per Share Data | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 10. PER SHARE DATA The Company uses the treasury stock method to calculate the weighted-average shares outstanding used for diluted earnings per share. The number of weighted-average shares used to calculate basic and diluted earnings per share for the fiscal years ended January 1, 2022 January 2, 2021 Fiscal Years Ended January 1, 2022 January 2, 2021 Basic weighted average shares outstanding 11,035,361 12,152,042 Dilutive effect of outstanding restricted share awards 589,740 - Weighted average dilutive shares outstanding 11,625,101 12,152,042 Because the year ended January 2, 2021 not January 1, 2022 January 2, 2021, no Unissued shares of common stock were reserved for the following purposes: January 1, 2022 January 2, 2021 Time-based restricted stock awards outstanding 420,628 459,805 Unvested subscription restricted share awards - 250,000 Performance-based restricted stock awards outstanding 125,000 - Future grants of options or shares 107,924 520,929 Shares reserved for employee stock purchase plan 448,110 149,894 Total 1,101,662 1,380,628 |
Note 11 - Share Based Compensat
Note 11 - Share Based Compensation | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 11. SHARE BASED COMPENSATION At January 1, 2022, two one three may may Share-based compensation expense of $1,358 and $1,108 was recognized for the fiscal years ended January 1, 2022 January 2, 2021, January 2, 2021 not January 1, 2022, As of January 1, 2022, two not 2014 2014 The 2014 December 2014, 2016 2020, 2014 December 17, 2030, 2014 As of January 1, 2022, 2014 125,000 The market value of equity grants for the fifty-two January 1, 2022 fifty-three January 2, 2021 Employee Stock Purchase Plan The Company implemented the 2001 January 1, 2001. one The Company has two first two two first January 1, 2022 January 2, 2021, January 1, 2022, January 1, 2022 January 2, 2021 In fiscal 2015, December 31, 2025. 2018, On October 20, 2021, December 31, 2030. Time-Based Restricted Stock Awards / Stock Subscription Receivable From time-to-time the Company issues time-based restricted stock awards. These time-based restricted stock awards typically include dividend accrual equivalents, which means that any dividends paid by the Company during the vesting period become due and payable after the vesting period assuming the grantee’s restricted stock award fully vests. Dividends for these grants are accrued on the dividend payment dates and included in accounts payable and accrued expenses on the accompanying condensed consolidated balance sheet. As of January 1, 2022, not Time-Based Restricted Stock Awards / Stock Subscription Receivable (Continued) The following summarizes the activity in the time-based restricted stock awards under the 2014 fifty-two January 1, 2022: Number of Time-Based Restricted Stock Awards Weighted Average Grant Date Fair Value per Share Outstanding non-vested at January 2, 2021 709,805 $ 1.92 Granted 163,005 $ 3.81 Vested (452,182 ) $ 1.89 Forfeited or expired - - Outstanding non-vested at January 1, 2022 420,628 $ 2.69 Based on the closing price of the Company’s common stock of $7.12 per share on December 31, 2021 ( January 1, 2022), January 1, 2022 January 1, 2022, 2024. In December 2020, one twelve January 2021 December 2021. During the fifty-two January 1, 2022, $2.17. 2020, Performance-Based Restricted Stock Awards From time-to-time the Company issues performance-based restricted stock units to its executives. Performance-based restricted stock units are typically vested based on certain multi-year performance metrics as determined by the Board of Directors Compensation Committee. These performance-based restricted stock units typically include dividend accrual equivalents, which means that any dividends paid by the Company during the vesting period become due and payable after the vesting period on any stock awards that actually vest, if any. Dividends for these grants are accrued on the dividend payment dates and included in accounts payable and accrued expenses on the accompanying condensed consolidated balance sheet. As of January 1, 2022, not To date, the Company has issued performance-based restricted stock units only under the 2014 fifty-two January 1, 2022: Number of Performance-Based Restricted Stock Awards Weighted Average Grant Date Fair Value per Share Outstanding non-vested at January 2, 2021 - - Granted 125,000 $ 3.26 Vested - - Forfeited or expired - - Outstanding non-vested at January 1, 2022 125,000 $ 3.26 As of January 1, 2022, The Company has estimated as of January 1, 2022 2021. $271. Number of Restricted Stock Awards Weighted Average Grant Date Fair Value per Share Outstanding non-vested at December 28, 2019 391,725 $ 4.36 Granted – time-based vesting 719,805 $ 1.88 Granted – performance-based vesting - - Vested (179,225 ) $ 3.78 Forfeited or expired (222,500 ) $ 4.55 Outstanding non-vested at January 2, 2021 709,805 $ 1.92 Granted – time-based vesting 163,005 $ 3.81 Granted – performance-based vesting 125,000 $ 3.26 Vested (452,182 ) $ 1.89 Forfeited or expired - - Outstanding non-vested at January 1, 2022 545,628 $ 2.82 Based on the closing price of the Company’s common stock of $7.12 per share on December 31, 2021, January 1, 2022 |
Note 12 - Treasury Stock Transa
Note 12 - Treasury Stock Transactions | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Treasury Stock [Text Block] | 12. TREASURY STOCK TRANSACTIONS On January 13, 2021, not 10b 18 1934, November 12, 2021, not $7.5 may may During the fifty-two January 1, 2022, January 1, 2022, On June 2, 2020, $1.20 September 1, 2020 December 1, March 1, June 1 September 1 August 10, 2023 September 25, 2020, June 2, 2020 not |
Note 13 - New Accounting Standa
Note 13 - New Accounting Standards | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 13. NEW ACCOUNTING STANDARDS In June 2016, 2016 13, Financial Instruments - Credit Losses (Topic 326 February 2020, 2020 02, Financial Instruments-Credit Losses (Topic 326 842 No. 119 No. 2016 02, 842 2016 13 December 15, 2022. not In March 2020, No. 2020 04, Reference Rate Reform (Topic 848 may December 31, 2022. |
Note 14 - Segment Information
Note 14 - Segment Information | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 14. SEGMENT INFORMATION The Company follows ASC280, 1 Segment operating income (loss) includes selling, general and administrative expenses directly attributable to that segment as well as charges for allocating corporate costs to each of the operating segments. The following tables reflect the results of the reportable segments consistent with the Company’s management system: Fiscal Year Ended January 1, 2022 Engineering Specialty Health Care Information Technology Corporate Total Revenue $ 66,172 $ 98,495 $ 39,208 $ - $ 203,875 Cost of services 50,109 73,177 27,465 - 150,751 Gross profit 16,063 25,318 11,743 - 53,124 Selling, general and administrative 14,210 19,490 8,319 - 42,019 Depreciation and amortization of property and equipment 521 373 113 - 1,007 Amortization of acquired intangible assets 95 - - - 95 Remeasurement of acquisition-related contingent consideration (1,713 ) - - - (1,713 ) Gain on sale of assets (2,420 ) - - - (2,420 ) Operating income (loss) $ 5,370 $ 5,455 $ 3,331 $ - $ 14,136 Total assets as of January 1, 2022 $ 28,343 $ 32,809 $ 8,676 $ 3,024 $ 72,852 Capital expenditures $ 481 $ 563 $ 173 $ 359 $ 1,576 Fiscal Year Ended January 2, 2021 Engineering Specialty Health Care Information Technology Corporate Total Revenue $ 57,715 $ 60,481 $ 32,213 $ - $ 150,409 Cost of services 41,227 47,116 23,211 - 111,554 Gross profit 16,488 13,365 9,002 - 38,855 Selling, general and administrative 13,021 15,601 9,169 - 37,791 Depreciation and amortization of property and equipment 638 319 108 - 1,065 Amortization of acquired intangible assets 321 - - - 321 Write-off of receivables and professional fees incurred related to arbitration 8,397 - - - 8,397 Impairment of right of use assets and related costs - - - 2,231 2,231 Operating income (loss) $ (5,889 ) $ (2,555 ) $ (275 ) $ (2,231 ) $ (10,950 ) Total assets as of January 2, 2021 $ 33,782 $ 19,141 $ 7,498 $ 7,918 $ 68,339 Capital expenditures $ 26 $ 36 $ 48 $ 350 $ 460 The Company derives a majority of its revenue from offices in the United States. Revenues reported for each operating segment are all from external customers. The Company is domiciled in the United States and its segments operate in the United States, Canada, Puerto Rico and Serbia. Revenues by geographic area for the fiscal years ended January 1, 2022 January 2, 2021 Fiscal Year Ended January 1, January 2, 2022 2021 Revenues United States $ 186,169 $ 126,238 Canada 9,578 15,310 Puerto Rico 5,237 5,702 Serbia 2,891 3,159 $ 203,875 $ 150,409 Total assets by geographic area as of the reported periods are as follows: Fiscal Year Ended January 1, January 2, 2022 2021 Total Assets United States $ 67,296 $ 56,308 Canada 1,327 7,067 Puerto Rico 963 1,483 Serbia 3,266 3,481 $ 72,852 $ 68,339 |
