RCM Technologies Inc. (NASD GM: RCMT) — a provider of engineering, IT and healthcare staffing — reported revenue fell 1.6% in its first quarter ended April 2. Net income also declined.

On the last day of fiscal 2015, RCM disposed of its QAD Software Solutions business unit, part of the company’s IT segment, which generated $1.0 million in revenue and $600,000 in gross profit in the fiscal first quarter of 2015.

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“Consolidated results for the first quarter of fiscal 2016 were in line with management’s expectations,” said CFO Kevin Miller. “We expect a significant increase in demand from our Canadian Engineering clients in the second half of fiscal 2016 and beyond. We are ready to meet that demand; however, predicting the quarterly timing of the increase in demand can be a challenge. We anticipate that our second-quarter operating income results will continue to be soft as we manage our bench in Canada.”

Share price and market cap

Shares in RCM remained at $5.20 in early afternoon trading today; RCM has a market cap of approximately $64.41 million, according to Yahoo!