Rcm Tech Stock Price, News & Analysis

RCM Technologies, Inc. (NasdaqGM: RCMT) reported financial results for the 13-week period ending April 3, 2021, with revenue of $44.5 million, a slight 1.1% decrease from $45.0 million in the same period last year. Gross profit remained steady at $10.9 million. The company achieved a GAAP operating income of $1.4 million compared to a $7.8 million loss in the prior year. RCM reported a net income of $1.0 million, or $0.08 per diluted share, contrasting with a $5.9 million loss previously. Adjusted EBITDA increased to $1.8 million from $0.6 million.

RCM Technologies, Inc. (NasdaqGM: RCMT) will hold a conference call on May 14, 2021, at 11:00 a.m. ET to discuss the financial results for the period ending April 3, 2021. Domestic callers can dial (866) 578-1005, while international callers should use (713) 936-6995. RCM Technologies provides business and technology solutions aimed at enhancing operational performance for both commercial and government sectors, along with specialty healthcare services. The company's offices span major cities across North America and Serbia.

RCM Technologies, Inc. (NasdaqGM: RCMT) reported a revenue of $41.2 million for the fourteen weeks ended January 2, 2021, representing a 15.2% decrease compared to the prior-year period. Gross profit also declined by 15.5% to $10.7 million. For the fifty-three week period, revenue fell 21.3% to $150.4 million, with gross profit decreasing 20.0% to $38.9 million. The company faced a GAAP net loss of $1.7 million for the quarterly period and $8.9 million for the year, contrasting with prior net incomes. Executives expressed optimism about future adjusted EBITDA growth.

RCM Technologies, Inc. (NasdaqGM: RCMT) will host a conference call on April 2, 2021, at 10:30 a.m. ET to discuss financial results for the fourteen and fifty-three week periods ending January 2, 2021. The call can be accessed via phone: (866) 578-1005 for domestic callers and (713) 936-6995 for international participants. RCM Technologies provides business and technology solutions to enhance operational performance across commercial and government sectors, including healthcare. For more details, visit www.rcmt.com.

RCM Technologies, Inc. (NasdaqGM: RCMT) announced significant project acquisitions aimed at producing higher grades of ethanol, including USP and GNS grades, to meet surging sanitizer demand due to the Covid-19 pandemic. The company's division, Thermal Kinetics, has been contracted by Al-Corn Clean Fuels to expand its facility for producing 20 million gallons per year of USP Grade ethanol. With additional projects underway, RCM is positioned to leverage its engineering capabilities and continued market growth in the sanitizer-grade ethanol sector, expected to expand from $1.2 billion in 2019 to $2.1 billion by 2027.

RCM Technologies (RCMT) reported Q3 financial results, showing a 21.6% decline in revenue to $31.6 million, down from $40.3 million in Q3 2019. Gross profit also fell 16.9% to $8.8 million. The company faced a GAAP operating loss of $0.2 million compared to a profit of $0.7 million in the same period last year. For the first nine months of 2020, revenue decreased 23.4% to $109.2 million, with a net loss of $7.2 million, or $0.58 per diluted share. The company did generate $6.0 million in cash flow from operations.

RCM Technologies, Inc. (NasdaqGM: RCMT) will hold a conference call on November 10, 2020, at 11:00 a.m. Eastern time to discuss its financial results for the thirteen and thirty-nine week periods ending September 26, 2020. The call can be accessed via domestic dial-in at (866) 578-1005 and international at (713) 936-6995. RCM provides advanced engineering, technology solutions, and healthcare services to commercial and government sectors, with offices across North America. For further details, visit www.rcmt.com.

RCM Technologies, Inc. (RCMT) reported significant financial declines for the thirteen and twenty-six week periods ended June 27, 2020. Revenue fell by 35.6% to $32.7 million for the recent quarter, while gross profit decreased by 33.6% to $8.5 million. The company recorded a GAAP operating loss of $1.2 million and a net loss of $1.0 million, compared to profits in the prior year. For the six-month period, revenue dropped 24.1% to $77.7 million, and the net loss stood at $6.9 million. Despite these results, RCM reduced its net debt by 51%, to $15.7 million.

RCM Technologies, Inc. (RCMT) announced a stock purchase agreement allowing the Company and its executives to buy 2,958,139 shares from a large shareholder, with 1,858,139 shares being retired. The Company financed its share purchase through a $2,229,767 unsecured promissory note at a 9% interest rate. Remaining shares were acquired by executives Bradley S. Vizi, Kevin D. Miller, and Roger H. Ballou for a total of $1,320,000 in cash. Management emphasized that the deal is accretive to shareholders and positions the Company for stronger future performance.