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Jun 27, 2020
RCM Technologies Q2 2020 Earnings Report
RCM Technologies reported a decrease in revenue and experienced a net loss for the second quarter of 2020.
Key Takeaways
RCM Technologies reported a decrease in revenue by 35.6% and a GAAP net loss of $1.0 million, or $0.08 per diluted share, for the thirteen week period ended June 27, 2020. However, the company reduced its net debt by 51% in thirteen weeks and is pleased with the results against their COVID plan.
RCM Technologies reported revenue of $32.7 million, a 35.6% decrease compared to the prior year period.
The company experienced a GAAP operating loss of $1.2 million, compared to GAAP operating income of $2.2 million in the prior year period.
A GAAP net loss of $1.0 million, or $0.08 per diluted share, was reported, compared to GAAP net income of $1.3 million, or $0.10 per diluted share, in the prior year period.
Net debt was reduced by 51% in thirteen weeks, from $32.1 million to $15.7 million.
Revenue by Segment
Forward Guidance
RCM Technologies believes they performed well against their COVID plan and expects to reduce debt further during the third quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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