RCM Technologies, Inc. Announces Fourth Quarter and Fiscal Year 2024 Results
RCM Technologies (RCMT) has reported its Q4 and fiscal year 2024 results, showing mixed performance. Q4 revenue increased 8.3% to $76.9 million compared to $71.0 million in Q4 2023, while gross profit remained flat at $21.6 million. However, Q4 GAAP net income decreased to $2.9 million ($0.37 per diluted share) from $5.3 million ($0.65 per diluted share) year-over-year.
For fiscal year 2024, revenue grew 5.8% to $278.4 million, with gross profit up 4.0% to $79.8 million. Annual GAAP net income declined to $13.3 million ($1.68 per diluted share) from $16.8 million ($1.96 per diluted share) in 2023. Adjusted EBITDA for 2024 slightly decreased to $25.9 million compared to $26.6 million in the previous year.
RCM Technologies (RCMT) ha riportato i risultati del quarto trimestre e dell'anno fiscale 2024, mostrando una performance mista. I ricavi del quarto trimestre sono aumentati dell'8,3% a 76,9 milioni di dollari rispetto ai 71,0 milioni di dollari del quarto trimestre 2023, mentre l'utile lordo è rimasto stabile a 21,6 milioni di dollari. Tuttavia, l'utile netto GAAP del quarto trimestre è diminuito a 2,9 milioni di dollari (0,37 dollari per azione diluita) rispetto ai 5,3 milioni di dollari (0,65 dollari per azione diluita) dell'anno precedente.
Per l'anno fiscale 2024, i ricavi sono cresciuti del 5,8% a 278,4 milioni di dollari, con un utile lordo aumentato del 4,0% a 79,8 milioni di dollari. L'utile netto GAAP annuo è diminuito a 13,3 milioni di dollari (1,68 dollari per azione diluita) rispetto ai 16,8 milioni di dollari (1,96 dollari per azione diluita) del 2023. L'EBITDA rettificato per il 2024 è leggermente diminuito a 25,9 milioni di dollari rispetto ai 26,6 milioni di dollari dell'anno precedente.
RCM Technologies (RCMT) ha reportado sus resultados del cuarto trimestre y del año fiscal 2024, mostrando un rendimiento mixto. Los ingresos del cuarto trimestre aumentaron un 8.3% a 76.9 millones de dólares en comparación con 71.0 millones de dólares en el cuarto trimestre de 2023, mientras que la ganancia bruta se mantuvo plana en 21.6 millones de dólares. Sin embargo, la utilidad neta GAAP del cuarto trimestre disminuyó a 2.9 millones de dólares (0.37 dólares por acción diluida) desde 5.3 millones de dólares (0.65 dólares por acción diluida) en el año anterior.
Para el año fiscal 2024, los ingresos crecieron un 5.8% a 278.4 millones de dólares, con una ganancia bruta que aumentó un 4.0% a 79.8 millones de dólares. La utilidad neta GAAP anual disminuyó a 13.3 millones de dólares (1.68 dólares por acción diluida) desde 16.8 millones de dólares (1.96 dólares por acción diluida) en 2023. El EBITDA ajustado para 2024 disminuyó ligeramente a 25.9 millones de dólares en comparación con 26.6 millones de dólares del año anterior.
RCM Technologies (RCMT)는 2024 회계연도 4분기 및 연간 실적을 발표했으며, 혼합된 성과를 보여주었습니다. 4분기 매출은 8.3% 증가하여 7,690만 달러로, 2023년 4분기 7,100만 달러와 비교되었습니다. 그러나 총 이익은 2,160만 달러로 변동이 없었습니다. 반면, 4분기 GAAP 순이익은 작년 동기 5.3백만 달러(희석주당 0.65달러)에서 2.9백만 달러(희석주당 0.37달러)로 감소했습니다.
2024 회계연도 동안 매출은 5.8% 증가하여 2억 7,840만 달러에 달했으며, 총 이익은 4.0% 증가하여 7,980만 달러에 달했습니다. 연간 GAAP 순이익은 2023년 1,680만 달러(희석주당 1.96달러)에서 1,330만 달러(희석주당 1.68달러)로 감소했습니다. 2024년 조정 EBITDA는 전년의 2,660만 달러에 비해 2,590만 달러로 약간 감소했습니다.
