Nevada
(State or Other
Jurisdiction of
Incorporation)
|
1-10245
(Commission File
Number)
|
95-1480559
(I.R.S. Employer
Identification No.)
|
2500 McClellan Avenue, Suite 350
|
||
Pennsauken, NJ
|
08109-4613
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
[ ]
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
|
[ ]
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
|
[ ]
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240-14d-2(b)).
|
[ ]
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c)).
|
Item 2.02.
|
Results of Operations and Financial Condition.
|
Exhibit Number
|
|
99
|
Press Release by the Registrant, dated May 10, 2016, furnished in
accordance with Item 2.02 of this Current Report on Form 8-K.
|
By:
|
/s/ Kevin D. Miller
|
Kevin D. Miller
|
|
Chief Financial Officer, Treasurer and
Secretary
|
Exhibit Number
|
Exhibit Title
|
99
|
Press Release by the Registrant, dated May 10, 2016, furnished in
accordance with Item 2.02 of this Current Report on Form 8-K.
|
RCM Technologies, Inc.
|
Tel: 856.356.4500
|
Corporate Contacts:
|
2500 McClellan Avenue
|
Fax: 856.356.4600
|
Rocco Campanelli
|
Pennsauken, NJ 08109
|
info@rcmt.com
|
President & CEO
|
www.rcmt.com
|
Kevin D. Miller
|
|
Chief Financial Officer
|
Thirteen Week Periods Ended
|
||||
April 2,
2016
|
April 4,
2015
|
|||
Revenues
|
$47,176
|
$47,966
|
||
Cost of services
|
34,500
|
34,663
|
||
Gross profit
|
12,676
|
13,303
|
||
Selling, general and administrative
|
10,465
|
10,632
|
||
Depreciation and amortization
|
390
|
316
|
||
Operating income
|
1,821
|
2,355
|
||
Other (expense) income, net
|
(200
|
)
|
(135
|
)
|
Income before income taxes
|
1,621
|
2,220
|
||
Income tax expense
|
620
|
832
|
||
Net income
|
$1,001
|
$1,388
|
||
Diluted net earnings per share data
|
$0.08
|
$0.11
|
April 2,
2016
|
January 2,
2016
|
|||
(Unaudited)
|
||||
Cash and cash equivalents
|
$103
|
$985
|
||
Accounts receivable, net
|
$53,494
|
$50,946
|
||
Total current assets
|
$59,202
|
$64,529
|
||
Total assets
|
$76,242
|
$81,336
|
||
Total current liabilities
|
$21,819
|
$26,629
|
||
Borrowing under line of credit
|
$19,900
|
$21,000
|
||
Net debt (borrowings less cash)
|
$19,797
|
$20,015
|
||
Total liabilities
|
$42,955
|
$49,133
|
||
Stockholders’ equity
|
$33,287
|
$32,203
|
||
Treasury stock
|
$10,963
|
$10,365
|
Thirteen Week Periods Ended
|
|||||
April 2,
2016
|
April 4,
2015
|
||||
Net income
|
$1,001
|
$1,388
|
|||
Adjustments to reconcile net income to cash
provided by operating activities
|
715
|
1,135
|
|||
Changes in operating assets and liabilities
|
|||||
Accounts receivable
|
(2,222
|
)
|
(4,991
|
)
|
|
Prepaid expenses and other current assets
|
1,053
|
(68
|
)
|
||
Net of transit accounts receivable and payable
|
2,827
|
(2,106
|
)
|
||
Accounts payable and accrued expenses
|
(491
|
)
|
1,519
|
||
Accrued payroll and related costs
|
(1,813
|
)
|
(1,631
|
)
|
|
Income taxes payable
|
(16
|
)
|
(155
|
)
|
|
Total adjustments
|
53
|
(6,297
|
)
|
||
Cash provided by (used in) operating activities
|
$1,054
|
($4,909
|
)
|
||
Net cash used in investing activities
|
(393
|
)
|
(617
|
)
|
|
Net cash (used in) provided by financing activities
|
(1,545
|
)
|
108
|
||
Effect of exchange rate changes
|
2
|
(465
|
)
|
||
Decrease in cash and cash equivalents
|
($882
|
)
|
($5,883
|
)
|
Thirteen Week Period Ended April 2, 2016
|
||||||||
Engineering
|
Information
Technology
|
Specialty
Health Care
|
Consolidated
|
|||||
Revenue
|
$18,685
|
$12,740
|
$15,751
|
$47,176
|
||||
Cost of services
|
13,853
|
8,947
|
11,700
|
34,500
|
||||
Gross Profit
|
$4,832
|
$3,793
|
$4,051
|
$12,676
|
||||
Gross Margin
|
25.9
|
%
|
29.8
|
%
|
25.7
|
%
|
26.9
|
%
|
Thirteen Week Period Ended April 4, 2015
|
||||||||
Engineering
|
Information
Technology
|
Specialty
Health Care
|
Consolidated
|
|||||
Revenue
|
$22,791
|
$14,655
|
$10,520
|
$47,966
|
||||
Cost of services
|
17,164
|
10,097
|
7,402
|
34,663
|
||||
Gross Profit
|
$5,627
|
$4,558
|
$3,118
|
$13,303
|
||||
Gross Margin
|
24.7
|
%
|
31.1
|
%
|
29.6
|
%
|
27.7
|
%
|