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RCM Revenue Falls 4%

February 23 2012

RCM Technologies Inc. (NASD: RCMT), a Pennsauken, N.J.-based staffing provider, reported fourth-quarter revenue fell 3.7 percent to $35.0 million from $36.4 million in the fourth quarter of the previous year.

Fourth-quarter gross margin narrowed to 28.9 percent from 29.6 percent in the year-ago quarter.

Net income rose 7.2 percent to $1.1 million.

Chairman and CEO Leon Kopyt said the company is making progress in its IT division and is encouraged with its prospects for 2012 and beyond. “For the first time in the last eight quarters, the IT division posted slight quarterly sequential growth which we believe is an indication of stabilization and turnaround in its performance,” Kopyt said.

Revenue for full-year 2011 fell 11.2 percent to $143.8 million from $162.0 million in 2010.

Gross margin for the full year edged down to 28.3 percent from 28.5 percent in 2010. Net income fell 26.2 percent to $4.3 million.

RCM provides IT, engineering and healthcare staffing.

RCM Technologies Inc. (NASD: RCMT)
For the fourth quarter ended Dec. 31, 2011, compared with the same period in the previous year.
Revenue: $35.0 million, -3.7 percent
Net income: $1.1 million, +7.2 percent

For the 2011 fiscal year ended Dec. 31, 2011, compared with the previous year.
Revenue: $143.8 million, -11.2 percent
Net income: $4.3 million, -26.2 percent

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