Welcome to our dedicated page for Rcm Tech news (Ticker: RCMT), a resource for investors and traders seeking the latest updates and insights on Rcm Tech stock.
RCM Technologies, Inc. (NasdaqGM: RCMT) is regularly featured in corporate news for its role as a business and technology solutions provider focused on enhancing customer operational performance. Company press releases highlight activity across its three reporting segments—Specialty Health Care, Engineering and Life Sciences, Data and Solutions—as well as broader service areas such as Health Care, Aerospace & Defense, Process & Industrial, Life Sciences and Data & Solutions.
News coverage for RCMT commonly includes quarterly and annual earnings announcements. These releases provide detail on revenue, gross profit, operating income, net income and segment performance, along with reconciliations of GAAP results to non-GAAP metrics such as Adjusted operating income, EBITDA, Adjusted EBITDA, Adjusted net income and Adjusted diluted net earnings per share. Management commentary in these reports often discusses segment trends, backlog in Engineering, momentum in Healthcare and the company’s expectations for future periods, framed within the context of forward-looking statements.
Other frequent news items involve conference call announcements, where RCM schedules teleconferences to discuss financial results for specific reporting periods. The company also issues releases on corporate developments, such as its addition to the Russell 3000 and Russell 2000 Indexes and the expansion of its Human Capital Management activities through RCM HCM Solutions, including a value-added reseller program for the UKG Ready suite.
Investors and followers of RCMT news can use this page to review historical and recent press releases related to financial performance, segment updates, index membership, auditor changes disclosed via Form 8-K, and strategic initiatives in areas like workforce technology. Regularly reviewing these updates can help readers understand how RCM’s Specialty Health Care, Engineering and Life Sciences, Data and Solutions segments contribute to overall results and how the company positions itself in its stated end markets.
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.
RCM Technologies (RCMT) announced on May 22, 2020, the adoption of a limited duration stockholder rights plan aimed at protecting its shareholders amidst a 59% decline in stock price year-to-date. Each shareholder will receive one right for each common share, exercisable upon acquisition of 10% or more of the stock by any party not approved by RCM's Board. The plan is designed to promote fair treatment and prevent hostile takeovers, with rights expiring on May 22, 2021, unless redeemed earlier. The Board believes that the stock is currently undervalued due to market conditions.
RCM Technologies, Inc. (NasdaqGM: RCMT) will hold a conference call on May 12, 2020, at 11:00 AM ET to discuss its financial results for the 13-week period ending March 28, 2020. The teleconference can be accessed by domestic callers at (866) 578-1005 and international callers at (713) 936-6995. RCM provides business and technology solutions aimed at enhancing operational performance across commercial and government sectors, along with specialty healthcare services. More information can be found on their website.