RCM Technologies (RCMT) a publié ses résultats du quatrième trimestre et de l'exercice fiscal 2024, montrant une performance mitigée. Les revenus du quatrième trimestre ont augmenté de 8,3 % pour atteindre 76,9 millions de dollars par rapport à 71,0 millions de dollars au quatrième trimestre 2023, tandis que le bénéfice brut est resté stable à 21,6 millions de dollars. Cependant, le bénéfice net GAAP du quatrième trimestre a diminué à 2,9 millions de dollars (0,37 dollar par action diluée) contre 5,3 millions de dollars (0,65 dollar par action diluée) d'une année sur l'autre.
Pour l'exercice fiscal 2024, les revenus ont augmenté de 5,8 % pour atteindre 278,4 millions de dollars, avec un bénéfice brut en hausse de 4,0 % à 79,8 millions de dollars. Le bénéfice net GAAP annuel a diminué à 13,3 millions de dollars (1,68 dollar par action diluée) contre 16,8 millions de dollars (1,96 dollar par action diluée) en 2023. L'EBITDA ajusté pour 2024 a légèrement diminué à 25,9 millions de dollars par rapport à 26,6 millions de dollars l'année précédente.
RCM Technologies (RCMT) hat seine Ergebnisse für das vierte Quartal und das Geschäftsjahr 2024 veröffentlicht, die eine gemischte Leistung zeigen. Die Einnahmen im vierten Quartal stiegen um 8,3% auf 76,9 Millionen Dollar im Vergleich zu 71,0 Millionen Dollar im vierten Quartal 2023, während der Bruttogewinn bei 21,6 Millionen Dollar stagnierte. Allerdings sank der GAAP-Nettoeinkommen im vierten Quartal auf 2,9 Millionen Dollar (0,37 Dollar pro verwässerter Aktie) von 5,3 Millionen Dollar (0,65 Dollar pro verwässerter Aktie) im Vorjahr.
Für das Geschäftsjahr 2024 wuchsen die Einnahmen um 5,8% auf 278,4 Millionen Dollar, wobei der Bruttogewinn um 4,0% auf 79,8 Millionen Dollar stieg. Das jährliche GAAP-Nettoeinkommen fiel auf 13,3 Millionen Dollar (1,68 Dollar pro verwässerter Aktie) von 16,8 Millionen Dollar (1,96 Dollar pro verwässerter Aktie) im Jahr 2023. Das bereinigte EBITDA für 2024 sank leicht auf 25,9 Millionen Dollar im Vergleich zu 26,6 Millionen Dollar im Vorjahr.
- Q4 revenue increased 8.3% to $76.9 million
- Annual revenue grew 5.8% to $278.4 million
- Gross profit increased 4.0% to $79.8 million for FY2024
- Q4 net income declined 45.3% to $2.9 million
- Annual net income decreased 20.8% to $13.3 million
- Q4 adjusted EBITDA dropped 29.2% to $6.3 million
- Annual adjusted EBITDA decreased to $25.9 million from $26.6 million
Insights
RCM Technologies' Q4 and FY 2024 results present a mixed financial picture. While the company achieved revenue growth of
The most concerning aspect is the substantial drop in Q4 GAAP net income to
What's particularly noteworthy is that Q4 gross profit remained flat at
The stability in adjusted diluted EPS for the full year (
Management's comments about "strategic initiatives gaining traction" and having "forged the foundation for increased earnings power" suggest they view 2024 as a transitional year. However, without specific details on these initiatives or concrete guidance for 2025, investors should approach these statements with caution.
The divergence between growing revenue and declining profitability warrants close monitoring in upcoming quarters to determine whether this is a temporary situation or the beginning of a more persistent trend.
PENNSAUKEN, N.J., March 12, 2025 (GLOBE NEWSWIRE) -- RCM Technologies, Inc. (NasdaqGM: RCMT), a premier provider of solutions designed to enhance the operational performance of its customers through the deployment of advanced engineering, specialty health care, and information technology services, today announced financial results for the thirteen and fifty-two weeks ended December 28, 2024.
