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RCM Revenue Falls 2%

August 14 2012

RCM Technologies Inc. (NASD: RCMT), a Pennsauken, N.J.-based staffing provider, reported second-quarter revenue fell 2.1 percent to $35.8 million from $36.5 million in the year-ago quarter.

Second-quarter gross margin narrowed to 27.0 percent from 28.6 percent in the year-ago quarter.

“As previously announced, we experienced significant procedural client project delays for a major North American utility client,” said Chairman and CEO Leon Kopyt. “This resulted in second quarter revenue declines, as compared to last year’s second quarter, of $2.1 million for our Canadian engineering division and $1.1 million for our engineering segment.”

Net income at the company fell 59.3 percent to $505,000 from $1.2 million in the year-ago quarter.

RCM provides IT, engineering and healthcare staffing.

RCM Technologies Inc. (NASD: RCMT)
Revenue: $35.8 million, -2.1 percent
Net income: $505,000, -59.3 percent

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