changed since. most are We COVID-XX. put impacted the we last To Like by about heavily segment. by Kevin. discuss impact need ago, to spoke we obviously in but implications perspective, the months companies, Thanks, has two the world
Herculean stress escalated. employees. was themes. non-billable I overarching When want first, staff very quickly throughout quickly of company We home. work safety to and the our moved part workforce transition is of occasionally to most COVID-XX effort. volume billable But of a working from the sheer priority Though and several of highest to accustomed a our our home, from required the suddenness our the
of company are the for entire our We new proud quickly adapting environment. to
the revenue all in is In our financial short-term, it performance. to As pertains three segments impacted.
cash is and sheet. now number our maximizing flow one right focus Our shrinking balance
vigilantly We the and managing are reduction and of accounts deferment debt receivable. reducing costs pursuing by aggressively
two while concerned, segment principles. aggressively same we the as need far to separately, are As each reductions applying cost consider
managed must the cash to the maximize while flow in the expense. First, harming These maximizing SG&A order second, utilization; two carefully in not overarching short-term, long-term. in themes company and be reducing
on staffing impact healthcare COVID-XX significant our segment. the most has had
City, QX twofold. quarter. Hawaii clients, another know, the pandemic, York way on closed abruptly in including our most and of of school staffing many March. record our segment was healthcare you well as impact New the But middle on to was its Before Chicago, of The
We would in lost revenue million school from billed otherwise that we $X QX. in approximately personnel have
$X in lost revenue this lost in gross million profit also We over QX. from
to addition for full payroll March. the of month incurred we costs normal certain In margins, our
help not revenue segment structure. we QX, furloughed its mandated After reduction, short-term to offset billable in To aggressively personnel fully non-billable close the reduced healthcare most for has our utilized. our that XXX% absorbing is direct cost staff of costs statutory have
healthcare rate XXX%. or are Our at utilization near running in
actions flex gain we on XXXX/XXXX enable reduced Today, basis. we structure to The schedule. while are million have confidence the down to reopening the more short-term, that annualized ramp on $X.X up allowing have we us taken school year, schools us the SG&A than an expense to by our cost over once
on to – have engineering material in segments. the healthcare as and inquiries demonstrated segments less As seen current both compared proposals. new business impact seen a neither slowing IT and Though to our a reduction COVID-XX of of a healthcare, COVID-XX, result group predictably assignments has
engineering pipeline, our challenging. than we the for substation work, have predict and electrical in challenging work more field the Visibility several usual. of significant beyond pent-up is QX expect we is opportunities to Though demand timing
and have IT both cost focused in reducing we structure also result, on a As our engineering segments.
room utilization We preserving for proposal focused ever, still are more driving the on preparation. while than
to hour minimize billable increasing to through bench hourly salaried the quotient furloughs, personnel. going are We to staff for senior direct and RIFs, converting great lengths
Consistent material reductions of with in the SG&A. are rest we company, making the
in in SG&A have under annualized basis, an XXXX. expenditures on expense significant addition possible. $X wherever SG&A IT, budgeted million we and reduction engineering eliminated delayed and of is expense For just previously This to
we have next cost debt the business. and be our reduction long-term will in summary, without two sacrificing quarters, In focus progress the the during primary made
to economic to business COVID to grow the RCM today’s a in making is company the post managing positioned world. is reality, entire sure aggressively team the committed While
this open prepared for will our concludes At This the time, remarks. we call questions.