RCM Technologies reported revenue of
RCM Technologies reported revenue of
Bradley Vizi, Executive Chairman of RCM Technologies, commented, “2024 demonstrated substantial progress as many of our strategic initiatives gained traction heading into the new year.”
Kevin Miller, Chief Financial Officer of RCM Technologies, commented, “As we look to 2025, we believe we have forged the foundation for increased earnings power.”
Conference Call
On Thursday, March 13, 2025, RCM Technologies will host a conference call to discuss these results. The call will begin at 11:30 a.m. Eastern Time. The dial-in number is (888) 272-8703.
About RCM
RCM Technologies (NasdaqGM: RCMT) is a business and technology solutions provider with world-class talent in key market segments. We help design, build, and enable the Industries of Tomorrow, Today. Operating at the intersection of resources, critical infrastructure and modernization of industries, RCM is a provider of services in Health Care, Engineering, Aerospace & Defense, Process & Industrial, Life Sciences and Data & Solutions. www.rcmt.com.
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’s 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 “may,” “will,” “expect,” “anticipate,” “continue,” “estimate,” “project,” “intend,” “believe,” “plan,” “seek,” “could,” “can,” “should,” “are confident” 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’s services, expectations regarding our future revenues and other financial results, such as cash flows, 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’s 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.
Tables to Follow
| RCM Technologies, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In Thousands, Except Share and Per Share Amounts) | ||||||
| Thirteen Weeks Ended | ||||||
| December 28, 2024 | December 30, 2023 | |||||
| Revenue | ||||||
| Cost of services | 55,343 | 49,397 | ||||
| Gross profit | 21,569 | 21,631 | ||||
| Selling, general and administrative | 16,025 | 13,403 | ||||
| Depreciation and amortization of property and equipment | 407 | 276 | ||||
| Amortization of acquired intangible assets | - | 46 | ||||
| Impairment of intangible assets | 547 | - | ||||
| Potential stock issuance and financing transactions | 64 | - | ||||
| Remeasurement of contingent consideration | (1,759 | ) | - | |||
| Gain on sale of assets | - | (395 | ) | |||
| Operating income | 6,285 | 7,906 | ||||
| Other expense, net | 516 | 532 | ||||
| Income before income taxes | 5,769 | 7,374 | ||||
| Income tax expense | 2,902 | 2,119 | ||||
| Net income | ||||||
| Diluted net earnings per share data | ||||||
| Diluted weighted average shares outstanding | 7,733,142 | 8,142,184 | ||||
| Fifty-Two Weeks Ended | ||||||
| December 28, 2024 | December 30, 2023 | |||||
| Revenue | ||||||
| Cost of services | 198,602 | 186,541 | ||||
| Gross profit | 79,778 | 76,696 | ||||
| Selling, general and administrative | 56,787 | 52,185 | ||||
| Depreciation and amortization of property and equipment | 1,419 | 1,032 | ||||
| Amortization of acquired intangible assets | 136 | 182 | ||||
| Impairment of intangible assets | 547 | - | ||||
| Potential stock issuance and financing transactions | 323 | - | ||||
| Remeasurement of contingent consideration | (1,759 | ) | - | |||
| Gain on sale of assets | - | (395 | ) | |||
| Operating income | 22,325 | 23,692 | ||||
| Other expense, net | 2,135 | 1,497 | ||||
| Income before income taxes | 20,190 | 22,195 | ||||
| Income tax expense | 6,863 | 5,364 | ||||
| Net income | ||||||
| Diluted net earnings per share data | ||||||
| Diluted weighted average shares outstanding | 7,939,381 | 8,592,572 | ||||
| RCM Technologies, Inc. Supplemental Operating Results on a Non-GAAP Basis (Unaudited) (In Thousands, Except Per Share Amounts) | ||||||
The following non-GAAP measures, which adjust for the categories of expenses described below, are non-GAAP financial measures. Our management believes that these non-GAAP financial measures (“Adjusted operating income,” “EBITDA,” “Adjusted EBITDA,” “Adjusted net income” and “Adjusted diluted net earnings per share”) 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’ overall understanding of our current financial performance and period-to-period comparisons. Adjusted operating income, EBITDA, Adjusted EBITDA, Adjusted net income and Adjusted diluted net earnings per share should not be considered alternatives to operating income or net income, as the case may be, as an indicator of performance. In addition, Adjusted operating income, EBITDA, Adjusted EBITDA, Adjusted net income and Adjusted diluted net earnings per share do not take into account changes in certain assets and liabilities and interest and income taxes that can affect cash flows. 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.
