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As Of Filer Filing For·On·As Docs:Size 3/04/20 RCM Technologies Inc 8-K:2,9 3/04/20 2:229K |
Document/Exhibit Description Pages Size 1: 8-K Form 8-K Press Release 3/4/20 HTML 16K 2: EX-99 Press Release 3/4/20 HTML 66K
RCM Technologies, Inc.
|
Tel: 856.356.4500
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Corporate Contacts:
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2500 McClellan Avenue
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Fax: 856.356.4600
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Bradley S. Vizi
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Executive Chairman
|
||
Kevin D. Miller
|
||
Chief Financial Officer
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Thirteen Week Periods Ended
|
||||
Revenue
|
$48,550
|
$55,271
|
||
Cost of services
|
35,893
|
42,239
|
||
Gross profit
|
12,657
|
13,032
|
||
Selling, general and administrative
|
10,225
|
10,477
|
||
Depreciation and amortization of property and equipment
|
317
|
326
|
||
Amortization of acquired intangible assets
|
80
|
85
|
||
Severance, professional fees and other charges
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-
|
200
|
||
Tax credit professional fees
|
47
|
371
|
||
Operating income
|
1,988
|
1,573
|
||
Other expense, net
|
(470
|
)
|
(517
|
)
|
Income before income taxes
|
1,518
|
1,056
|
||
Income tax expense
|
509
|
457
|
||
Net income
|
$1,009
|
$599
|
||
Diluted net earnings per share data
|
$0.08
|
$0.05
|
Fifty-Two Week Periods Ended
|
||||
Revenue
|
$191,100
|
$200,352
|
||
Cost of services
|
142,508
|
151,042
|
||
Gross profit
|
48,592
|
49,310
|
||
Selling, general and administrative
|
40,390
|
40,386
|
||
Depreciation and amortization of property and equipment
|
1,261
|
1,442
|
||
Amortization of acquired intangible assets
|
327
|
125
|
||
Severance, professional fees and other charges
|
-
|
1,571
|
||
Tax credit professional fees
|
47
|
371
|
||
Operating income
|
6,567
|
5,415
|
||
Other expense, net
|
(1,745
|
)
|
(1,507
|
)
|
Income before income taxes
|
4,822
|
3,908
|
||
Income tax expense
|
764
|
1,193
|
||
Net income
|
$4,058
|
$2,715
|
||
Diluted net earnings per share data
|
$0.31
|
$0.22
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(Unaudited)
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|||
Cash and cash equivalents
|
$1,847
|
$482
|
|
Accounts receivable, net
|
$59,760
|
$52,335
|
|
Total current assets
|
$70,657
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$58,811
|
|
Total assets
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$96,173
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$81,510
|
|
Total current liabilities
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$21,408
|
$23,188
|
|
Borrowing under line of credit
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$34,761
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$27,540
|
|
Net debt (borrowings less cash)
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$32,914
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$27,058
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Total liabilities
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$63,770
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$54,311
|
|
Stockholders’ equity
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$32,403
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$27,199
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Thirteen
Week Periods Ended
|
Fifty-Two
Week Periods Ended
|
|||||||
GAAP net income
|
$1,009
|
$599
|
$4,058
|
$2,715
|
||||
Income tax expense
|
509
|
457
|
764
|
1,193
|
||||
Interest expense
|
419
|
396
|
1,695
|
1,367
|
||||
Imputed interest on contingent consideration
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21
|
104
|
61
|
104
|
||||
Depreciation of property and equipment
|
317
|
326
|
1,261
|
1,442
|
||||
Amortization of acquired intangible assets
|
80
|
85
|
327
|
125
|
||||
EBITDA (non-GAAP)
|
$2,355
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$1,967
|
$8,166
|
$6,946
|
||||
Adjustments
|
||||||||
Severance, professional fees and other charges
|
-
|
200
|
-
|
1,571
|
||||
Tax credit professional fees
|
47
|
371
|
47
|
371
|
||||
Loss (gain) on foreign currency transactions
|
30
|
17
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(11
|
)
|
36
|
|||
Adjusted EBITDA (non-GAAP)
|
$2,432
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$2,555
|
$8,202
|
$8,924
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Thirteen Week Periods Ended
|
|||||
Net income
|
$1,009
|
$599
|
|||