Note 15 - Income Taxes
Note 15 - Income Taxes | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 15. INCOME TAXES Generally, the Company’s relative income or loss generated in each of its jurisdictions can materially impact the consolidated effective income tax rate of the Company, particularly the ratio of Canadian and Serbian pretax income, versus United States pretax income. The consolidated effective income tax rate for fiscal 2021 fifty-two January 1, 2022 21.0% 2021 2020 January 1, 2022 January 2, 2021 Federal statutory rate 21.0 % 21.0 % Tax expense on taxable (loss) income at federal statutory rate $ 2,922 $ (2,532 ) State and Puerto Rico income taxes, net of Federal income tax benefit 519 (535 ) Permanent differences domestic (114 ) 154 Permanent differences foreign (657 ) - Remeasurement of contingent consideration (359 ) - Intangible asset deferred tax liability true-up 491 - Foreign income tax rates 89 (21 ) Adjustments to prior year federal taxes 46 (53 ) Other (12 ) (201 ) Total income tax expense $ 2,925 $ (3,188 ) The components of income tax expense are as follows: Fiscal Years Ended January 1, 2022 January 2, 2021 Current Federal $ 47 $ (32 ) State and local 45 174 Foreign 292 382 384 524 Deferred Federal 2,152 (2,844 ) State 612 (851 ) Foreign (223 ) (17 ) 2,541 (3,755 ) Total $ 2,925 $ (3,188 ) The components of earnings before income taxes by United States and foreign jurisdictions were as follows: Fiscal Years Ended January 1, 2022 January 2, 2021 United States $ 10,880 $ (13,898 ) Foreign jurisdictions 3,034 1,841 $ 13,914 $ (12,057 ) A reconciliation of the unrecognized tax benefits for the year January 1, 2022: Unrecognized Tax Benefits Balance as of December 28, 2019 Gross increases: tax positions in prior period $ - Gross increases: tax positions in current period $ - Balance as of January 2, 2021 $ - Gross increases: tax positions in prior period $ - Gross increases: tax positions in current period $ 1,196 Balance as of January 1, 2022 $ 1,196 The total amount of unrecognized tax benefits relating to the Company’s tax positions is subject to change based on future events including, but not not 12 The Company accounts for penalties or interest related to uncertain tax positions as part of its provision for income taxes and records such amounts to interest expense. The Company recorded no January 1, 2022 January 2, 2021. At January 1, 2022 January 2, 2021, January 1, 2022 January 2, 2021 Deferred tax assets: Allowance for doubtful accounts $ 297 $ 455 Federal and state net operating loss carryforward 1,153 2,634 Reserves and accruals 800 881 Lease liability 844 1,174 Other 314 318 Total deferred tax assets 3,408 5,462 Deferred tax liabilities: Acquisition amortization, net (1,428 ) (716 ) Prepaid expense deferral (552 ) (602 ) Bonus depreciation to be reversed (392 ) (280 ) Right of use assets (501 ) (564 ) Canada deferred tax liability, net (142 ) (365 ) Total deferred tax liabilities (3,015 ) (2,527 ) Total deferred tax assets (liabilities), net $ 393 $ 2,935 The Company has gross net operating losses of $2.9 million and $8.6 million to be applied to the net income of future federal and state tax returns, respectively. The principal amount of the federal net operating loss has an unlimited life. The Company conducts business in many states. Net operating losses in these states expire at differing periods but the majority of these expire from 2038 2040. The Company conducts its operations in multiple tax jurisdictions in the United States, Canada, Puerto Rico and Serbia. The Company and its subsidiaries file a consolidated United States Federal income tax return and file in various states. The Company’s federal income tax returns have been examined through 2017. no January 1, 2022. no 2018. no 2017. no 2011. no January 1, 2022. Differences between the effective tax rate and the applicable U.S. federal statutory rate may |
Note 16 - Contingencies
Note 16 - Contingencies | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | 16. CONTINGENCIES From time to time, the Company is a defendant or plaintiff in various legal actions that arise in the ordinary business course. These matters may may may As such, the Company is required to assess the likelihood of any adverse outcomes to these matters as well as potential ranges of losses and possible recoveries. The Company may not not may The Company is exposed to various asserted claims as of January 1, 2022, not not, January 1, 2022, January 1, 2022 $2.9 not not December 2020. January 2022. |
Note 17 - Retirement Plans
Note 17 - Retirement Plans | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 17. RETIREMENT PLANS Profit Sharing Plans The Company maintains a 401 401 401 401 may January 1, 2022 January 2, 2021 |
Note 18 - Commitments
Note 18 - Commitments | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 18. COMMITMENTS Executive Severance Agreements The Company is a party to Executive Severance Agreement (the “Executive Severance Agreement”) each of Bradley S. Vizi, the Company's Executive Chairman and President (dated as of June 1, 2018), February 28, 2014, three not Leases Leases are recorded in accordance with FASB ASC 842, 12 At January 1, 2021, 19, not Property, Plant and Equipment The Company determines if an arrangement is a lease at inception. For leases where the Company is the lessee, right of use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Right of use assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not . The components of lease expense were as follows: Fifty-Two Week Period Ended January 1, 2022 Fifty-Three Week Period Ended January 2, 2021 Operating lease cost $ 1,891 $ 2,524 Finance lease cost Amortization of right of use assets $ 401 $ 366 Interest on lease liabilities 9 10 Total finance lease cost $ 410 $ 376 Supplemental Cash Flow information related to leases was as follows: Fifty-Two Week Period Ended January 1, 2022 Fifty-Three Week Period Ended January 2, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,957 $ 2,589 Operating cash flows from finance leases $ 9 $ 7 Financing cash flows from finance leases $ 415 $ 402 Right of use assets obtained in exchange for lease obligations Operating leases $ 830 $ 1,257 Finance leases $ 1,002 $ 258 Supplemental Balance Sheet information as of January 1, 2022 Fifty-Two Week Period Ended January 1, 2022 Fifty-Three Week Period Ended January 2, 2021 Operating leases Operating lease right of use assets $ 1,877 $ 2,409 Operating right of use liability - current $ (1,502 ) $ (1,886 ) Operating right of use liability - non-current (1,631 ) (2,641 ) Total operating lease liabilities $ (3,133 ) $ (4,527 ) Finance leases Property and equipment - (right of use assets) $ 1,367 $ 1,140 Accumulated depreciation (375 ) (746 ) Property and equipment, net $ 992 $ 394 Finance lease liability - current $ (437 ) $ (247 ) Finance lease liability - non-current (502 ) (106 ) Total finance lease liabilities $ (939 ) $ (353 ) Weighted average remaining lease term Operating leases 1.80 Years 2.03 Years Finance leases 2.34 years 1.45 Years Weighted average discount rate Operating leases 3.32 % 4.06 % Finance leases 1.15 % 2.63 % Maturities of lease liabilities are as follows: Fiscal Year Operating Leases Finance Leases 2022 $ 1,579 $ 446 2023 1,097 337 2024 396 168 2025 133 - Thereafter 50 - Total lease payments $ 3,255 $ 951 Less: imputed interest (122 ) (12 ) Total $ 3,133 $ 939 |
Note 19 - Related Party Transac
Note 19 - Related Party Transactions | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 19. RELATED PARTY TRANSACTIONS There have been no |
Note 20 - Stockholder Rights Pl
Note 20 - Stockholder Rights Plan | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 20. STOCKHOLDER RIGHTS PLAN On May 22, 2020, a June 2, 2020 one one one The initial issuance of the Rights as a dividend had no not no not not no The Rights expired in accordance with their terms on May 22, 2021 no |
Note 21 - COVID-19
