RCM Technologies Q3 2021 Earnings Report
Key Takeaways
RCM Technologies announced strong Q3 2021 results, with a 44.1% increase in revenue compared to the same period last year. The company also experienced a significant improvement in profitability, with a GAAP operating income of $3.7 million compared to a GAAP operating loss of $0.2 million in the comparable prior year period.
Revenue increased by 44.1% to $45.5 million compared to the same period last year.
Gross profit increased by 38.5% to $12.2 million compared to the same period last year.
GAAP operating income was $3.7 million, a significant improvement from the $0.2 million operating loss in the comparable prior year period.
GAAP net income was $2.8 million, or $0.24 per diluted share, compared to a GAAP net loss of $0.2 million, or ($0.02) per diluted share, in the comparable prior year period.
RCM Technologies
RCM Technologies
RCM Technologies Revenue by Segment
Forward Guidance
The company expects to carry the momentum into the fourth quarter of 2021 and fiscal 2022 and anticipates a healthy uptick in debt during the fourth quarter as they invest in working capital.
Positive Outlook
- Excited to carry the momentum into the fourth quarter of 2021
- Excited to carry the momentum into fiscal 2022
- Expect a healthy uptick in debt during the fourth quarter
- Investing in working capital
- Ended the third quarter with a favorable net debt position
Revenue & Expenses
Visualization of income flow from segment revenue to net income