Business
RCM Technologies, Inc. Announces Fourth Quarter and Full Year 2021 Results
PENNSAUKEN, N.J., March 30, 2022 (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 30, 2022 (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 January 1, 2022. RCM Technologies reported revenue of $64.9 million for the thirteen week period ended January 1, 2022 (the current period), a 57.7% increase as compared to $41.2 million for the fourteen week period ended January 2, 2021 (the comparable prior year period). Gross profit was $17.8 million for the current period, a 66.5% increase as compared to $10.7 million for the comparable prior year period. The Company experienced GAAP operating income of $7.1 million for the current period as compared to a GAAP operating loss of $1.9 million for the comparable prior year period. The Company experienced adjusted operating income of $5.1 million for the current period as compared to $0.4 million for the comparable prior year period. The Company experienced GAAP net income of $6.0 million, or $0.54 per diluted share, for the current period as compared to a GAAP net loss of $1.7 million, or ($0.15) per diluted share, for the comparable prior year period. The Company experienced adjusted EBITDA of $5.3 million for the current period as compared to adjusted EBITDA of $0.7 million for the comparable prior year period. The Company experienced adjusted net income of $3.7 million, or $0.34 per diluted share, for the current period as compared to an adjusted net loss of $0.1 million, or ($0.01) per diluted share, for the comparable prior year period. RCM Technologies reported revenue of $203.9 million for the fifty-two week period ended January 1, 2022 (the current period), a 35.5% increase as compared to $150.4 million for the fifty-three week period ended January 2, 2021 (the comparable prior year period). Gross profit was $53.1 million for the current period, a 36.7% increase as compared to $38.9 million for the comparable prior year period. The Company experienced GAAP operating income of $14.1 million for the current period as compared to a GAAP operating loss of $11.0 million for the comparable prior year...