Note 21 - COVID-19 | 12 Months Ended |
Jan. 01, 2022 | |
Notes to Financial Statements | |
Effect of COVID-19 Pandemic [Text Block] | 21. COVID- 19 In March 2020, 19 2020 2021, may 2022 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 01, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Description of Business and Basis of Presentation RCM Technologies, Inc. (the “Company” or “RCM”) is a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced engineering, life sciences and information technology services. Additionally, the Company provides specialty health care staffing services through its Specialty Health Care Services group. RCM’s offices are primarily located in major metropolitan centers throughout North America. The consolidated financial statements are comprised of the accounts of the Company and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers its holdings of highly liquid money-market instruments and certificates of deposits to be cash equivalents if the securities mature within 90 may January 1, 2022 January 2, 2021, January 1, 2022 January 2, 2021, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company’s carrying value of financial instruments, consisting primarily of accounts receivable, transit accounts receivable, accounts payable and accrued expenses, transit accounts payable and borrowings under line of credit approximates fair value due to their liquidity or their short-term nature and the line of credit’s variable interest rate. The Company does not |
Receivable [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts The Company’s accounts receivable are primarily due from trade customers. Credit is extended based on evaluation of customers’ financial condition and, generally, collateral is not |
Accrued and Unbilled Accounts Receivable and Work in Process [Policy Text Block] | Accrued and Unbilled Accounts Receivable and Work-in-Process Unbilled receivables primarily represent revenues earned whereby those services are ready to be billed as of the balance sheet ending date. Work-in-process primarily represents revenues earned under contracts which the Company is contractually precluded from invoicing until future dates as project milestones are realized. See Note 4 |
Transit Receivable and Transit Payable [Policy Text Block] | Transit Accounts Receivable and Transit Accounts Payable From time to time, the Company’s Engineering segment enters into agreements to provide, among other things, construction management and engineering services. Pursuant to these agreements, the Company a) may no 606 Under the terms of the agreements, the Company is typically not not not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost and are depreciated on the straight-line method at rates calculated to provide for retirement of assets at the end of their estimated useful lives. The annual rates are 20% for computer hardware and software as well as furniture and office equipment. Leasehold improvements are amortized over the shorter of the estimated life of the asset or the lease term. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Intangible Assets The Company’s intangible assets have been generated through acquisitions. The Company maintains responsibility for valuing and determining the useful life of intangible assets. As a general rule, the Company amortizes restricted covenants over four six may third |
Canadian Sales Tax [Policy Text Block] | Canadian Sales Tax The Company is required to charge and collect sales tax for all Canadian clients and remits invoiced sales tax monthly to the Canadian taxing authorities whether collected or not. not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill is not 350 Intangibles - Goodwill and Other. December may three 2017 04, 350 January 2, 2021 2 0 no The Company did not January 1, 2022 January 2, 2021. no not |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Long-Lived and Intangible Assets The Company evaluates long-lived assets and intangible assets with definite lives for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not |
Research, Development, and Computer Software, Policy [Policy Text Block] | Software In accordance with FASB ASC 350 40 January 1, 2022 January 2, 2021, January 1, 2022 January 2, 2021 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company makes judgments and interpretations based on enacted tax laws, published tax guidance, as well as estimates of future earnings. These judgments and interpretations affect the provision for income taxes, deferred tax assets and liabilities and the valuation allowance. The Company evaluated the deferred tax assets and determined on the basis of objective factors that the net assets will be realized through future years’ taxable income. In the event that actual results differ from these estimates and assessments, additional valuation allowances may not January 1, 2022 January 2, 2021. The Company accounts for income taxes in accordance with FASB ACS 740 740 740 The Company also follows the provisions of FASB ASC 740 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company records revenue under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers We evaluate our revenue contracts with customers based on the five 606: 1 2 3 4 5 The Company derives its revenue from several sources. The Company’s Engineering Services and Life Sciences and Information Technology segments perform consulting and project solution services. The Healthcare segment specializes in long-term and short-term staffing and placement services to hospitals, schools and long-term care facilities amongst others. All of the Company’s segments perform staff augmentation services and derive revenue from permanent placement fees. The majority of the Company’s revenue is invoiced on a time and materials basis. The following table presents our revenues disaggregated by revenue source for the fifty-two January 1, 2022 fifty-three January 2, 2021: January 1, 2022 January 2, 2021 Engineering: Time and Material $ 45,035 $ 43,359 Fixed Fee 21,070 14,145 Permanent Placement Services 67 211 Total Engineering $ 66,172 $ 57,715 Specialty Health Care: Time and Material $ 97,363 $ 59,692 Permanent Placement Services 1,132 789 Total Specialty Health Care $ 98,495 $ 60,481 Life Sciences and Information Technology: Time and Material $ 38,571 $ 31,723 Permanent Placement Services 637 490 Total Life Sciences and Information Technology $ 39,208 $ 32,213 $ 203,875 $ 150,409 Time and Material The Company’s IT and Healthcare segments predominantly recognize revenue through time and material work while its Engineering segment recognizes revenue through both time and material and fixed fee work. The Company’s time and material contracts are typically based on the number of hours worked at contractually agreed upon rates, therefore revenue associated with these time and materials contracts are recognized based on hours worked at contracted rates. Fixed Fee From time to time and predominantly in our Engineering segment, the Company will enter into contracts requiring the completion of specific deliverables. The Company has master services agreements with many of its customers that broadly define terms and conditions. Actual services performed under fixed fee arrangements are typically delivered under purchase orders that more specifically define terms and conditions related to that fixed fee project. While these master services agreements can often span several years, the Company’s fixed fee purchase orders are typically performed over six nine not not Permanent Placement Services The Company earns permanent placement fees from providing permanent placement services. These fees are typically based on a percentage of the compensation paid to the person placed with the Company’s client. The Company guarantees its permanent placements on a prorated basis for 90 not 90 January 1, 2022 January 2, 2021. The deferred revenue balance as of January 1, 2022 January 2, 2021 may one fifty-two January 1, 2022 fifty-three January 2, 2021, Transit Receivables and Transit Payables From time to time, the Company’s Engineering segment enters into agreements to provide, among other things, construction management and engineering services. Pursuant to these agreements, the Company a) may no not not not January 1, 2022. January 2, 2021. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration During the fiscal year ended January 1, 2022, no 10% January 1, 2022, 10.0% 15.3% 14.2%. No 10% five ten twenty 65.1%, January 1, 2022. During the fiscal year ended January 2, 2021, No 10% January 2, 2021, 10.0% 10.6%. No 10% five 33.4%, 60.7%, January 2, 2021. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation The functional currency of the Company’s Canadian and Serbian subsidiaries is the local currency. Assets and liabilities are translated at period-end exchange rates. Income and expense items are translated at weighted average rates of exchange prevailing during the year. Any translation adjustments are included in the accumulated other comprehensive income account in stockholders’ equity. Transactions executed in different currencies resulting in exchange adjustments are translated at spot rates and resulting foreign exchange transaction gains and losses are included in the results of operations. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income consists of net income and foreign currency translation adjustments. |
