{"id":756803,"date":"2023-05-09T18:47:06","date_gmt":"2023-05-09T22:47:06","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/rcm-technologies-inc-announces-first-quarter-results-3\/"},"modified":"2023-05-09T18:47:06","modified_gmt":"2023-05-09T22:47:06","slug":"rcm-technologies-inc-announces-first-quarter-results-3","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rcm-technologies-inc-announces-first-quarter-results-3\/","title":{"rendered":"RCM Technologies, Inc. Announces First-Quarter Results"},"content":{"rendered":"
\n

PENNSAUKEN, N.J., May 09, 2023 (GLOBE NEWSWIRE) — RCM Technologies, Inc. (NasdaqGM: RCMT), 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, specialty health care, and information technology services, today announced financial results for the thirteen weeks ended April 1, 2023.<\/p>\n

RCM Technologies reported revenue of $67.1 million for the thirteen weeks ended April 1, 2023 (the current period), a decrease of 18.1% compared to $82.0 million for the thirteen weeks ended April 2, 2022 (the comparable prior-year period). Gross profit was $19.0 million for the current period, an 18.8% decrease compared to $23.4 million for the comparable prior-year period.\u00a0 The Company experienced GAAP operating income of $5.7 million for the current period compared to $9.0 million for the comparable prior-year period.\u00a0 The Company experienced GAAP net income of $3.8 million, or $0.41 per diluted share, for the current period compared to $6.5 million, or $0.62 per diluted share, for the comparable prior-year period. The Company experienced adjusted EBITDA (non-GAAP) of $5.6 million for the current period compared to $9.3 million for the comparable prior-year period.<\/p>\n

Bradley Vizi, Executive Chairman of RCM Technologies, commented, \u201cRCM started 2023 slower than we had expected, primarily due to project timing and program ramp-up in our Engineering segment. The cadence of activity has increased as we move through the first half of the year, allowing us to retain our offensive posture as we continue to build on the foundation carefully laid in each of our business units.\u201d<\/p>\n

Kevin Miller, Chief Financial Officer of RCM Technologies, commented, \u201cAs we expand our base, we believe that high return capital projects remain abundant both in the form of internal growth projects and bolt-on acquisitions that allow us to leverage the RCM platform.\u201d<\/p>\n

\n
\n
\n Conference Call<\/u>
\n <\/em>
\n <\/strong>
\n
On Wednesday, May 10, 2023, RCM Technologies will host a conference call to discuss these results. The call will begin at 12:00 p.m. Eastern Time. The dial-in number is (800) 285-6670.<\/p>\n

\n
\n
\n About RCM<\/u>
\n <\/em>
\n <\/strong>
\n
RCM Technologies, Inc. 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 information technology and engineering services. RCM is an innovative leader in delivering these solutions to commercial and government sectors. RCM is also a provider of specialty healthcare services to major health care institutions and educational facilities. RCM’s offices are located in major metropolitan centers throughout North America and Serbia. Additional information can be found at www.rcmt.com<\/u><\/a>.<\/p>\n

The statements contained in this release that are not purely historical are forward-looking statements within the Private Securities Litigation Reform Act of 1995. They are subject to various risks, uncertainties, and other factors that could cause the Company\u2019s actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These statements often include words such as \u201cmay,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201ccontinue,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cintend,\u201d \u201cbelieve,\u201d \u201cplan,\u201d \u201cseek,\u201d \u201ccould,\u201d \u201ccan,\u201d \u201cshould,\u201d \u201care confident\u201d or similar expressions. In addition, statements that are not historical should also be considered forward-looking statements. These statements are based on assumptions that we have made in light of our experience in the industry, and our perceptions of historical trends, current conditions, expected future developments, and other factors we believe are appropriate in these circumstances. Forward-looking statements include, but are not limited to, those relating to demand for the Company\u2019s services, expectations regarding our future revenues and other financial results, our pipeline, and potential project wins, and our expectations for investment and growth in our business. Such statements are based on current expectations that involve several known and unknown risks, uncertainties, and other factors, which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. Risk, uncertainties, and other factors may emerge from time to time that could cause the Company\u2019s actual results to differ from those indicated by the forward-looking statements. Investors are directed to consider such risks, uncertainties, and other factors described in documents filed by the Company with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. The Company assumes no obligation (and expressly disclaims any such obligation) to update any forward-looking statements contained in this release as a result of new information or future events or developments, except as may be required by law.<\/p>\n

