RCM Technologies Inc - RCMT STOCK NEWS

RCM Technologies, Inc. (NasdaqGM: RCMT) reported robust financial results for the periods ending July 3, 2021. Revenue reached $48.9 million for the thirteen-week period, a 49.9% increase year-over-year, and $93.5 million for the twenty-six weeks, reflecting a 20.3% increase. Gross profit also rose significantly, with $12.3 million for the current quarter and $23.1 million for the half-year. The company turned a net income of $1.3 million or $0.11 per diluted share in the quarter, up from a loss last year. Cash flow from operations was strong at $15.3 million.

RCM Technologies, Inc. (NasdaqGM: RCMT) announced the appointment of two key executives to strengthen its leadership: Tina Ciocca as Executive Vice President of the Aerospace Division, and Peter Grossmann as Senior Vice President of the Energy Services Division. Both executives bring extensive industry experience, with Ciocca previously leading Butler America Inc., and Grossmann having over 25 years at Siemens. The company is seeing increased capital spending from clients as it emerges from the pandemic, positioning RCM for growth and enhanced operational performance.

RCM Technologies, Inc. (RCMT) will hold a conference call on August 13, 2021, at 11:00 a.m. ET to discuss its financial results for the thirteen and twenty-six week periods ending July 3, 2021. Domestic callers can dial (866) 578-1005, and international callers can reach (713) 936-6995. RCM specializes in providing technology and engineering solutions across commercial and government sectors, focusing on enhancing operational performance.

RCM Technologies (RCMT) has successfully completed an Engineer-Procure-Construct (EPC) project, delivering a new high-voltage substation for American Electric Power (AEP) in Texas. The Esperanza Substation features a 138kV three-breaker ring bus and two 28.8 MVAR capacitor banks, built in just 11 months. This project also included a 0.75-mile double-circuit 138kV line, connecting the substation to the existing transmission network, supporting a 50MW load for local industrial clients. RCM's integrated construction approach ensured timely completion and cost efficiency.

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.