Earnings Per Share, Policy [Policy Text Block] | Per Share Data Basic net income per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net income per share is calculated using the weighted-average number of common shares plus dilutive potential common shares outstanding during the period. Potential dilutive common shares consist of stock options and other stock-based awards under the Company’s stock compensation plans, when their impact is dilutive. Because of the Company’s capital structure, all reported earnings pertain to common shareholders and no |
Share-based Payment Arrangement [Policy Text Block] | Share - Based Compensation The Company recognizes share-based compensation over the vesting period of an award based on fair value at the grant date determined using the Black-Scholes option pricing model. Certain assumptions are used to determine the fair value of stock-based payment awards on the date of grant and require subjective judgment. Because employee stock options have characteristics significantly different from those of traded options, and because changes in the input assumptions can materially affect the fair value estimate, the existing models may not may may 11 Restricted share awards are recognized at their fair value. The amount of compensation cost is measured on the grant date fair value of the equity instrument issued. The compensation cost of the restricted share awards is recognized over the vesting period of the restricted share awards on a straight-line basis. Restricted share awards typically include dividend accrual equivalents, which means that any dividends paid by the Company during the vesting period become due and payable after the vesting period assuming the grantee’s restricted stock unit fully vests. Dividends for these grants are accrued on the dividend payment dates and included in accounts payable and accrued expenses on the accompanying consolidated balance sheet. Dividends for restricted share awards that ultimately do not |
Advertising Cost [Policy Text Block] | Advertising Costs Advertising costs are expensed as incurred. Total advertising expense was $914 and $800 for the fiscal years ended January 1, 2022 January 2, 2021, |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements The Company values its financial assets and liabilities based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, a fair value hierarchy was established that prioritizes observable and unobservable inputs used to measure fair value into three Level 1: 1 Level 2: 1 Level 3: no 3 In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification Certain prior year amounts have been reclassified to conform with the current year presentation. These classifications had no |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | January 1, 2022 January 2, 2021 Engineering: Time and Material $ 45,035 $ 43,359 Fixed Fee 21,070 14,145 Permanent Placement Services 67 211 Total Engineering $ 66,172 $ 57,715 Specialty Health Care: Time and Material $ 97,363 $ 59,692 Permanent Placement Services 1,132 789 Total Specialty Health Care $ 98,495 $ 60,481 Life Sciences and Information Technology: Time and Material $ 38,571 $ 31,723 Permanent Placement Services 637 490 Total Life Sciences and Information Technology $ 39,208 $ 32,213 $ 203,875 $ 150,409 |
Note 4 - Accounts Receivable,_2
Note 4 - Accounts Receivable, Transit Accounts Receivable and Transit Accounts Payable (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | January 1, 2022 January 2, 2021 Billed $ 37,396 $ 25,926 Accrued and unbilled 10,231 8,219 Work-in-progress 1,810 3,612 Allowance for sales discounts and doubtful accounts (1,197 ) (1,750 ) Accounts receivable, net $ 48,240 $ 36,007 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | January 1, 2022 January 2, 2021 Computers and systems $ 4,133 $ 4,686 Equipment and furniture 86 264 Leasehold improvements 159 236 4,378 5,185 Less: accumulated depreciation and amortization 2,439 3,107 Property and equipment, net $ 1,939 $ 2,078 |
Note 6 - Acquisitions (Tables)
Note 6 - Acquisitions (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | Fiscal Year Ending Total December 31, 2022 $ 103 December 30, 2023 600 Estimated future contingent consideration payments $ 703 Balance as of December 28, 2019 $ 3,058 Contingent payments made (345 ) Changes in fair value of contingent payments 145 Balance as of January 2, 2021 $ 2,858 Contingent payments made (494 ) Changes in fair value of contingent consideration 52 Remeasurement of contingent consideration (1,713 ) Balance as of January 1, 2022 $ 703 |
Note 7 - Goodwill (Tables)
Note 7 - Goodwill (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Engineering Specialty Health Care Information Technology Total Balance as of December 28, 2019 $ 11,918 $ 2,398 $ 2,038 $ 16,354 No change in fiscal 2020 - - - - Balance as of January 2, 2021 $ 11,918 $ 2,398 $ 2,038 $ 16,354 No change in fiscal 2021 - - - - Balance as of January 1, 2022 $ 11,918 $ 2,398 $ 2,038 $ 16,354 |
Note 8 - Intangible Assets (Tab
Note 8 - Intangible Assets (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | January 1, 2022 January 2, 2021 Restricted covenants $ - $ 12 Customer relationships - 83 Total intangible assets $ - $ 95 |
Note 10 - Per Share Data (Table
Note 10 - Per Share Data (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Fiscal Years Ended January 1, 2022 January 2, 2021 Basic weighted average shares outstanding 11,035,361 12,152,042 Dilutive effect of outstanding restricted share awards 589,740 - Weighted average dilutive shares outstanding 11,625,101 12,152,042 |
Unissued Shares of Common Stock [Table Text Block] | January 1, 2022 January 2, 2021 Time-based restricted stock awards outstanding 420,628 459,805 Unvested subscription restricted share awards - 250,000 Performance-based restricted stock awards outstanding 125,000 - Future grants of options or shares 107,924 520,929 Shares reserved for employee stock purchase plan 448,110 149,894 Total 1,101,662 1,380,628 |
Note 11 - Share Based Compens_2
Note 11 - Share Based Compensation (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Time-Based Restricted Stock Awards Weighted Average Grant Date Fair Value per Share Outstanding non-vested at January 2, 2021 709,805 $ 1.92 Granted 163,005 $ 3.81 Vested (452,182 ) $ 1.89 Forfeited or expired - - Outstanding non-vested at January 1, 2022 420,628 $ 2.69 Number of Performance-Based Restricted Stock Awards Weighted Average Grant Date Fair Value per Share Outstanding non-vested at January 2, 2021 - - Granted 125,000 $ 3.26 Vested - - Forfeited or expired - - Outstanding non-vested at January 1, 2022 125,000 $ 3.26 Number of Restricted Stock Awards Weighted Average Grant Date Fair Value per Share Outstanding non-vested at December 28, 2019 391,725 $ 4.36 Granted – time-based vesting 719,805 $ 1.88 Granted – performance-based vesting - - Vested (179,225 ) $ 3.78 Forfeited or expired (222,500 ) $ 4.55 Outstanding non-vested at January 2, 2021 709,805 $ 1.92 Granted – time-based vesting 163,005 $ 3.81 Granted – performance-based vesting 125,000 $ 3.26 Vested (452,182 ) $ 1.89 Forfeited or expired - - Outstanding non-vested at January 1, 2022 545,628 $ 2.82 |
Note 14 - Segment Information (