The following unaudited table presents the Company’s GAAP operating income and GAAP net income and the corresponding adjustments used to calculate Adjusted operating income, EBITDA, Adjusted EBITDA, Adjusted net income and Adjusted diluted net earnings per share for the thirteen and fifty-two weeks ended December 28, 2024 and December 30, 2023.
| Thirteen Weeks Ended | Fifty-Two Weeks Ended | |||||||||||
| December 28, 2024 | December 30, 2023 | December 28, 2024 | December 30, 2023 | |||||||||
| GAAP operating income | ||||||||||||
| Adjustments | ||||||||||||
| Gain on sale of assets | - | - | - | (395 | ) | |||||||
| Remeasurement of contingent consideration | (1,759 | ) | - | (1,759 | ) | - | ||||||
| Equity compensation | 710 | 641 | 2,864 | 2,092 | ||||||||
| Potential stock issuance and financing transaction | 64 | - | 323 | - | ||||||||
| Impairment of intangible assets | 547 | - | 547 | - | ||||||||
| Adjusted operating income (non-GAAP) | ||||||||||||
| GAAP net income | ||||||||||||
| Income tax expense | 2,902 | 2,119 | 6,863 | 5,364 | ||||||||
| Interest expense, net | 664 | 429 | 2,215 | 1,399 | ||||||||
| Depreciation of property and equipment | 407 | 276 | 1,419 | 1,032 | ||||||||
| Amortization of acquired intangible assets | - | 46 | 136 | 182 | ||||||||
| EBITDA (non-GAAP) | ||||||||||||
| Adjustments | ||||||||||||
| Gain on sale of assets | - | - | - | (395 | ) | |||||||
| Remeasurement of contingent consideration | (1,759 | ) | - | (1,759 | ) | - | ||||||
| (Gain) loss on foreign currency transactions | (148 | ) | 103 | (80 | ) | 98 | ||||||
| Equity compensation | 710 | 641 | 2,864 | 2,092 | ||||||||
| Potential stock issuance and financing transaction | 64 | - | 323 | - | ||||||||
| Impairment of intangible assets | 547 | - | 547 | - | ||||||||
| Adjusted EBITDA (non-GAAP) | ||||||||||||
| RCM Technologies, Inc. Supplemental Operating Results on a Non-GAAP Basis (Continued) (Unaudited) (In Thousands) | ||||||||||||
| Thirteen Weeks Ended | Fifty-Two Weeks Ended | |||||||||||
| December 28, 2024 | December 30, 2023 | December 28, 2024 | December 30, 2023 | |||||||||
| GAAP net income | ||||||||||||
| Adjustments | ||||||||||||
| Gain on sale of assets | - | - | - | (395 | ) | |||||||
| Remeasurement of contingent consideration | (1,759 | ) | - | (1,759 | ) | - | ||||||
| (Gain) loss on foreign currency transactions | (148 | ) | 103 | (80 | ) | 98 | ||||||
| Equity compensation | 710 | 641 | 2,864 | 2,092 | ||||||||
| Potential stock issuance and financing transaction | 64 | - | 323 | - | ||||||||
| Impairment of intangible assets | 547 | - | 547 | - | ||||||||
| Tax impact from normalized rate | 1,503 | (73 | ) | 900 | (1,113 | ) | ||||||
| Adjusted net income (non-GAAP) | ||||||||||||
| GAAP diluted net earnings per share | ||||||||||||
| Adjustments | ||||||||||||
| Gain on sale of assets | - | - | - | ( | ) | |||||||
| Remeasurement of contingent consideration | ( | ) | - | ( | ) | - | ||||||
| (Gain) loss on foreign currency transactions | ( | ) | 0.01 | ( | ) | |||||||
| Equity compensation | 0.08 | |||||||||||
| Potential stock issuance and financing transaction | - | - | ||||||||||
| Impairment of intangible assets | - | - | ||||||||||
| Tax impact from normalized rate(a) | (0.01 | ) | ( | ) | ( | ) | ||||||
| Adjusted diluted net earnings per share (non-GAAP) | ||||||||||||
