RCM Technologies(RCMT) - 2025 Q1 - Quarterly Results

Financial Performance - RCM Technologies reported revenue of $84.5 million for the thirteen weeks ended March 29, 2025, a 17.4% increase from $71.9 million in the prior year[3] - Gross profit for the current quarter was $22.0 million, reflecting a 7.9% increase compared to $20.4 million in the comparable prior quarter[3] - GAAP net income was $4.2 million, or $0.54 per diluted share, compared to $4.0 million, or $0.48 per diluted share, in the prior year[3] - Adjusted EBITDA for the current quarter was $7.8 million, up from $6.8 million in the comparable prior quarter[3] - The company experienced a gross profit margin of 26.0% for the current quarter, compared to 28.3% in the prior year[17] - Net income for the thirteen weeks ended March 29, 2025, was $4,186 million, an increase from $3,952 million in the same period of 2024, representing a growth of approximately 5.9%[21] Cash Flow and Debt Management - Cash flow from operations was $16.7 million, and net debt was reduced by $12.0 million during the quarter[4] - Net cash provided by operating activities increased significantly to $16,660 million, compared to $6,426 million in the prior year, marking a year-over-year increase of approximately 159.5%[21] - Total adjustments to reconcile net income to cash used in operating activities amounted to $12,474 million, up from $2,474 million in the previous year[21] - The company reported a net cash used in investing activities of $427 million, an improvement from $669 million in the prior year[21] - Net cash used in financing activities was $15,583 million, compared to $9,714 million in the same period last year, indicating an increase of approximately 60.5%[21] - The effect of exchange rate changes on cash and cash equivalents resulted in a decrease of $198 million, slightly better than the $228 million decrease in the previous year[21] Shareholder Equity and Stock Management - The company reduced its diluted weighted average shares outstanding from 8,170,839 to 7,741,481[10] - Stockholders' equity increased to $34.6 million from $33.5 million, reflecting a positive trend in financial health[19] - The company repurchased common stock amounting to $3,188 million during the period[21] - Retirement of common shares was recorded at $939 million, down from $1,317 million in the same period last year[21] Asset and Liability Management - Total current assets decreased from $97.0 million to $86.0 million, while total liabilities decreased from $98.6 million to $86.4 million[19] - Accounts receivable increased to $9,558 million, compared to a decrease of $2,802 million in the previous year, indicating a significant change in working capital[21] - Deferred revenue decreased to $356 million from $1,633 million in the prior year, reflecting changes in customer contracts and revenue recognition[21] Segment Performance - RCM Technologies' Life Sciences segment generated $43.3 million in revenue, while the Engineering segment contributed $32.1 million[17]