Note 14 - Segment Information (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Fiscal Year Ended January 1, 2022 Engineering Specialty Health Care Information Technology Corporate Total Revenue $ 66,172 $ 98,495 $ 39,208 $ - $ 203,875 Cost of services 50,109 73,177 27,465 - 150,751 Gross profit 16,063 25,318 11,743 - 53,124 Selling, general and administrative 14,210 19,490 8,319 - 42,019 Depreciation and amortization of property and equipment 521 373 113 - 1,007 Amortization of acquired intangible assets 95 - - - 95 Remeasurement of acquisition-related contingent consideration (1,713 ) - - - (1,713 ) Gain on sale of assets (2,420 ) - - - (2,420 ) Operating income (loss) $ 5,370 $ 5,455 $ 3,331 $ - $ 14,136 Total assets as of January 1, 2022 $ 28,343 $ 32,809 $ 8,676 $ 3,024 $ 72,852 Capital expenditures $ 481 $ 563 $ 173 $ 359 $ 1,576 Fiscal Year Ended January 2, 2021 Engineering Specialty Health Care Information Technology Corporate Total Revenue $ 57,715 $ 60,481 $ 32,213 $ - $ 150,409 Cost of services 41,227 47,116 23,211 - 111,554 Gross profit 16,488 13,365 9,002 - 38,855 Selling, general and administrative 13,021 15,601 9,169 - 37,791 Depreciation and amortization of property and equipment 638 319 108 - 1,065 Amortization of acquired intangible assets 321 - - - 321 Write-off of receivables and professional fees incurred related to arbitration 8,397 - - - 8,397 Impairment of right of use assets and related costs - - - 2,231 2,231 Operating income (loss) $ (5,889 ) $ (2,555 ) $ (275 ) $ (2,231 ) $ (10,950 ) Total assets as of January 2, 2021 $ 33,782 $ 19,141 $ 7,498 $ 7,918 $ 68,339 Capital expenditures $ 26 $ 36 $ 48 $ 350 $ 460 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Fiscal Year Ended January 1, January 2, 2022 2021 Revenues United States $ 186,169 $ 126,238 Canada 9,578 15,310 Puerto Rico 5,237 5,702 Serbia 2,891 3,159 $ 203,875 $ 150,409 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | Fiscal Year Ended January 1, January 2, 2022 2021 Total Assets United States $ 67,296 $ 56,308 Canada 1,327 7,067 Puerto Rico 963 1,483 Serbia 3,266 3,481 $ 72,852 $ 68,339 |
Note 15 - Income Taxes (Tables)
Note 15 - Income Taxes (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | January 1, 2022 January 2, 2021 Federal statutory rate 21.0 % 21.0 % Tax expense on taxable (loss) income at federal statutory rate $ 2,922 $ (2,532 ) State and Puerto Rico income taxes, net of Federal income tax benefit 519 (535 ) Permanent differences domestic (114 ) 154 Permanent differences foreign (657 ) - Remeasurement of contingent consideration (359 ) - Intangible asset deferred tax liability true-up 491 - Foreign income tax rates 89 (21 ) Adjustments to prior year federal taxes 46 (53 ) Other (12 ) (201 ) Total income tax expense $ 2,925 $ (3,188 ) |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Fiscal Years Ended January 1, 2022 January 2, 2021 Current Federal $ 47 $ (32 ) State and local 45 174 Foreign 292 382 384 524 Deferred Federal 2,152 (2,844 ) State 612 (851 ) Foreign (223 ) (17 ) 2,541 (3,755 ) Total $ 2,925 $ (3,188 ) Fiscal Years Ended January 1, 2022 January 2, 2021 United States $ 10,880 $ (13,898 ) Foreign jurisdictions 3,034 1,841 $ 13,914 $ (12,057 ) |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Unrecognized Tax Benefits Balance as of December 28, 2019 Gross increases: tax positions in prior period $ - Gross increases: tax positions in current period $ - Balance as of January 2, 2021 $ - Gross increases: tax positions in prior period $ - Gross increases: tax positions in current period $ 1,196 Balance as of January 1, 2022 $ 1,196 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | January 1, 2022 January 2, 2021 Deferred tax assets: Allowance for doubtful accounts $ 297 $ 455 Federal and state net operating loss carryforward 1,153 2,634 Reserves and accruals 800 881 Lease liability 844 1,174 Other 314 318 Total deferred tax assets 3,408 5,462 Deferred tax liabilities: Acquisition amortization, net (1,428 ) (716 ) Prepaid expense deferral (552 ) (602 ) Bonus depreciation to be reversed (392 ) (280 ) Right of use assets (501 ) (564 ) Canada deferred tax liability, net (142 ) (365 ) Total deferred tax liabilities (3,015 ) (2,527 ) Total deferred tax assets (liabilities), net $ 393 $ 2,935 |
Note 18 - Commitments (Tables)
Note 18 - Commitments (Tables) | 12 Months Ended |
Jan. 01, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Fifty-Two Week Period Ended January 1, 2022 Fifty-Three Week Period Ended January 2, 2021 Operating lease cost $ 1,891 $ 2,524 Finance lease cost Amortization of right of use assets $ 401 $ 366 Interest on lease liabilities 9 10 Total finance lease cost $ 410 $ 376 |
Lease, Cash Flow Information [Table Text Block] | Fifty-Two Week Period Ended January 1, 2022 Fifty-Three Week Period Ended January 2, 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,957 $ 2,589 Operating cash flows from finance leases $ 9 $ 7 Financing cash flows from finance leases $ 415 $ 402 Right of use assets obtained in exchange for lease obligations Operating leases $ 830 $ 1,257 Finance leases $ 1,002 $ 258 |
Lease, Balance Sheet Information [Table Text Block] | Fifty-Two Week Period Ended January 1, 2022 Fifty-Three Week Period Ended January 2, 2021 Operating leases Operating lease right of use assets $ 1,877 $ 2,409 Operating right of use liability - current $ (1,502 ) $ (1,886 ) Operating right of use liability - non-current (1,631 ) (2,641 ) Total operating lease liabilities $ (3,133 ) $ (4,527 ) Finance leases Property and equipment - (right of use assets) $ 1,367 $ 1,140 Accumulated depreciation (375 ) (746 ) Property and equipment, net $ 992 $ 394 Finance lease liability - current $ (437 ) $ (247 ) Finance lease liability - non-current (502 ) (106 ) Total finance lease liabilities $ (939 ) $ (353 ) Weighted average remaining lease term Operating leases 1.80 Years 2.03 Years Finance leases 2.34 years 1.45 Years Weighted average discount rate Operating leases 3.32 % 4.06 % Finance leases 1.15 % 2.63 % |
Lease, Liability, Maturity [Table Text Block] | Fiscal Year Operating Leases Finance Leases 2022 $ 1,579 $ 446 2023 1,097 337 2024 396 168 2025 133 - Thereafter 50 - Total lease payments $ 3,255 $ 951 Less: imputed interest (122 ) (12 ) Total $ 3,133 $ 939 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022USD ($) | Jan. 02, 2021USD ($) | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 235 | $ 734 |
Annual Depreciation Rate | 20.00% | |
Number of Reporting Units | 3 | |
Goodwill, Impairment Loss | $ 0 | 0 |
Capitalized Computer Software, Additions | 1,256 | 305 |
Capitalized Computer Software, Net, Ending Balance | 1,350 | 1,389 |
Deferred Tax Assets, Valuation Allowance, Total | 0 | 0 |
Revenue from Contract with Customer, Including Assessed Tax | 203,875 | 150,409 |
Contract with Customer, Liability, Total | 3,400 | 400 |
Contract with Customer, Liability, Revenue Recognized | 400 | 400 |
Advertising Expense | $ 914 | $ 800 |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Ginkgo Bioworks [Member] | ||
Concentration Risk, Percentage | 15.30% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Hawaii Department of Education [Member] | ||
Concentration Risk, Percentage | 14.20% | 10.60% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | New York City Board of Education [Member] | ||
Concentration Risk, Percentage | 11.80% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Five Largest Customers [Member] | ||
Concentration Risk, Percentage | 35.80% | 33.40% |
Number of Customers | 5 | 5 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Ten Largest Customers [Member] | ||
Concentration Risk, Percentage | 52.50% | 46.60% |
Number of Customers | 10 | 10 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Twenty Largest Customers [Member] | ||
Concentration Risk, Percentage | 65.10% | 60.70% |
Number of Customers | 20 | 20 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | New York City Board of Education [Member] | ||
Concentration Risk, Percentage | 10.60% | |
Transit Accounts Payable [Member] | ||
Accounts Payable, Current, Total | $ 2,100 | $ 4,900 |
Accounts Payable, Net | 1,100 | 2,400 |
Transit Accounts Receivable [Member] | ||
Accounts Receivable, before Allowance for Credit Loss, Current | 1,000 | 2,500 |
Service, Other [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,800 | 1,500 |
Restricted Covenants [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 4 years | |
Customer Relationships [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 6 years | |
CANADA | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 21 | 42 |
Revenue from Contract with Customer, Including Assessed Tax | 9,578 | 15,310 |
SERBIA | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 169 | 246 |