(a) Amount reflects an adjustment to income tax expense applied to non-GAAP adjusted consolidated taxable income. The Company used an estimated effective income tax rate of
| RCM Technologies, Inc. Summary of Selected Income Statement Data (Unaudited) (In Thousands) | ||||||||||||
| Thirteen Weeks Ended December 28, 2024 | ||||||||||||
| Specialty Health Care | Engineering | Life Sciences, Data and Solutions | Consolidated | |||||||||
| Revenue | ||||||||||||
| Cost of services | 28,474 | 21,098 | 5,771 | 55,343 | ||||||||
| Gross profit | ||||||||||||
| Gross profit margin | 30.6 | % | 19.7 | % | 40.0 | % | 28.0 | % | ||||
| Thirteen Weeks Ended December 30, 2023 | ||||||||||||
| Specialty Health Care | Engineering | Life Sciences, Data and Solutions | Consolidated | |||||||||
| Revenue | ||||||||||||
| Cost of services | 25,686 | 16,589 | 7,122 | 49,397 | ||||||||
| Gross profit | ||||||||||||
| Gross profit margin | 30.0 | % | 27.0 | % | 38.7 | % | 30.5 | % | ||||
| Fifty-Two Weeks Ended December 28, 2024 | ||||||||||||
| Specialty Health Care | Engineering | Life Sciences, Data and Solutions | Consolidated | |||||||||
| Revenue | ||||||||||||
| Cost of services | 100,146 | 73,916 | 24,540 | 198,602 | ||||||||
| Gross profit | ||||||||||||
| Gross profit margin | 29.8 | % | 23.4 | % | 37.5 | % | 28.7 | % | ||||
| Fifty-Two Weeks Ended December 30, 2023 | ||||||||||||
| Specialty Health Care | Engineering | Life Sciences, Data and Solutions | Consolidated | |||||||||
| Revenue | ||||||||||||
| Cost of services | 96,309 | 64,071 | 26,161 | 186,541 | ||||||||
| Gross profit | ||||||||||||
| Gross profit margin | 29.3 | % | 24.3 | % | 38.2 | % | 29.1 | % | ||||
| RCM Technologies, Inc. Condensed Consolidated Balance Sheets (Unaudited) (In Thousands, Except Share Amounts) | ||||||
| December 28, | December 30, | |||||
| 2024 | 2023 | |||||
| Current assets: | ||||||
| Cash and cash equivalents | ||||||
| Accounts receivable, net of provision for credit losses of | 77,960 | 70,690 | ||||
| Transit accounts receivable | 7,315 | 8,891 | ||||
| Prepaid expenses and other current assets | 7,034 | 4,637 | ||||
| Total current assets | 97,038 | 90,502 | ||||
| Property and equipment, net | 7,368 | 4,005 | ||||
| Other assets: | ||||||
| Deposits | 230 | 313 | ||||
| Deferred tax assets, foreign | 120 | 55 | ||||
| Goodwill | 22,147 | 22,147 | ||||
| Operating right of use asset | 5,174 | 2,779 | ||||
| Intangible assets, net | - | 683 | ||||
| Total other assets | 27,671 | 25,977 | ||||
| Total assets | ||||||
| Current liabilities: | ||||||
| Accounts payable and accrued expenses | ||||||
| Transit accounts payable | 23,870 | 31,102 | ||||
| Accrued payroll and related costs | 9,929 | 11,203 | ||||
| Finance lease payable | 698 | 233 | ||||
| Income taxes payable | 346 | 330 | ||||
| Operating right of use liability | 1,046 | 693 | ||||
| Contingent consideration from acquisitions | 212 | 300 | ||||
| Deferred revenue | 4,163 | 1,881 | ||||
| Total current liabilities | 53,633 | 58,196 | ||||
| Deferred income taxes, net, foreign | - | 187 | ||||
| Deferred income taxes, net, domestic | 4,526 | 1,568 | ||||
| Finance lease payable, net of current position | 1,112 | - | ||||
| Contingent consideration from acquisitions, net of current position | - | 1,671 | ||||
| Operating right of use liability, net of current position | 4,355 | 2,268 | ||||
| Borrowings under line of credit | 34,967 | 30,804 | ||||