\n Tables to Follow<\/strong>\n <\/p>\n

\n \n <\/p>\n

\n RCM Technologies, Inc.<\/strong>
\n
\n Condensed Consolidated Statements of Operations<\/strong>
\n
\n (Unaudited) <\/strong>
\n
\n (In Thousands, Except Per Share Amounts)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Thirteen Weeks Ended <\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\n April 1,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n April 2,<\/strong>
\n
\n 2022<\/strong>\n <\/td>\n<\/tr>\n
Revenue<\/td>\n$67,124<\/td>\n\u00a0<\/td>\n$81,961<\/td>\n<\/tr>\n
Cost of services<\/td>\n48,100<\/td>\n\u00a0<\/td>\n58,541<\/td>\n<\/tr>\n
Gross profit<\/td>\n19,024<\/td>\n\u00a0<\/td>\n23,420<\/td>\n<\/tr>\n
Selling, general and administrative<\/td>\n13,396<\/td>\n\u00a0<\/td>\n14,147<\/td>\n<\/tr>\n
Depreciation and amortization of property and equipment<\/td>\n271<\/td>\n\u00a0<\/td>\n238<\/td>\n<\/tr>\n
Amortization of acquired intangible assets<\/td>\n45<\/td>\n\u00a0<\/td>\n–<\/td>\n<\/tr>\n
Gain on sale of assets<\/td>\n(395<\/td>\n)<\/td>\n–<\/td>\n<\/tr>\n
Operating income<\/td>\n5,707<\/td>\n\u00a0<\/td>\n9,035<\/td>\n<\/tr>\n
Other expense, net<\/td>\n407<\/td>\n\u00a0<\/td>\n52<\/td>\n<\/tr>\n
Income before income taxes<\/td>\n5,300<\/td>\n\u00a0<\/td>\n8,983<\/td>\n<\/tr>\n
Income tax expense<\/td>\n1,463<\/td>\n\u00a0<\/td>\n2,463<\/td>\n<\/tr>\n
Net income<\/td>\n$3,837<\/td>\n\u00a0<\/td>\n$6,520<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted net earnings per share data<\/td>\n$0.41<\/td>\n\u00a0<\/td>\n$0.62<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n RCM Technologies, Inc.<\/strong>
\n
\n Summary Consolidated Selected Balance Sheet Data<\/strong>
\n
\n (In Thousands)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n April 1,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n December 31,<\/strong>
\n
\n 2022<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n (Unaudited)<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n$1,825<\/td>\n\u00a0<\/td>\n$339<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable, net<\/td>\n$58,809<\/td>\n\u00a0<\/td>\n$50,762<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n$68,806<\/td>\n\u00a0<\/td>\n$59,017<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n$97,528<\/td>\n\u00a0<\/td>\n$87,964<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n$43,429<\/td>\n\u00a0<\/td>\n$40,424<\/td>\n\u00a0<\/td>\n<\/tr>\n
Borrowings under line of credit<\/td>\n$19,151<\/td>\n\u00a0<\/td>\n$8,783<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n$69,016<\/td>\n\u00a0<\/td>\n$56,002<\/td>\n\u00a0<\/td>\n<\/tr>\n
Treasury stock<\/td>\n($52,004<\/td>\n)<\/td>\n($43,820<\/td>\n)<\/td>\n<\/tr>\n
Stockholders\u2019 equity<\/td>\n$28,512<\/td>\n\u00a0<\/td>\n$31,962<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n

\n RCM Technologies, Inc.<\/strong>
\n
\n Supplemental Operating Results on a Non-GAAP Basis<\/strong>
\n
\n (Unaudited)<\/strong>
\n
\n (In Thousands)<\/strong>\n <\/p>\n

The following non-GAAP measures, which adjust for the categories of expenses described below, are non-GAAP financial measures.\u00a0 Our management believes that these non-GAAP financial measures (\u201cAdjusted operating income,\u201d \u201cEBITDA\u201d and \u201cAdjusted EBITDA\u201d) are useful information for investors, shareholders, and other stakeholders of our Company in gauging our results of operations on an ongoing basis and to enhance investors\u2019 overall understanding of our current financial performance and period-to-period comparisons.\u00a0 Adjusted operating income, EBITDA and Adjusted EBITDA should not be considered alternatives to net income as an indicator of performance.\u00a0 In addition, Adjusted operating income, EBITDA and Adjusted EBITDA do not take into account changes in certain assets and liabilities and interest and income taxes that can affect cash flows.\u00a0 We do not intend the presentation of these non-GAAP measures to be considered in isolation or as a substitute for results prepared in accordance with GAAP. These non-GAAP measures should be read-only in conjunction with our consolidated financial statements prepared in accordance with GAAP.<\/p>\n

