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RCM Technologies revenue falls 13%

November 05 2009
Staffing Industry Analysts North American Daily News

RCM Technologies Inc. (NASD: RCMT) reported third-quarter revenue fell 13.3% to $44.8 million from $51.6 million in the third quarter of last year.

"Revenue in the third quarter for our information technology and general support services groups remained sluggish due, in part, to a continued weakness in enterprise IT spending and light industrial services, respectively," Chairman and CEO Leon Kopyt said.

RCM's third-quarter gross margin improved to 26.5% from 25.7% in the year-ago quarter.

Net income fell 22.7% to $437,000 in the third quarter from $565,000 in the third quarter of 2008. RCM said proceeds from a legal settlement of $9.8 million boosted the bottom line in the most-recent quarter.

The Pennsauken NJ-based staffing firm provides engineering, information technology and commercial staffing.

RCM Technologies Inc. (NASD: RCMT)
For the third quarter ended Sept. 26, 2009, compared with the same period in 2008.
Revenue: $44.8 million, -13.3%
Net income: $437,000, -22.7%

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