RCM Technologies Q2 Revenue Beats by 15% on Engineering, Healthcare Growth
RCMT sits 76% above its 52-week low of $17.26.
Summary
RCM Technologies reported Q2 revenue of $93.82M, beating the $81.73M consensus by 15%, driven by a 49% jump in engineering segment revenue to $39.5M and a 4% increase in specialty healthcare to $44.7M. Adjusted EPS rose 19% year-over-year. The company did not provide guidance. This follows the 10-Q filed earlier today, which also disclosed material weaknesses in internal controls and a new CFO 10b5-1 selling plan. The revenue beat is material for a $205M market cap company, but the lack of guidance and ongoing control issues temper the positive signal.
At the time of this announcement, RCMT was trading at $30.43 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $205M. The 52-week trading range was $17.26 to $32.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.