The following unaudited table presents the Company\u2019s GAAP net income and the corresponding adjustments used to calculate Adjusted operating income, EBITDA and Adjusted EBITDA for the thirteen weeks ended April 1, 2023 and April 2, 2022.\u00a0<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Thirteen Weeks Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n April 1,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n April 2,
2022<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
GAAP net income<\/td>\n$3,837<\/td>\n\u00a0<\/td>\n$6,520<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax expense<\/td>\n1,463<\/td>\n\u00a0<\/td>\n2,463<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense, net<\/td>\n360<\/td>\n\u00a0<\/td>\n97<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation of property and equipment<\/td>\n271<\/td>\n\u00a0<\/td>\n238<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization of acquired intangible assets<\/td>\n45<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
EBITDA (non-GAAP)<\/td>\n$5,976<\/td>\n\u00a0<\/td>\n$9,318<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjustments<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gain on sale of assets<\/td>\n(395<\/td>\n)<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss (gain) on foreign currency transactions<\/td>\n47<\/td>\n\u00a0<\/td>\n(45<\/td>\n)<\/td>\n<\/tr>\n
Adjusted EBITDA (non-GAAP)<\/td>\n$5,628<\/td>\n\u00a0<\/td>\n$9,273<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
RCM Technologies, Inc.<\/strong>
\n
\n Summary of Selected Income Statement Data<\/strong>
\n
\n (Unaudited)<\/strong>
\n
\n (In Thousands)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Thirteen Weeks Ended April 1, 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nSpecialty
Health Care<\/td>\n		\u00a0<\/td>\nEngineering<\/td>\n\u00a0<\/td>\nLife Sciences
and IT<\/td>\n		\u00a0<\/td>\n\n
Consolidated<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue<\/td>\n$39,130<\/td>\n\u00a0<\/td>\n$18,490<\/td>\n\u00a0<\/td>\n$9,504<\/td>\n\u00a0<\/td>\n$67,124<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of services<\/td>\n27,458<\/td>\n\u00a0<\/td>\n14,444<\/td>\n\u00a0<\/td>\n6,198<\/td>\n\u00a0<\/td>\n48,100<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n$11,672<\/td>\n\u00a0<\/td>\n$4,046<\/td>\n\u00a0<\/td>\n$3,306<\/td>\n\u00a0<\/td>\n$19,024<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit margin<\/td>\n29.8<\/td>\n%<\/td>\n21.9<\/td>\n%<\/td>\n34.8<\/td>\n%<\/td>\n28.3<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Thirteen Weeks Ended April 2, 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nSpecialty
Health Care<\/td>\n		\u00a0<\/td>\nEngineering<\/td>\n\u00a0<\/td>\nLife Sciences
and IT<\/td>\n		\u00a0<\/td>\n\n
Consolidated<\/td>\n		\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue<\/td>\n$52,184<\/td>\n\u00a0<\/td>\n$19,898<\/td>\n\u00a0<\/td>\n$9,879<\/td>\n\u00a0<\/td>\n$81,961<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of services<\/td>\n37,183<\/td>\n\u00a0<\/td>\n14,664<\/td>\n\u00a0<\/td>\n6,694<\/td>\n\u00a0<\/td>\n58,541<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n$15,001<\/td>\n\u00a0<\/td>\n$5,234<\/td>\n\u00a0<\/td>\n$3,185<\/td>\n\u00a0<\/td>\n$23,420<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit margin<\/td>\n28.7<\/td>\n%<\/td>\n26.3<\/td>\n%<\/td>\n32.2<\/td>\n%<\/td>\n28.6<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
RCM Technologies, Inc.<\/strong>
\n
\n Condensed Consolidated Statements of Cash Flows<\/strong>
\n
\n (Unaudited)<\/strong>
\n
\n (In Thousands)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Thirteen Weeks Ended <\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n April 1,<\/strong>
\n
\n 2023<\/strong>\n <\/td>\n		\u00a0<\/td>\n\n April 2,
2022<\/strong>\n <\/td>\n		\u00a0<\/td>\n<\/tr>\n
Net income<\/td>\n$3,837<\/td>\n\u00a0<\/td>\n$6,520<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjustments to reconcile net income to cash used in operating activities<\/td>\n703<\/td>\n\u00a0<\/td>\n63<\/td>\n\u00a0<\/td>\n<\/tr>\n
