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RCM revenue falls 2%

May 11 2009

First-quarter revenue fell 2.2% at RCM Technologies Inc. (NASD: RCMT) to $48.0 million. Chairman and CEO Leon Kopyt said the weak economy hurt results, but business momentum picked up at the end of the first quarter.

Gross margin narrowed to 22.8% from 25.0% in the year-ago quarter at the Pennsauken NJ-based firm, which provides engineering, information technology and commercial staffing.

RCM posted net income of $5.5 million, compared with a net loss of $2.7 million in the first quarter of last year. The company gained $9.8 million in a legal settlement with attorneys and law firms that had advised the company in an acquisition that took place more than a decade ago.

RCM Technologies Inc. (NASD: RCMT)
For the first quarter ended March 28, 2009, compared with the same period in 2008.
Revenue: $48.0 million, -2.2%
Net income: $5.5 million vs. net loss of $2.7 million

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