Pennsauken, N.J.-based firm RCM Technologies Inc. (NASD GM: RCMT) — a provider of engineering, IT and healthcare staffing — reported revenue fell 1.2% in the first quarter to $48.0 million.

Quote

“The company is cautiously optimistic that overall results for fiscal 2015 should remain favorable as compared to fiscal 2014,” CFO Kevin Miller. “However, due to gaps and timing of projects, primarily in the company’s Canadian Engineering Group, we expect to see a decline in operating income in the second quarter of 2015 as compared to both the second quarter of 2014 and the first quarter of 2015. Our current estimate is that operating income for the second quarter of 2015 will be somewhere between $1.0 million and $1.6 million. Because of our strong pipeline, it benefits us to carry a large bench of engineers in Canada, even though they may not have billable work until our pipeline is realized as expected. This will result in reductions to our gross and operating margins in the near term.”

Share price and market cap

Shares in RCM fell 7.09% in early afternoon trading to $5.64; RCM has a market cap of $71.69 million, according to Yahoo!