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View All NewsRCM revenue falls 4%
RCM Technologies Inc. (NASD GM: RCMT) — a provider of engineering, IT and healthcare staffing — reported revenue fell 3.9% in its fourth quarter ended Jan. 2.
| (US$ thousands) | Q4 2015 | Q4 2014 | % growth |
| Revenue | $47,407 | $49,310 | -3.9% |
| Gross profit | $13,690 | $13,320 | 2.8% |
| Gross profit margin | 28.9% | 27.0% | -- |
| Net income | $2,976 | $1,717 | 73.3% |
Fourth-quarter net income at the Pennsauken, N.J.-based firm rose 73.3%, reflecting an income tax benefit of $900,000 related to the sale of the QAD business unit, part of the company’s IT segment.
Quote
“We are optimistic that we will deliver good cash flow again in fiscal 2016, through improved operating income and/or reduced days outstanding in our accounts receivable,” said CFO Kevin Miller. “We expect to improve our fiscal 2016 operating income as compared to fiscal 2015 by achieving attractive gross profit growth rates while efficiently managing our growth in SGA expense. However, due to expected project delays in our Canadian Engineering group, we expect a slow start to fiscal 2016.”
Full-year results
| (US$ thousands) | 2015 | 2014 | % growth |
| Revenue | $185,736 | $193,770 | -4.1% |
| Gross profit | $51,885 | $51,963 | -0.2% |
| Gross profit margin | 27.9% | 26.8% | -- |
| Net income | $6,015 | $6,814 | -11.7% |
Share price and market cap
Shares in RCM fell 3.06% in early afternoon trading today to $5.70; RCM has a market cap of approximately $69.97 million, according to Yahoo!