Business
RCM Technologies, Inc. Announces Fourth Quarter and Full Year 2019 Results
PENNSAUKEN, N.J., March 04, 2020 (GLOBE NEWSWIRE) -- RCM Technologies, Inc. (NasdaqGM: RCMT), a premier provider of business and technology solutions designed
About this update from Rcm Technologies, Inc.
[{"type":"text","content":"PENNSAUKEN, N.J., March 04, 2020 (GLOBE NEWSWIRE) -- RCM Technologies, Inc. (NasdaqGM: RCMT), a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced engineering, specialty health care and information technology services, today announced financial results for the thirteen and fifty-two week periods ended December 28, 2019.\n RCM Technologies reported revenue of $48.6 million for the thirteen week period ended December 28, 2019 (the current period), a 12.2% decrease as compared to $55.3 million for the thirteen week period ended December 29, 2018 (the comparable prior year period). Gross profit was $12.7 million for the current period, a 2.9% decrease as compared to $13.0 million for the comparable prior year period. The Company experienced GAAP operating income of $2.0 million for the current period, as compared to $1.6 million for the comparable prior year period. GAAP net income was $1.0 million, or $0.08 per diluted share, for the current period as compared to $0.6 million, or $0.05 per diluted share, for the comparable prior year period. RCM Technologies reported revenue of $191.1 million for the fifty-two week period ended December 28, 2019 (the current period), a 4.6% decrease as compared to $200.4 million for the fifty-two week period ended December 29, 2018 (the comparable prior year period). Gross profit was $48.6 million for the current period, a 1.5% decrease as compared to $49.3 million for the comparable prior year period. The Company experienced GAAP operating income of $6.6 million for the current period, as compared to $5.4 million for the comparable prior year period. GAAP net income was $4.1 million, or $0.31 per diluted share, for the current period as compared to $2.7 million, or $0.22 per diluted share, for the comparable prior year period. The Company had adjusted EBITDA (non-GAAP) of $2.4 million for the thirteen week period ended December 28, 2019, a 4.8% decrease as compared to $2.6 million for the comparable prior year period. The Company had adjusted EBITDA (non-GAAP) of $8.2 million for the fifty-two week period ended December 29, 2018, a 8.1% decrease as compared to $8.9 million for the comparable prior year period. A reconciliation of adjusted EBITDA (non-GAAP) to EBITDA (n...