Changes in operating assets and liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable<\/td>\n(8,035<\/td>\n)<\/td>\n(10,214<\/td>\n)<\/td>\n<\/tr>\n
Prepaid expenses and other current assets<\/td>\n960<\/td>\n\u00a0<\/td>\n91<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net of transit accounts receivable and payable<\/td>\n1,472<\/td>\n\u00a0<\/td>\n521<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable and accrued expenses<\/td>\n(2,196<\/td>\n)<\/td>\n(974<\/td>\n)<\/td>\n<\/tr>\n
Accrued payroll and related costs<\/td>\n2,404<\/td>\n\u00a0<\/td>\n5,440<\/td>\n\u00a0<\/td>\n<\/tr>\n
Right of use liabilities<\/td>\n(348<\/td>\n)<\/td>\n117<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes payable<\/td>\n141<\/td>\n\u00a0<\/td>\n1,824<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred revenue<\/td>\n(310<\/td>\n)<\/td>\n(922<\/td>\n)<\/td>\n<\/tr>\n
Deposits<\/td>\n11<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total adjustments<\/td>\n(5,198<\/td>\n)<\/td>\n(4,052<\/td>\n)<\/td>\n<\/tr>\n
Net cash (used in) provided by operating activities<\/td>\n(1,361<\/td>\n)<\/td>\n2,468<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash used in investing activities<\/td>\n(332<\/td>\n)<\/td>\n(217<\/td>\n)<\/td>\n<\/tr>\n
Net cash provided by (used in) financing activities<\/td>\n2,945<\/td>\n\u00a0<\/td>\n(1,612<\/td>\n)<\/td>\n<\/tr>\n
Effect of exchange rate changes on cash and cash equivalents<\/td>\n234<\/td>\n\u00a0<\/td>\n(15<\/td>\n)<\/td>\n<\/tr>\n
Increase in cash and cash equivalents<\/td>\n$1,486<\/td>\n\u00a0<\/td>\n$624<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n
\n RCM Technologies, Inc.<\/strong>\n <\/td>\nTel: 856.356.4500<\/td>\n\n
\n Corporate Contacts:<\/u>
\n <\/strong>\n <\/td>\n<\/tr>\n
2500 McClellan Avenue<\/td>\nFax: 856.356.4600<\/td>\n\n Bradley S. Vizi<\/strong>\n <\/td>\n<\/tr>\n
Pennsauken, NJ 08109<\/td>\ninfo@rcmt.com<\/td>\n\n
\n Executive Chairman <\/u>
\n <\/em>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\nwww.rcmt.com<\/td>\n\n Kevin D. Miller<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n
\n Chief Financial Officer<\/u>
\n <\/em>\n <\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PENNSAUKEN, N.J., May 09, 2023 (GLOBE NEWSWIRE) — RCM Technologies, Inc. (NasdaqGM: RCMT), 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, specialty health care, and information technology services, today announced financial results for the thirteen weeks ended April 1, 2023. RCM Technologies reported revenue of $67.1 million for the thirteen weeks ended April 1, 2023 (the current period), a decrease of 18.1% compared to $82.0 million for the thirteen weeks ended April 2, 2022 (the comparable prior-year period). Gross profit was $19.0 million for the current period, an 18.8% decrease compared to $23.4 million for the comparable prior-year period.\u00a0 The Company … <\/p>\n

Continue reading “RCM Technologies, Inc. Announces First-Quarter Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-756803","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRCM Technologies, Inc. Announces First-Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rcm-technologies-inc-announces-first-quarter-results-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RCM Technologies, Inc. Announces First-Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PENNSAUKEN, N.J., May 09, 2023 (GLOBE NEWSWIRE) — RCM Technologies, Inc. (NasdaqGM: RCMT), 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, specialty health care, and information technology services, today announced financial results for the thirteen weeks ended April 1, 2023. RCM Technologies reported revenue of $67.1 million for the thirteen weeks ended April 1, 2023 (the current period), a decrease of 18.1% compared to $82.0 million for the thirteen weeks ended April 2, 2022 (the comparable prior-year period). Gross profit was $19.0 million for the current period, an 18.8% decrease compared to $23.4 million for the comparable prior-year period.\u00a0 The Company … Continue reading "RCM Technologies, Inc. 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