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RCM Technologies Inc. (NASD: RCMT) reported today third-quarter revenue fell 10.5 percent to $33.6 million from $37.5 million in the third quarter of last year.
Third-quarter gross margin fell to 27.1 percent from 28.3 percent the prior year’s quarter.
Net income dropped 41.8 percent to $724,000 in the third quarter from $1.2 million a year ago.
“Our engineering and specialty healthcare segments continue to perform in line with expectations,” said RCM Chairman and CEO Leon Kopyt. “In particular, we are very encouraged by the sales opportunities in our engineering segment and are excited about our prospects as we get ready for 2012. We are pleased with the recent organizational changes in our information technology segment and cautiously optimistic that we can begin to reverse the sales trend in 2012.”
RCM Technologies Inc. (NASD: RCMT)
For third quarter ended Oct. 1, 2011, compared with the same period in 2010.
Revenue: $33.6 million, -10.5 percent
Net income: $724,000, -41.8 percent