R C M Technologies Inc

NASDAQ:RCMTUnited States

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• -- Earnings Flash (RCMT) RCM TECHNOLOGIES Reports Q3 EPS $0.44, from 13 hours ago by MT Newswires

  13 hours ago by MT Newswires
  Companies Mentioned: RCMT
  04:28 PM EST, 11/07/2024 (MT Newswires) -- ...

• -- Earnings Flash (RCMT) RCM TECHNOLOGIES Posts Q3 Revenue $60.4M, from 13 hours ago by MT Newswires

  13 hours ago by MT Newswires
  Companies Mentioned: RCMT
  04:27 PM EST, 11/07/2024 (MT Newswires) -- ...

• RCM Technologies, Inc. Announces Third Quarter Results, from 14 hours ago by Dow Jones

  14 hours ago by Dow Jones
  Companies Mentioned: RCMT
  ---------------------------------------- -------------- ------------ (Unaudited) Current assets: Cash and cash equivalents $3,156 $6,284 Accounts receivable, net of provision for credit losses of $1,600 at September 28, 2024 and December 30, 2023 75,913 70,690 Transit accounts receivable 6,315 8,891 Prepaid expenses and other current assets 5,112 4,637 Total current assets 90,496 90,502 ----------------------------------------- ------------- ------------ Property and equipment, net 6,793 4,005 Deposits 215 313 Deferred income taxes, foreign 55 55 Goodwill 22,147 22,147 Operating right of use asset 5,292 2,779 Intangible assets, net 547 683 Total other assets 28,256 25,977 ----------------------------------------- ------------- ------------ Total assets $125,545 $120,484 ========================================= ============= ============ Current liabilities: Accounts payable and accrued expenses $11,525 $12,454 Transit accounts payable 28,215 31,102 Accrued payroll and related costs 11,634 11,203 Finance lease payable 689 233 Income taxes payable 220 330 Operating right of use liability 1,019 693 Contingent consideration from acquisitions 300 300 Deferred revenue 2,042 1,881 Total current liabilities 55,644 58,196 Deferred income taxes, net, foreign 185 187 Deferred income taxes, net, domestic 1,719 1,568 Finance lease payable, net of current position 1,290 - Contingent consideration from acquisitions, net of current position 1,671 1,671 Operating right of use liability, net of current position 4,519 2,268 Borrowings under line of credit 30,477 30,804 Total liabilities 95,505 94,694 ------------------------------------------------ -------- -------- Contingencies (note 15) - - Stockholders' equity: Preferred stock, $1.00 par value; 5,000,000 shares authorized; no shares issued or outstanding - - Common stock, $0.05 par value; 40,000,000 shares authorized; 17,833,287 shares issued and 7,597,028 shares outstanding at September 28, 2024 and 17,673,427 shares issued and 7,844,821 shares outstanding at December 30, 2023 890 882 Additional paid-in capital 118,136 116,579 Accumulated other comprehensive loss (2,787) (2,813) Accumulated deficit (8,805) (19,265) Treasury stock, 10,236,259 shares at September 28, 2024 and 9,828,606 shares at December 30, 2023, at cost (77,394) (69,593) ------------------------------------------------ -------- -------- Total stockholders' equity 30,040 25,790 ------------------------------------------------ -------- -------- Total liabilities and stockholders' equity $125,545 $120,484 ================================================ ======== ======== RCM Technologies, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (In Thousands) Thirteen Weeks Ended ------------------------------------- ------------------------------ September 28, September 30, 2024 2023 ------------------------------------- -------------- ------------- Net income $2,746 $3,756 Adjustments to reconcile net income to cash used in operating activities 1,508 1,049 Changes in operating assets and liabilities: Accounts receivable (9,033) 4,143 Prepaid expenses and other current assets 321 (987) Net of transit accounts receivable and payable 435 1,556 Accounts payable and accrued expenses (1,445) (785) Accrued payroll and related costs 1,919 2,790 Right of use liabilities (228) (333) Income taxes payable 81 15 Deferred revenue (636) (169) Deposits (12) 2 -------------------------------------- ------------- ------------- Total adjustments (7,090) 7,281 -------------------------------------- ------------- ------------- Net cash (used in) provided by operating activities ($4,344) $11,037 Net cash (used in) provided by investing activities (522) 79 Net cash provided by (used in) financing activities 4,375 (11,343) Effect of exchange rate changes on cash and cash equivalents 167 (392) -------------------------------------- ------------- ------------- Decrease in cash and cash equivalents ($324) ($619) ====================================== ============= ============= Common stock repurchase ($2,410) ($3,389) Thirty-Nine Weeks Ended ------------------------------------ ------------------------------- September 28, September 30, 2024 2023 ------------------------------------ --------------- ------------- Net income $10,460 $11,576 Adjustments to reconcile net income to cash used in operating activities 4,200 2,795 Changes in operating assets and liabilities: Accounts receivable (5,207) (6,696) Prepaid expenses and other current assets (475) (675) Net of transit accounts receivable and payable (311) 22,384 Accounts payable and accrued expenses (760) (1,798) Accrued payroll and related costs 433 1,596 Right of use liabilities (686) (1,016) Income taxes payable (106) 162 Deferred revenue 161 (784) Deposits 98 4 ------------------------------------- -------------- ------------- Total adjustments (2,653) 15,972 ------------------------------------- -------------- ------------- Net cash provided by operating activities 7,807 27,548 Net cash used in investing activities (1,589) (480) Net cash used in financing activities (9,135) (26,558) Effect of exchange rate changes on cash and cash equivalents (211) (195) ------------------------------------- -------------- ------------- (Decrease) increase in cash and cash equivalents ($3,128) $315 ===================================== ============== ============= Common stock repurchase ($7,801) ($24,449) RCM Technologies, Inc. Tel: 856.356.4500 Corporate Contacts: ----------------------- 2500 McClellan Avenue info@rcmt.com Bradley S. Vizi Pennsauken, NJ 08109 www.rcmt.com Executive Chairman ----------------------- Kevin D. Miller Chief Financial Officer ---------------
  