| Total liabilities | 98,593 | 94,694 | ||||
| Contingencies (note 16) and Commitments (note 18) | ||||||
| Stockholders’ equity: | ||||||
| Preferred stock, | - | - | ||||
| Common stock, | 890 | 882 | ||||
| Additional paid-in capital | 118,845 | 116,579 | ||||
| Accumulated other comprehensive loss | (2,920 | ) | (2,813 | ) | ||
| Accumulated deficit | (5,938 | ) | (19,265 | ) | ||
| Treasury stock, 10,236,259 shares at December 28, 2024 and 9,828,606 shares at December 30, 2023 | (77,393 | ) | (69,593 | ) | ||
| Stockholders’ equity | 33,484 | 25,790 | ||||
| Total liabilities and stockholders’ equity | ||||||
| RCM Technologies, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (In Thousands) | ||||||
| Thirteen Weeks Ended | ||||||
| December 28, 2024 | December 30, 2023 | |||||
| Net income | ||||||
| Adjustments to reconcile net income to cash used in operating activities | 2,693 | 1,526 | ||||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | (2,064 | ) | (13,880 | ) | ||
| Prepaid expenses and other current assets | (1,917 | ) | 678 | |||
| Net of transit accounts receivable and payable | (5,345 | ) | (6,660 | ) | ||
| Accounts payable and accrued expenses | 1,861 | 292 | ||||
| Accrued payroll and related costs | (1,698 | ) | (3,421 | ) | ||
| Right of use liabilities | (280 | ) | (337 | ) | ||
| Income taxes payable | 140 | 80 | ||||
| Deferred revenue | 2,121 | 1,546 | ||||
| Deposits | (15 | ) | (145 | ) | ||
| Total adjustments | (4,504 | ) | (20,321 | ) | ||
| Net cash used in operating activities | ( | ) | ( | ) | ||
| Net cash used in investing activities | (983 | ) | (2,056 | ) | ||
| Net cash provided by financing activities | 4,307 | 22,706 | ||||
| Effect of exchange rate changes on cash and cash equivalents | (114 | ) | 46 | |||
| Decrease in cash and cash equivalents | ||||||
| Common stock repurchase | $- | ( | ) | |||
| Fifty-Two Weeks Ended | ||||||
| December 28, 2024 | December 30, 2023 | |||||
| Net income | ||||||
| Adjustments to reconcile net income to cash used in operating activities | 6,893 | 4,321 | ||||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | (7,271 | ) | (20,576 | ) | ||
| Prepaid expenses and other current assets | (2,392 | ) | 3 | |||
| Net of transit accounts receivable and payable | (5,656 | ) | 15,724 | |||
| Accounts payable and accrued expenses | 1,101 | (1,506 | ) | |||
| Accrued payroll and related costs | (1,265 | ) | (1,825 | ) | ||
| Right of use liabilities | (966 | ) | (1,353 | ) | ||
| Income taxes payable | 34 | 242 | ||||
| Deferred revenue | 2,282 | 762 | ||||
| Deposits | 83 | (141 | ) | |||
| Total adjustments | (7,157 | ) | (4,349 | ) | ||
| Net cash provided by operating activities | 6,170 | 12,482 | ||||
| Net cash used in investing activities | (2,572 | ) | (2,536 | ) | ||
| Net cash used in financing activities | (4,828 | ) | (3,852 | ) | ||
| Effect of exchange rate changes on cash and cash equivalents | (325 | ) | (149 | ) | ||
| (Decrease) increase in cash and cash equivalents | ( | ) | ||||
| Common stock repurchase | ( | ) | ( | ) | ||
| RCM Technologies, Inc. | Tel: 856.356.4500 | Corporate Contacts: |
| 2500 McClellan Avenue | info@rcmt.com | Bradley S. Vizi |
| Pennsauken, NJ 08109 | www.rcmt.com | Executive Chairman |
| Kevin D. Miller | ||
| Chief Financial Officer | ||
FAQ
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