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View All NewsRCM Technologies Q1 revenue down
RCM Technologies Inc. (NASD GM: RCMT) — a provider of engineering, IT and healthcare staffing — reported revenue edged down 1.8% in the first quarter. Gross margin also narrowed.
| (US$ thousands) | Q1 2017 | Q1 2016 | % growth |
| Revenue | $46,341 | $47,176 | -1.8% |
| Gross profit | $11,752 | $12,676 | -7.3% |
| Gross profit margin | 25.4% | 26.9% | |
| Net income | $550 | $1,001 | -45.1% |
RCM Technologies on April 27 acquired certain assets of RAF Services Inc., a New York-based engineering services company. The small firm, which does not provide temporary staffing services, has three employees and about $300,000 in revenue.
Quote
“We are pleased with our progress in the first quarter of 2017,” President and CEO Rocco Campanelli said. “While our revenues are down slightly from our first quarter of last year, our best quarter in 2016, our revenues in the first quarter of 2017 show approximately 5.0% sequential growth as compared to the fourth quarter of 2016.”
Share price and market cap
Shares in RCM fell 0.36% to $4.80 in late morning trading today; RCM has a market cap of approximately $57.33 million, according to Yahoo.