Adjustments to reconcile net income to cash
used in operating activities
|
1,945
|
2,167
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|||
Changes in operating assets and liabilities:
|
|||||
Accounts receivable
|
(2,442
|
)
|
(6,017
|
)
|
|
Prepaid expenses and other current assets
|
(1,128
|
)
|
423
|
||
Net of transit accounts receivable and payable
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(1,216
|
)
|
(156
|
)
|
|
Accounts payable and accrued expenses
|
281
|
1,240
|
|||
Accrued payroll and related costs
|
644
|
430
|
|||
Right of use assets and liabilities
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(9
|
)
|
-
|
||
Income taxes payable
|
8
|
(814
|
)
|
||
Total adjustments
|
(1,917
|
)
|
(2,727
|
)
|
|
Cash used in operating activities
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(908
|
)
|
(2,128
|
)
|
|
Net cash used in investing activities
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(67
|
)
|
(1,160
|
)
|
|
Net cash provided by financing activities
|
2,467
|
3,081
|
|||
Effect of exchange rate changes
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(38
|
)
|
(21
|
)
|
|
Increase (decrease) in cash and cash equivalents
|
$1,454
|
($228
|
)
|
Fifty-Two Week Periods Ended
|
|||||
Net income
|
$4,058
|
$2,715
|
|||
Adjustments to reconcile net income to cash
used in operating activities
|
3,881
|
4,694
|
|||
Changes in operating assets and liabilities:
|
|||||
Accounts receivable
|
(7,626
|
)
|
(7,681
|
)
|
|
Prepaid expenses and other current assets
|
(645
|
)
|
(170
|
)
|
|
Net of transit accounts receivable and payable
|
(293
|
)
|
(1,716
|
)
|
|
Accounts payable and accrued expenses
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(3,085
|
)
|
1,021
|
||
Accrued payroll and related costs
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(1,342
|
)
|
1,335
|
||
Right of use assets and liabilities
|
236
|
-
|
|||
Income taxes payable
|
38
|
(262
|
)
|
||
Total adjustments
|
(8,836
|
)
|
(2,779
|
)
|
|
Cash used in operating activities
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(4,778
|
)
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(64
|
)
|
|
Net cash used in investing activities
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(363
|
)
|
(2,583
|
)
|
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Net cash provided by financing activities
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6,627
|
346
|
|||
Effect of exchange rate changes
|
(121
|
)
|
(68
|
)
|
|
Increase (decrease) in cash and cash equivalents
|
$1,365
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($2,369
|
)
|
Thirteen Week Period Ended December 28, 2019
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||||||||
Engineering
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Specialty
Health Care
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Information
Technology
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Consolidated
|
|||||
Revenue
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$15,095
|
$25,043
|
$8,412
|
$48,550
|
||||
Cost of services
|
10,729
|
19,069
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6,095
|
35,893
|
||||
Gross profit
|
$4,366
|
$5,974
|
$2,317
|
$12,657
|
||||
Gross profit margin
|
28.9
|
%
|
23.9
|
%
|
27.5
|
%
|
26.1
|
%
|
Thirteen Week Period Ended December 29, 2018
|
||||||||
Engineering
|
Specialty
Health Care
|
Information
Technology
|
Consolidated
|
|||||
Revenue
|
$23,666
|
$23,064
|
$8,541
|
$55,271
|
||||
Cost of services
|
17,782
|
18,038
|
6,419
|
42,239
|
||||
Gross profit
|
$5,884
|
$5,026
|
$2,122
|
$13,032
|
||||
Gross profit margin
|
24.9
|
%
|
21.8
|
%
|
24.8
|
%
|
23.6
|
%
|
Fifty-Two Week Period Ended December 28, 2019
|
||||||||
Engineering
|
Specialty
Health Care
|
Information
Technology
|
Consolidated
|
|||||
Revenue
|
$67,873
|
$89,348
|
$33,879
|
$191,100
|
||||
Cost of services
|
49,395
|
68,464
|
24,649
|
142,508
|
||||
Gross profit
|
$18,478
|
$20,884
|
$9,230
|
$48,592
|
||||
Gross profit margin
|
27.2
|
%
|
23.4
|
%
|
27.2
|
%
|
25.4
|
%
|
Fifty-Two Week Period Ended December 29, 2018
|
||||||||
Engineering
|
Specialty
Health Care
|
Information
Technology
|
Consolidated
|
|||||
Revenue
|
$86,078
|
$83,663
|
$30,611
|
$200,352
|
||||
Cost of services
|
63,488
|
64,860
|
22,694
|
151,042
|
||||
Gross profit
|
$22,590
|
$18,803
|
$7,917
|
$49,310
|
||||
Gross profit margin
|
26.2
|
%
|
22.5
|
%
|
25.9
|
%
|
24.6
|
%
|
This ‘8-K’ Filing | Date | Other Filings | ||
---|---|---|---|---|
3/5/20 | ||||
Filed on / For Period end: | 3/4/20 | |||
12/28/19 | ||||
12/29/18 | 10-K, 10-K/A | |||
List all Filings |