• *DJ RCM Tech 3Q EPS 35c >RCMT, from 14 hours ago by Dow Jones

  14 hours ago by Dow Jones
  Companies Mentioned: RCMT
  ---------------------------------------- -------------- ------------ (Unaudited) Current assets: Cash and cash equivalents $3,156 $6,284 Accounts receivable, net of provision for credit losses of $1,600 at September 28, 2024 and December 30, 2023 75,913 70,690 Transit accounts receivable 6,315 8,891 Prepaid expenses and other current assets 5,112 4,637 Total current assets 90,496 90,502 ----------------------------------------- ------------- ------------ Property and equipment, net 6,793 4,005 Deposits 215 313 Deferred income taxes, foreign 55 55 Goodwill 22,147 22,147 Operating right of use asset 5,292 2,779 Intangible assets, net 547 683 Total other assets 28,256 25,977 ----------------------------------------- ------------- ------------ Total assets $125,545 $120,484 ========================================= ============= ============ Current liabilities: Accounts payable and accrued expenses $11,525 $12,454 Transit accounts payable 28,215 31,102 Accrued payroll and related costs 11,634 11,203 Finance lease payable 689 233 Income taxes payable 220 330 Operating right of use liability 1,019 693 Contingent consideration from acquisitions 300 300 Deferred revenue 2,042 1,881 Total current liabilities 55,644 58,196 Deferred income taxes, net, foreign 185 187 Deferred income taxes, net, domestic 1,719 1,568 Finance lease payable, net of current position 1,290 - Contingent consideration from acquisitions, net of current position 1,671 1,671 Operating right of use liability, net of current position 4,519 2,268 Borrowings under line of credit 30,477 30,804 Total liabilities 95,505 94,694 ------------------------------------------------ -------- -------- Contingencies (note 15) - - Stockholders' equity: Preferred stock, $1.00 par value; 5,000,000 shares authorized; no shares issued or outstanding - - Common stock, $0.05 par value; 40,000,000 shares authorized; 17,833,287 shares issued and 7,597,028 shares outstanding at September 28, 2024 and 17,673,427 shares issued and 7,844,821 shares outstanding at December 30, 2023 890 882 Additional paid-in capital 118,136 116,579 Accumulated other comprehensive loss (2,787) (2,813) Accumulated deficit (8,805) (19,265) Treasury stock, 10,236,259 shares at September 28, 2024 and 9,828,606 shares at December 30, 2023, at cost (77,394) (69,593) ------------------------------------------------ -------- -------- Total stockholders' equity 30,040 25,790 ------------------------------------------------ -------- -------- Total liabilities and stockholders' equity $125,545 $120,484 ================================================ ======== ======== RCM Technologies, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) (In Thousands) Thirteen Weeks Ended ------------------------------------- ------------------------------ September 28, September 30, 2024 2023 ------------------------------------- -------------- ------------- Net income $2,746 $3,756 Adjustments to reconcile net income to cash used in operating activities 1,508 1,049 Changes in operating assets and liabilities: Accounts receivable (9,033) 4,143 Prepaid expenses and other current assets 321 (987) Net of transit accounts receivable and payable 435 1,556 Accounts payable and accrued expenses (1,445) (785) Accrued payroll and related costs 1,919 2,790 Right of use liabilities (228) (333) Income taxes payable 81 15 Deferred revenue (636) (169) Deposits (12) 2 -------------------------------------- ------------- ------------- Total adjustments (7,090) 7,281 -------------------------------------- ------------- ------------- Net cash (used in) provided by operating activities ($4,344) $11,037 Net cash (used in) provided by investing activities (522) 79 Net cash provided by (used in) financing activities 4,375 (11,343) Effect of exchange rate changes on cash and cash equivalents 167 (392) -------------------------------------- ------------- ------------- Decrease in cash and cash equivalents ($324) ($619) ====================================== ============= ============= Common stock repurchase ($2,410) ($3,389) Thirty-Nine Weeks Ended ------------------------------------ ------------------------------- September 28, September 30, 2024 2023 ------------------------------------ --------------- ------------- Net income $10,460 $11,576 Adjustments to reconcile net income to cash used in operating activities 4,200 2,795 Changes in operating assets and liabilities: Accounts receivable (5,207) (6,696) Prepaid expenses and other current assets (475) (675) Net of transit accounts receivable and payable (311) 22,384 Accounts payable and accrued expenses (760) (1,798) Accrued payroll and related costs 433 1,596 Right of use liabilities (686) (1,016) Income taxes payable (106) 162 Deferred revenue 161 (784) Deposits 98 4 ------------------------------------- -------------- ------------- Total adjustments (2,653) 15,972 ------------------------------------- -------------- ------------- Net cash provided by operating activities 7,807 27,548 Net cash used in investing activities (1,589) (480) Net cash used in financing activities (9,135) (26,558) Effect of exchange rate changes on cash and cash equivalents (211) (195) ------------------------------------- -------------- ------------- (Decrease) increase in cash and cash equivalents ($3,128) $315 ===================================== ============== ============= Common stock repurchase ($7,801) ($24,449) RCM Technologies, Inc. Tel: 856.356.4500 Corporate Contacts: ----------------------- 2500 McClellan Avenue info@rcmt.com Bradley S. Vizi Pennsauken, NJ 08109 www.rcmt.com Executive Chairman ----------------------- Kevin D. Miller Chief Financial Officer ---------------