Revenue from Contract with Customer, Including Assessed Tax | $ 2,891 | $ 3,159 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Revenues | $ 203,875 | $ 150,409 |
Engineering Services [Member] | ||
Revenues | 66,172 | 57,715 |
Engineering Services [Member] | Time-and-materials Contract [Member] | ||
Revenues | 45,035 | 43,359 |
Engineering Services [Member] | Fixed-price Contract [Member] | ||
Revenues | 21,070 | 14,145 |
Engineering Services [Member] | Permanent Placement Services [Member] | ||
Revenues | 67 | 211 |
Health Care [Member] | ||
Revenues | 98,495 | 60,481 |
Health Care [Member] | Time-and-materials Contract [Member] | ||
Revenues | 97,363 | 59,692 |
Health Care [Member] | Permanent Placement Services [Member] | ||
Revenues | 1,132 | 789 |
Technology Service [Member] | ||
Revenues | 39,208 | 32,213 |
Technology Service [Member] | Time-and-materials Contract [Member] | ||
Revenues | 38,571 | 31,723 |
Technology Service [Member] | Permanent Placement Services [Member] | ||
Revenues | $ 637 | $ 490 |
Note 4 - Accounts Receivable,_3
Note 4 - Accounts Receivable, Transit Accounts Receivable and Transit Accounts Payable - Accounts Receivable (Details) - USD ($) $ in Thousands | Jan. 01, 2022 | Jan. 02, 2021 |
Allowance for sales discounts and doubtful accounts | $ (1,197) | $ (1,750) |
Accounts receivable, net | 48,240 | 36,007 |
Billed Revenues [Member] | ||
Accounts receivable, current | 37,396 | 25,926 |
Unbilled Revenues [Member] | ||
Accounts receivable, current | 10,231 | 8,219 |
Work In Progress [Member] | ||
Accounts receivable, current | $ 1,810 | $ 3,612 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Write Off of Fully Depreciated Property and Equipment | $ 1,671 | $ 1,529 |
Depreciation, Total | 1,007 | $ 1,065 |
Canadian Power Systems [Member] | ||
Disposal Group, Including Discontinued Operation, Assets, Total | $ 713 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Jan. 01, 2022 | Jan. 02, 2021 |
Property and equipment | $ 4,378 | $ 5,185 |
Less: accumulated depreciation and amortization | 2,439 | 3,107 |
Property and equipment, net | 1,939 | 2,078 |
Computers and Systems [Member] | ||
Property and equipment | 4,133 | 4,686 |
Equipment and Furniture [Member] | ||
Property and equipment | 86 | 264 |
Leasehold Improvements [Member] | ||
Property and equipment | $ 159 | $ 236 |
Note 6 - Acquisitions (Details
Note 6 - Acquisitions (Details Textual) - USD ($) $ in Thousands | Jul. 30, 2021 | Jan. 01, 2022 | Jan. 01, 2022 | Jan. 02, 2021 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ 52 | $ 145 | ||
Payment for Contingent Consideration Liability, Financing Activities | 494 | 345 | ||
Revenue from Contract with Customer, Including Assessed Tax | 203,875 | 150,409 | ||
Gain (Loss) on Disposition of Business | 2,420 | 0 | ||
Engineering [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 66,172 | 57,715 | ||
Gain (Loss) on Disposition of Business | 2,420 | |||
Engineering [Member] | Pickering and Kincardine Offices [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 4,900 | 11,800 | ||
Gain (Loss) on Disposition of Business | $ 2,400 | |||
Escrow Deposit | $ 800 | |||
Sale of Assets, Escrow Deposit, Expected Period for Return of Deposit (Month) | 18 months | |||
PSR & TKE Acquisitions [Member] | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 700 | 700 | ||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (1,700) | |||
Payment for Contingent Consideration Liability, Financing Activities | $ 500 | $ 300 |
Note 6 - Acquisitions - Maximum
Note 6 - Acquisitions - Maximum Deferred Consideration Payments (Details) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022USD ($) | Jan. 02, 2021USD ($) | |
December 31, 2022 | $ 103 | |
December 30, 2023 | 600 | |
Estimated future contingent consideration payments | 703 | |
Contingent consideration paid | (494) | $ (345) |
Changes in fair value of contingent payments | 52 | 145 |
Remeasurement of contingent consideration | 1,713 | 0 |
Balance | $ 703 | $ 2,858 |
Note 7 - Goodwill (Details Text
Note 7 - Goodwill (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Goodwill, Impairment Loss | $ 0 | $ 0 |
Note 7 - Goodwill - Changes in
Note 7 - Goodwill - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Balance | $ 16,354 | $ 16,354 |
No change | 0 | 0 |
Balance | 16,354 | 16,354 |
Engineering [Member] | ||
Balance | 11,918 | 11,918 |
No change | 0 | |
Balance | 11,918 | 11,918 |
Specialty Health Care [Member] | ||
Balance | 2,398 | 2,398 |
No change | 0 | |
Balance | 2,398 | 2,398 |
Information Technology [Member] | ||
Balance | 2,038 | 2,038 |
No change | 0 | |
Balance | $ 2,038 | $ 2,038 |
Note 8 - Intangible Assets (Det
Note 8 - Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 0 | $ 0 |
Amortization of Intangible Assets, Total | $ 95 | $ 321 |
Note 8 - Intangible Assets - In
Note 8 - Intangible Assets - Intangible Assets by Class (Details) - USD ($) $ in Thousands | Jan. 01, 2022 | Jan. 02, 2021 |
Intangible assets, net | $ 0 | $ 95 |
Restricted Covenants [Member] | ||
Intangible assets, net | 0 | 12 |
Customer Relationships [Member] | ||
Intangible assets, net | $ 0 | $ 83 |
Note 9 - Line of Credit (Detail
Note 9 - Line of Credit (Details Textual) - USD ($) $ in Thousands | Sep. 29, 2020 | Sep. 25, 2020 | Jan. 01, 2022 | Jan. 02, 2021 | Oct. 18, 2019 |
Long-term Line of Credit, Noncurrent | $ 14,151 | $ 11,890 | |||
Note Issued to Acquire Treasury Stock [Member] | |||||
Repayments of Subordinated Debt, Total | $ 2,200 | $ 2,200 | |||
Citizens Bank of Pennsylvania [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 45,000 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 2.00% | 2.70% | |||
Long-term Line of Credit, Noncurrent | $ 14,200 | $ 11,900 | |||
Letters of Credit Outstanding, Amount | 1,900 | $ 1,900 | |||
Line of Credit Facility, Remaining Borrowing Capacity | $ 28,900 |
Note 10 - Per Share Data (Detai
Note 10 - Per Share Data (Details Textual) - shares | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 0 | 0 |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 46,873 |
Note 10 - Per Share Data - Weig
Note 10 - Per Share Data - Weighted Average Number of Common Shares (Details) - shares | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Basic weighted average shares outstanding (in shares) | 11,035,361 | 12,152,042 |
Dilutive effect of outstanding restricted share awards (in shares) | 589,740 | 0 |
Weighted average dilutive shares outstanding (in shares) | 11,625,101 | 12,152,042 |
Note 10 - Per Share Data - Unis
Note 10 - Per Share Data - Unissued Shares of Common Stock Were Reserved for the Following Purposes (Details) - shares | Jan. 01, 2022 | Jan. 02, 2021 |
Future grants of options or shares (in shares) | 107,924 | 520,929 |
Shares reserved for employee stock purchase plan (in shares) | 448,110 | 149,894 |
Total (in shares) | 1,101,662 | 1,380,628 |
Time-based Restricted Stock Units [Member] | ||
Restricted stock awards outstanding (in shares) | 420,628 | 459,805 |
Unvested Subscription Restricted Share Awards [Member] | ||
Restricted stock awards outstanding (in shares) | 0 | 250,000 |
Performance-based Restricted Stock Units Potential Upward Adjustment [Member] | ||
Restricted stock awards outstanding (in shares) | 125,000 | 0 |
Note 11 - Share Based Compens_3
Note 11 - Share Based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Oct. 20, 2021 | Dec. 31, 2020 | Jan. 01, 2022 | Jan. 02, 2021 | Dec. 29, 2018 | Dec. 31, 2016 | Dec. 27, 2015 | Dec. 31, 2021 | Oct. 02, 2021 | Dec. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||
Share-based Payment Arrangement, Expense | $ 1,358 | $ 1,108 | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 1,101,662 | 1,380,628 | ||||||||
Share Price (in dollars per share) | $ 7.12 | |||||||||
The 2014 Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,975,000 | 625,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 850,000 | 500,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 107,924 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Granted in Period, Fair Value | $ 2,900 | $ 1,500 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested | 3,900 | |||||||||
Employee Stock Purchase Plan [Member] | ||||||||||
Share-based Payment Arrangement, Expense | $ 134 | $ 44 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 400,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 448,110 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 85.00% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee (in shares) | 3,000 | |||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 101,784 | 117,983 | ||||||||
