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RCM revenue up 24%

February 27 2014

RCM Technologies Inc. (NASD: RCMT), a Pennsauken, N.J.-based staffing provider, reported revenue rose 23.9 percent in the fourth quarter to $45.8 million. However, gross margin narrowed to 25.7 percent from 27.3 percent in the year-ago quarter.

Shares in RCM fell 0.87 percent in early afternoon trading to $6.81; the company had a market cap of approximately $84.21 million, according to Yahoo!

RCM reported a net loss of $1.6 million for the quarter compared to a net income of $1.0 million in the prior year’s fourth quarter. The fourth quarter of 2013 includes charges of $2.9 million related to the retirement of President and CEO Leon Kopyt, $1.5 million relating to the year’s proxy contest, $100,000 in facilities consolidation charges and $200,000 in professional fees related to a research and development tax credit study.

Full-year 2013 revenue rose 17.1 percent to $170.8 million. Full-year net income fell to $2.0 million, down 38.3 percent from $3.2 million in 2012.


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