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View All NewsRCM Technologies revenue falls 1%; gross margin improves
Staffing provider RCM Technologies Inc. (NASDAQ: RCMT) reported first-quarter revenue fell 1.1% year over year. Meanwhile, gross margin at the Pennsauken, New Jersey-based firm improved to 24.4% in the first quarter of this year from 24.1% in the first quarter of last year.
| (US$ thousands) | Q1 2021 | Q1 2020 | % change |
| Revenue | $44,549 | $45,033 | -1.1% |
| Gross profit | $10,850 | $10,843 | 0.1% |
| Gross margin | 24.4% | 24.1% | |
| Net loss/income | $1,007 | ($5,945) | nm |
“Revenue grew sequentially by $3.3 million as compared to the fourth quarter of 2020,” CFO Kevin Miller said. “Despite experiencing the full impact of Covid-19 for the entire current-year period, as compared to only three weeks in the first quarter of 2020, RCM’s revenue base was essentially flat on a year-over-year basis.”
Revenue by segment
| (US$ thousands) | Q1 2021 | Q1 2020 | % change |
| Engineering | $14,466 | $14,163 | 2.1% |
| Specialty healthcare | $21,137 | $22,197 | -4.8% |
| Information technology | $8,946 | $8,673 | 3.1% |
Share price and market cap
Shares in RCM were up 6.51% to $3.74 as of 12:13 p.m. Eastern time; they were 233.79% above their 52-week low, according to FT.com. The company had a market cap of $39.2 million.