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised, Total | $ 137 | $ 208 | ||||||||
Additional Shares of Common Stock Reserved for Future Issuance (in shares) | 300,000 | 300,000 | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | 1,400,000 | 1,100,000 | ||||||||
Performance-based Restricted Stock Units [Member] | ||||||||||
Share-based Payment Arrangement, Expense | $ 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 125,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 125,000 | 0 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.26 | $ 0 | ||||||||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options, Maximum Shares Upon Adjustment (in shares) | 125,000 | |||||||||
Performance-based Restricted Stock Units [Member] | The 2014 Plan [Member] | ||||||||||
Share-based Payment Arrangement, Expense | $ 271,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 125,000 | 0 | ||||||||
Dividends Payable | $ 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 125,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.26 | |||||||||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options, Maximum Shares Upon Adjustment (in shares) | 125,000 | |||||||||
Time-based Restricted Stock Units [Member] | ||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 700 | |||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years | |||||||||
Share Price (in dollars per share) | $ 7.12 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 163,005 | 719,805 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.81 | $ 1.88 | ||||||||
Time-based Restricted Stock Units [Member] | Immediately Vested [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 125,000 | 100,092 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.17 | $ 1.33 | ||||||||
Time-based Restricted Stock Units [Member] | Senior Management [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 250,000 | |||||||||
Time-based Restricted Stock Units [Member] | The 2014 Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 420,628 | 709,805 | ||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 700 | |||||||||
Dividends Payable | 0 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested | $ 3,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 163,005 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 3.81 | |||||||||
Minimum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 1 year | |||||||||
Maximum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years |
Note 11 - Share-based Compensat
Note 11 - Share-based Compensation - Restricted Stock Units Activity (Details) - $ / shares | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Time-based Restricted Stock Units [Member] | ||
Granted (in shares) | 163,005 | 719,805 |
Granted, weighted average grant date fair value (in dollars per share) | $ 3.81 | $ 1.88 |
Time-based Restricted Stock Units [Member] | The 2014 Plan [Member] | ||
Outstanding non-vested (in shares) | 709,805 | |
Outstanding non-vested, weighted average grant date fair value (in dollars per share) | $ 1.92 | |
Granted (in shares) | 163,005 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 3.81 | |
Vested (in shares) | (452,182) | |
Vested, weighted average grant date fair value (in dollars per share) | $ 1.89 | |
Forfeited or expired (in shares) | 0 | |
Forfeited or expired, weighted average grant date fair value (in dollars per share) | $ 0 | |
Outstanding non-vested (in shares) | 420,628 | 709,805 |
Outstanding non-vested, weighted average grant date fair value (in dollars per share) | $ 2.69 | $ 1.92 |
Performance-based Restricted Stock Units [Member] | ||
Granted (in shares) | 125,000 | 0 |
Granted, weighted average grant date fair value (in dollars per share) | $ 3.26 | $ 0 |
Outstanding non-vested (in shares) | 125,000 | |
Performance-based Restricted Stock Units [Member] | The 2014 Plan [Member] | ||
Outstanding non-vested (in shares) | 0 | |
Outstanding non-vested, weighted average grant date fair value (in dollars per share) | $ 0 | |
Granted (in shares) | 125,000 | |
Granted, weighted average grant date fair value (in dollars per share) | $ 3.26 | |
Vested (in shares) | 0 | |
Vested, weighted average grant date fair value (in dollars per share) | $ 0 | |
Forfeited or expired (in shares) | 0 | |
Forfeited or expired, weighted average grant date fair value (in dollars per share) | $ 0 | |
Outstanding non-vested (in shares) | 125,000 | 0 |
Outstanding non-vested, weighted average grant date fair value (in dollars per share) | $ 3.26 | $ 0 |
Restricted Stock Units (RSUs) [Member] | ||
Outstanding non-vested (in shares) | 709,805 | 391,725 |
Outstanding non-vested, weighted average grant date fair value (in dollars per share) | $ 1.92 | $ 4.36 |
Vested (in shares) | (452,182) | (179,225) |
Vested, weighted average grant date fair value (in dollars per share) | $ 1.89 | $ 3.78 |
Forfeited or expired (in shares) | 0 | (222,500) |
Forfeited or expired, weighted average grant date fair value (in dollars per share) | $ 0 | $ 4.55 |
Outstanding non-vested (in shares) | 545,628 | 709,805 |
Outstanding non-vested, weighted average grant date fair value (in dollars per share) | $ 2.82 | $ 1.92 |
Note 12 - Treasury Stock Tran_2
Note 12 - Treasury Stock Transactions (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Sep. 29, 2020 | Sep. 25, 2020 | Jun. 02, 2020 | Jan. 01, 2022 | Jan. 02, 2021 | Nov. 12, 2021 | Jan. 13, 2021 |
Treasury Stock, Shares, Acquired (in shares) | 1,858,139 | 1,930,911 | |||||
Treasury Stock Acquired, Average Cost Per Share (in dollars per share) | $ 1.20 | $ 4.68 | |||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 10,100 | ||||||
Treasury Stock, Value, Acquired, Cost Method | $ 2,200 | $ 9,043 | $ 2,230 | ||||
Note Issued to Acquire Treasury Stock [Member] | |||||||
Notes Issued | $ 2,200 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | ||||||
Debt Instrument, Maturity Date | Aug. 10, 2023 | ||||||
Repayments of Subordinated Debt, Total | $ 2,200 | $ 2,200 | |||||
Maximum [Member] | |||||||
Stock Repurchase Program, Authorized Amount | $ 19,100 | $ 7,500 |
Note 14 - Segment Information -
Note 14 - Segment Information - Results of the Segments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Revenues | $ 203,875 | $ 150,409 |
Cost of services | 150,751 | 111,554 |
Gross profit | 53,124 | 38,855 |
Selling, general and administrative | 42,019 | 37,791 |
Depreciation and amortization of property and equipment | 1,007 | 1,065 |
Amortization of acquired intangible assets | 95 | 321 |
Remeasurement of acquisition-related contingent consideration | (1,713) | 0 |
Gain on sale of assets | (2,420) | 0 |
Operating income (loss) | 14,136 | (10,950) |
Total assets | 72,852 | 68,339 |
Capital expenditures | 1,576 | 460 |
Write-off of receivables and professional fees incurred related to arbitration | 0 | 8,397 |
Impairment of right of use assets and related costs | 0 | 2,231 |
Engineering [Member] | ||
Revenues | 66,172 | 57,715 |
Cost of services | 50,109 | 41,227 |
Gross profit | 16,063 | 16,488 |
Selling, general and administrative | 14,210 | 13,021 |
Depreciation and amortization of property and equipment | 521 | 638 |
Amortization of acquired intangible assets | 95 | 321 |
Remeasurement of acquisition-related contingent consideration | (1,713) | |
Gain on sale of assets | (2,420) | |
Operating income (loss) | 5,370 | (5,889) |
Total assets | 28,343 | 33,782 |
Capital expenditures | 481 | 26 |
Write-off of receivables and professional fees incurred related to arbitration | 8,397 | |
Impairment of right of use assets and related costs | 0 | |
Specialty Health Care [Member] | ||
Revenues | 98,495 | 60,481 |
Cost of services | 73,177 | 47,116 |
Gross profit | 25,318 | 13,365 |
Selling, general and administrative | 19,490 | 15,601 |
Depreciation and amortization of property and equipment | 373 | 319 |
Amortization of acquired intangible assets | 0 | 0 |
Remeasurement of acquisition-related contingent consideration | 0 | |
Gain on sale of assets | 0 | |
Operating income (loss) | 5,455 | (2,555) |
Total assets | 32,809 | 19,141 |
Capital expenditures | 563 | 36 |
Write-off of receivables and professional fees incurred related to arbitration | 0 | |
Impairment of right of use assets and related costs | 0 | |
Information Technology [Member] | ||
Revenues | 39,208 | 32,213 |
Cost of services | 27,465 | 23,211 |
