RCM Technologies, Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>RCM Technologies, Inc. reported $17.78 million in revenue and $7.95 million in net income for Q1 2024.</b>

AI Summary

RCM TECHNOLOGIES, INC. (RCMT) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. RCM Technologies, Inc. reported $17,775,693 in revenue for the quarter ending March 30, 2024. Net income for the same period was $7,947,087. Earnings per share (EPS) stood at $0.05 for the quarter. Total assets reported were $40,000,000 as of March 30, 2024. The company reported $17,673,427 in total debt as of the same date.

Why It Matters

For investors and stakeholders tracking RCM TECHNOLOGIES, INC., this filing contains several important signals. The filing provides a detailed financial snapshot for the first quarter of 2024, allowing investors to assess the company's performance and financial health. Key figures such as revenue, net income, and total assets offer insights into the company's operational efficiency and growth trajectory.

Risk Assessment

Risk Level: medium — RCM TECHNOLOGIES, INC. shows moderate risk based on this filing. The company's financial performance is subject to market conditions and operational execution, as indicated by the reported revenue and net income figures.

Analyst Insight

Monitor RCM Technologies' revenue growth and profitability in subsequent filings to gauge its ability to sustain current performance levels.

Financial Highlights

revenue

17,775,693

total Assets

40,000,000

total Debt

17,673,427

net Income

7,947,087

eps

0.05

Revenue Breakdown

Key Numbers

• 17,775,693 — Revenue (For the quarter ending March 30, 2024)
• 7,947,087 — Net Income (For the quarter ending March 30, 2024)
• 0.05 — EPS (For the quarter ending March 30, 2024)
• 40,000,000 — Total Assets (As of March 30, 2024)
• 17,673,427 — Total Debt (As of March 30, 2024)

Key Players & Entities

• RCM TECHNOLOGIES, INC. (company) — Filer name
• 2024-03-30 (date) — Period of report
• 2024-05-09 (date) — Filing date
• PENNSAUKEN (location) — Business address city
• NJ (location) — Business address state
• 8563564500 (phone) — Business phone

FAQ

Key Dates

• 2024-03-30: Quarterly period end — Reporting period for the 10-Q filing.
• 2024-05-09: Filing date — Date the 10-Q was officially filed with the SEC.

Key Financial Figures

• $0.05 — ich registered Common Stock, par value $0.05 per share RCMT The NASDAQ Stock Mar

Filing Documents

• rcmt20240331_10q.htm (10-Q) — 1235KB
• ex_663159.htm (EX-31.1) — 9KB
• ex_663160.htm (EX-31.2) — 9KB
• ex_663161.htm (EX-32.1) — 5KB
• ex_663162.htm (EX-32.2) — 5KB
• 0001437749-24-015677.txt (&nbsp;) — 6132KB
• rcmt-20240330.xsd (EX-101.SCH) — 54KB
• rcmt-20240330_cal.xml (EX-101.CAL) — 53KB
• rcmt-20240330_def.xml (EX-101.DEF) — 360KB
• rcmt-20240330_lab.xml (EX-101.LAB) — 324KB
• rcmt-20240330_pre.xml (EX-101.PRE) — 393KB
• rcmt20240331_10q_htm.xml (XML) — 942KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of March 30, 2024 (Unaudited) and December 30, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the Thirteen Weeks Ended March 30, 2024 and April 1, 2023 5 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Thirteen Weeks Ended March 30, 2024 and April 1, 2023 6 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Thirteen Weeks Ended March 30, 2024 and April 1, 2023 7 Unaudited Condensed Consolidated Statements of Cash Flows for the Thirteen Weeks Ended March 30, 2024 and April 1, 2023 8 Notes to Unaudited Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 46

Signatures

Signatures 47 2 CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS This report and documents incorporated by reference into it may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are not historical facts but rather are based on current expectations, estimates and projections about our business and industry, and our beliefs and assumptions. Words such as "believes," "anticipates," "plans," "expects," "will," "goal," and similar expressions are intended to identify forward-looking statement. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Such forward-looking information is also subject to various risks and uncertainties. Such risks and uncertainties include, but are not limited to, risks arising from our providing service to the healthcare industry; the impact of and future effects of the COVlD-19 pandemic or other potential pandemics; having a significant portion of our condensed consolidated revenues contributed by a concentrated group of customer during the thirteen weeks ended March 30, 2024; credit and collection risks; our claim experience related to workers' compensation and general liability insurance; the effects of changes in, or interpretations of laws and regulations governing, the healthcare industry, our workforce and the services that we provide, including state and local regulations pertaining to the taxability of our services and other labor-related matters such a minimum wage increases; the Company's expectations with respect to selling, general, and administrative expense; and the risk factors described in Part I, Item 1A, "Risk Factors" of our Annual Report on Form 10

View Full Filing

View this 10-Q filing on SEC EDGAR