crudeoil24
3 years ago
RCM Technologies, Inc. is a provider of business and technology solutions through the deployment of engineering, specialty health care and information technology services. The Company operates through three segments: Engineering, Specialty Health Care and Information Technology Services. Its Engineering segment provides engineering and design services, technical writing and digital documentation across marine, locomotive, transportation and aerospace markets, and engineering, procurement and construction management (EPC), as well as demand side management/energy conservation services. The specialty health care segment provides staffing solutions of health care professionals, nurses, paraprofessionals, physicians and therapists and teletherapy services. The Information Technology (IT), segment provides enterprise business solutions, application services, infrastructure solutions, life sciences solutions and other vertical specific offerings.
crudeoil24
3 years ago
RCM Technologies reported revenue of $82.0 million for the thirteen weeks ended April 2, 2022 (the current period), an 84.0% increase compared to $44.5 million for the thirteen weeks ended April 3, 2021 (the comparable prior-year period). Gross profit was $23.4 million for the current period, a 115.8% increase compared to $10.9 million for the comparable prior-year period. The Company experienced GAAP operating income of $9.0 million for the current period compared to $1.4 million for the comparable prior-year period. The Company experienced GAAP net income of $6.5 million, or $0.62 per diluted share, for the current period compared to $1.0 million, or $0.08 per diluted share, for the comparable prior-year period. The Company experienced adjusted EBITDA of $9.3 million for the current period compared to $1.8 million for the comparable prior-year period.
Bradley Vizi, Executive Chairman of RCM Technologies, commented, "RCM's first-quarter results demonstrated a good start to 2022. We continue to build on the strong foundation established and drive execution across our business units. We generated record profitability for the second-straight quarter, with adjusted EBITDA of $9.3 million, growing sequentially by 74% and 440% year-over-year. I want to thank the team for a job well done and their continued commitment to propelling RCM to the next level."