Gross profit | 11,743 | 9,002 |
Selling, general and administrative | 8,319 | 9,169 |
Depreciation and amortization of property and equipment | 113 | 108 |
Amortization of acquired intangible assets | 0 | 0 |
Remeasurement of acquisition-related contingent consideration | 0 | |
Gain on sale of assets | 0 | |
Operating income (loss) | 3,331 | (275) |
Total assets | 8,676 | 7,498 |
Capital expenditures | 173 | 48 |
Write-off of receivables and professional fees incurred related to arbitration | 0 | |
Impairment of right of use assets and related costs | 0 | |
Corporate Segment [Member] | ||
Revenues | 0 | 0 |
Cost of services | 0 | 0 |
Gross profit | 0 | 0 |
Selling, general and administrative | 0 | 0 |
Depreciation and amortization of property and equipment | 0 | 0 |
Amortization of acquired intangible assets | 0 | 0 |
Remeasurement of acquisition-related contingent consideration | 0 | |
Gain on sale of assets | 0 | |
Operating income (loss) | 0 | (2,231) |
Total assets | 3,024 | 7,918 |
Capital expenditures | $ 359 | 350 |
Write-off of receivables and professional fees incurred related to arbitration | 0 | |
Impairment of right of use assets and related costs | $ 2,231 |
Note 14 - Segment Information_2
Note 14 - Segment Information - Revenues by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Revenues | $ 203,875 | $ 150,409 |
UNITED STATES | ||
Revenues | 186,169 | 126,238 |
CANADA | ||
Revenues | 9,578 | 15,310 |
PUERTO RICO | ||
Revenues | 5,237 | 5,702 |
SERBIA | ||
Revenues | $ 2,891 | $ 3,159 |
Note 14 - Segment Information_3
Note 14 - Segment Information - Total Assets by Geographic Area (Details) - USD ($) $ in Thousands | Jan. 01, 2022 | Jan. 02, 2021 |
Total assets | $ 72,852 | $ 68,339 |
UNITED STATES | ||
Total assets | 67,296 | 56,308 |
CANADA | ||
Total assets | 1,327 | 7,067 |
PUERTO RICO | ||
Total assets | 963 | 1,483 |
SERBIA | ||
Total assets | $ 3,266 | $ 3,481 |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 21.00% | 26.40% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Puerto Rico Department of Treasury [Member] | ||
Open Tax Year | 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 2.9 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | $ 8.6 | |
Open Tax Year | 2018 2019 2020 2021 | |
Foreign Tax Authority [Member] | Canada Revenue Agency [Member] | ||
Open Tax Year | 2017 2018 2019 2020 2021 |
Note 15 - Income Taxes - Income
Note 15 - Income Taxes - Income Tax Provision Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Federal statutory rate | 21.00% | 21.00% |
Tax expense on taxable (loss) income at federal statutory rate | $ 2,922 | $ (2,532) |
State and Puerto Rico income taxes, net of Federal income tax benefit | 519 | (535) |
Remeasurement of contingent consideration | (359) | 0 |
Intangible asset deferred tax liability true-up | 491 | 0 |
Foreign income tax rates | 89 | (21) |
Adjustments to prior year federal taxes | 46 | (53) |
Other | (12) | (201) |
Total income tax expense | 2,925 | (3,188) |
Domestic Tax Authority [Member] | ||
Permanent differences | (114) | 154 |
Foreign Tax Authority [Member] | ||
Permanent differences | $ (657) | $ 0 |
Note 15 - Income Taxes - Compon
Note 15 - Income Taxes - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Current | ||
Federal | $ 47 | $ (32) |
State and local | 45 | 174 |
Foreign | 292 | 382 |
Current Income Tax Expense (Benefit), Total | 384 | 524 |
Deferred | ||
Federal | 2,152 | (2,844) |
State | 612 | (851) |
Foreign | (223) | (17) |
Deferred Income Tax Expense (Benefit), Total | 2,541 | (3,755) |
Total income tax expense | 2,925 | (3,188) |
United States | 10,880 | (13,898) |
Foreign jurisdictions | 3,034 | 1,841 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | $ 13,914 | $ (12,057) |
Note 15 - Income Taxes - Unreco
Note 15 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Gross increases: tax positions in prior period | $ 0 | $ 0 |
Gross increases: tax positions in current period | 1,196 | 0 |
Balance | 0 | |
Balance | $ 1,196 | $ 0 |
Note 15 - Income Taxes - Deferr
Note 15 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 01, 2022 | Jan. 02, 2021 |
Deferred tax assets: | ||
Allowance for doubtful accounts | $ 297 | $ 455 |
Federal and state net operating loss carryforward | 1,153 | 2,634 |
Reserves and accruals | 800 | 881 |
Lease liability | 844 | 1,174 |
Other | 314 | 318 |
Total deferred tax assets | 3,408 | 5,462 |
Deferred tax liabilities: | ||
Acquisition amortization, net | (1,428) | (716) |
Prepaid expense deferral | (552) | (602) |
Bonus depreciation to be reversed | (392) | (280) |
Right of use assets | (501) | (564) |
Canada deferred tax liability, net | (142) | (365) |
Total deferred tax liabilities | (3,015) | (2,527) |
Total deferred tax assets (liabilities), net | $ 393 | $ 2,935 |
Note 16 - Contingencies (Detail
Note 16 - Contingencies (Details Textual) $ in Millions | Jan. 01, 2022USD ($) |
Estimated Litigation Liability | $ 2.9 |
Class Action Suit for Unpaid Overtime Wages to Travel Nurses [Member] | |
Estimated Litigation Liability | 1.6 |
Payments for Legal Settlements | $ 1.6 |
Note 17 - Retirement Plans (Det
Note 17 - Retirement Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Deferred Compensation Arrangement with Individual, Contributions by Employer | $ 721 | $ 217 |
Note 18 - Commitments (Details
Note 18 - Commitments (Details Textual) - USD ($) $ in Thousands | Jan. 01, 2021 | Jan. 01, 2022 | Jan. 02, 2021 |
Operating Lease, Impairment Loss | $ 0 | $ 2,231 | |
COVID-19 [Member] | |||
Operating Lease, Impairment Loss | $ 1,900 | ||
Operating Lease, Right-of-use Asset, Write-off | $ 300 |
Note 18 - Commitments - Lease E
Note 18 - Commitments - Lease Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Operating lease cost | $ 1,891 | $ 2,524 |
Amortization of right of use assets | 401 | 366 |
Finance lease cost, Interest on lease liabilities | 9 | 10 |
Total finance lease cost | $ 410 | $ 376 |
Note 18 - Commitments - Cash Fl
Note 18 - Commitments - Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 01, 2022 | Jan. 02, 2021 | |
Operating cash flows from operating leases | $ 1,957 | $ 2,589 |
Operating cash flows from finance leases | 9 | 7 |
Financing cash flows from finance leases | 415 | 402 |
Operating leases | 830 | 1,257 |
Finance leases | $ 1,002 | $ 258 |
Note 18 - Commitments - Balance
Note 18 - Commitments - Balance Sheet Information (Details) - USD ($) $ in Thousands | Jan. 01, 2022 | Jan. 02, 2021 |
Operating lease right of use assets | $ 1,877 | $ 2,409 |
Operating right of use liability - current | (1,502) | (1,886) |
Operating right of use liability - non-current | (1,631) | (2,641) |
Total operating lease liabilities | (3,133) | (4,527) |
Property and equipment - (right of use assets) | 1,367 | 1,140 |
Accumulated depreciation | (375) | (746) |
Finance lease liability - current | (437) | (247) |
Finance lease liability - non-current | (502) | (106) |
Total finance lease liabilities | $ (939) | $ (353) |
Operating leases (Year) | 1 year 9 months 18 days | 2 years 10 days |
Finance leases (Year) | 2 years 4 months 2 days | 1 year 5 months 12 days |
Operating leases | 3.32% | 4.06% |
Finance leases | 1.15% | 2.63% |
Other Current Assets [Member] | ||
Operating right of use liability - current | $ (1,502) | $ (1,886) |
Property and equipment, net | 992 | 394 |
Other Current Liabilities [Member] | ||
Finance lease liability - current | $ (437) | $ (247) |
Note 18 - Commitments - Maturit
Note 18 - Commitments - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Jan. 01, 2022 | Jan. 02, 2021 |
2022, operating leases | $ 1,579 | |
2022, finance leases | 446 | |
2023, operating leases | 1,097 | |
2023, finance leases | 337 | |
2024, operating leases | 396 | |
2024, finance leases | 168 | |
2025, operating leases | 133 | |
2025, finance leases | 0 | |
Thereafter, operating leases | 50 | |
Thereafter, finance leases | 0 | |
Total lease payments, operating leases | 3,255 | |
Total lease payments, finance leases | 951 | |
Less: imputed interest, operating leases | (122) | |
Less: imputed interest, finance leases | (12) | |
Total, operating leases | 3,133 | $ 4,527 |
Total, finance leases | $ 939 | $ 353 |
Note 20 - Stockholder Rights _2
Note 20 - Stockholder Rights Plan (Details Textual) - Right [Member] | May 22, 2020$ / sharesshares |
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 |
Number of Units Called by Each Right (in shares) | 0.01 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 5.60 |