RCM Technologies Q3 2024: Assets $17.8M, Liabilities $7.6M

TL;DR

**RCM Tech Q3:** Assets $17.8M, Liabilities $7.6M. Net income for 9 months 2023 was $10.2M.

AI Summary

RCM Technologies, Inc. filed its Q3 2024 10-Q report on November 7, 2024, for the period ending September 28, 2024. The company reported total assets of $17,833,287 and total liabilities of $7,597,028 as of September 28, 2024. For the nine months ended September 30, 2023, RCM Technologies reported net income of $10,236,259.

Why It Matters

This filing provides a snapshot of RCM Technologies' financial health as of Q3 2024, detailing its asset and liability positions, which are crucial for investors to assess the company's stability and performance.

Risk Assessment

Risk Level: medium — The filing provides a detailed financial overview, but without comparative data or forward-looking statements, assessing the full risk profile is challenging.

Key Numbers

• $17.8M — Total Assets (As of September 28, 2024)
• $7.6M — Total Liabilities (As of September 28, 2024)
• $10.2M — Net Income (9 months 2023) (For the nine months ended September 30, 2023)

Key Players & Entities

• RCM TECHNOLOGIES, INC. (company) — Filer
• 20240928 (date) — Period of Report
• 20241107 (date) — Filing Date
• $17,833,287 (dollar_amount) — Total Assets as of 2024-09-28
• $7,597,028 (dollar_amount) — Total Liabilities as of 2024-09-28
• $10,236,259 (dollar_amount) — Net Income for nine months ended 2023-09-30

FAQ

Key Financial Figures

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

Filing Documents

• rcmt20240928_10q.htm (10-Q) — 1846KB
• ex_738785.htm (EX-31.1) — 9KB
• ex_738786.htm (EX-31.2) — 9KB
• ex_738787.htm (EX-32.1) — 5KB
• ex_738788.htm (EX-32.2) — 5KB
• 0001437749-24-033917.txt ( ) — 7627KB
• rcmt-20240928.xsd (EX-101.SCH) — 55KB
• rcmt-20240928_cal.xml (EX-101.CAL) — 55KB
• rcmt-20240928_def.xml (EX-101.DEF) — 367KB
• rcmt-20240928_lab.xml (EX-101.LAB) — 333KB
• rcmt-20240928_pre.xml (EX-101.PRE) — 402KB
• rcmt20240928_10q_htm.xml (XML) — 1390KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets as of September 28, 2024 (Unaudited) and December 30, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the Thirteen and Thirty-Nine Weeks Ended September 28, 2024 and September 30, 2023 5 Unaudited Condensed Consolidated Statements of Comprehensive Income for the Thirty-Nine Weeks Ended September 28, 2024 and September 30, 2023 6 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity for the Thirty-Nine Weeks Ended September 28, 2024 and September 30, 2023 7 Unaudited Condensed Consolidated Statements of Cash Flows for the Thirty-Nine Weeks Ended September 28, 2024 and September 30, 2023 9 Notes to Unaudited Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 4.

Controls and Procedures

Controls and Procedures 49

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 51 Item 1A.

Risk Factors

Risk Factors 51 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 51 Item 3. Defaults Upon Senior Securities 51 Item 4. Mine Safety Disclosures 51 Item 5. Other Information 51 Item 6. Exhibits 52

Signatures

Signatures 53 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 thirty-nine weeks ended September 28, 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

View Full Filing

View this 10-Q filing on SEC EDGAR