RCM Technologies Q2 2024 Financial Update

TL;DR

RCM Tech Q2: Assets $17.7M, Liabilities $7.6M. Financials updated.

AI Summary

RCM Technologies, Inc. filed its 10-Q for the period ending June 29, 2024. The company reported total assets of $17,775,693 and total liabilities of $7,666,709 for the quarter. This filing provides an update on the company's financial position and performance during the second quarter of 2024.

Why It Matters

This filing provides investors with a snapshot of RCM Technologies' financial health, including its assets and liabilities, as of the end of the second quarter of 2024.

Risk Assessment

Risk Level: medium — The filing is a routine quarterly report, but the specific financial figures and any accompanying management discussion could reveal underlying risks or opportunities.

Key Numbers

• $17.7M — Total Assets (As of June 29, 2024)
• $7.6M — Total Liabilities (As of June 29, 2024)
• 12-28 — Fiscal Year End (Company's fiscal year ends on December 28th.)

Key Players & Entities

• RCM TECHNOLOGIES, INC. (company) — Filer
• 20240629 (date) — Period of Report
• $17,775,693 (dollar_amount) — Total Assets
• $7,666,709 (dollar_amount) — Total Liabilities

FAQ

Key Financial Figures

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

Filing Documents

• rcmt20240629_10q.htm (10-Q) — 1707KB
• ex_704910.htm (EX-31.1) — 9KB
• ex_704911.htm (EX-31.2) — 9KB
• ex_704912.htm (EX-32.1) — 5KB
• ex_704913.htm (EX-32.2) — 5KB
• 0001437749-24-025545.txt ( ) — 7377KB
• rcmt-20240629.xsd (EX-101.SCH) — 54KB
• rcmt-20240629_def.xml (EX-101.DEF) — 365KB
• rcmt-20240629_lab.xml (EX-101.LAB) — 330KB
• rcmt-20240629_pre.xml (EX-101.PRE) — 399KB
• rcmt-20240629_cal.xml (EX-101.CAL) — 54KB
• rcmt20240629_10q_htm.xml (XML) — 1339KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of June 29, 2024 (Unaudited) and December 30, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the Thirteen and Twenty-Six Weeks Ended June 29, 2024 and July 1, 2023 5 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Twenty-Six Weeks Ended June 29, 2024 and July 1, 2023 6 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Twenty-Six Weeks Ended June 29, 2024 and July 1, 2023 7 Unaudited Condensed Consolidated Statements of Cash Flows for the Twenty-Six Weeks Ended June 29, 2024 and July 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 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 4.

Controls and Procedures

Controls and Procedures 48

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 50 Item 1A.

Risk Factors

Risk Factors 50 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50 Item 3. Defaults Upon Senior Securities 50 Item 4. Mine Safety Disclosures 50 Item 5. Other Information 50 Item 6. Exhibits 51

Signatures

Signatures 52 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 twenty-six weeks ended June 29, 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 1

View Full Filing

View this 10-Q filing on SEC EDGAR