$RCMT
RCM TECHNOLOGIES, INC.

2015 Q3 Form 10-Q Financial Statement

#000070084115000018 Filed on August 13, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q2
Revenue $45.29M $49.51M
YoY Change -2.36% 16.82%
Cost Of Revenue $33.20M $36.55M
YoY Change -0.08% 17.47%
Gross Profit $12.09M $12.96M
YoY Change -8.14% 15.03%
Gross Profit Margin 26.7% 26.17%
Selling, General & Admin $10.55M $9.653M
YoY Change 5.55% 7.57%
% of Gross Profit 87.23% 74.51%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $334.0K $277.0K
YoY Change -0.89% -1.42%
% of Gross Profit 2.76% 2.14%
Operating Expenses $10.55M $9.653M
YoY Change 5.55% 7.57%
Operating Profit $1.210M $3.025M
YoY Change -57.29% 76.49%
Interest Expense -$120.0K $40.00K
YoY Change -1300.0% -500.0%
% of Operating Profit -9.92% 1.32%
Other Income/Expense, Net -$118.0K $37.00K
YoY Change -2066.67%
Pretax Income $1.092M $3.062M
YoY Change -61.54% 80.12%
Income Tax $403.0K $1.045M
% Of Pretax Income 36.9% 34.13%
Net Earnings $689.0K $2.017M
YoY Change -63.29% 37.21%
Net Earnings / Revenue 1.52% 4.07%
Basic Earnings Per Share $0.05 $0.16
Diluted Earnings Per Share $0.05 $0.15
COMMON SHARES
Basic Shares Outstanding 12.71M 12.49M
Diluted Shares Outstanding 12.95M 12.68M

Balance Sheet

Concept 2015 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.600M $11.60M
YoY Change -68.67% -12.12%
Cash & Equivalents $2.646M $11.61M
Short-Term Investments
Other Short-Term Assets $3.300M $5.100M
YoY Change 0.0% 142.86%
Inventory
Prepaid Expenses
Receivables $60.85M $63.60M
Other Receivables $4.160M $0.00
Total Short-Term Assets $70.97M $80.30M
YoY Change -10.28% 14.22%
LONG-TERM ASSETS
Property, Plant & Equipment $3.682M $3.100M
YoY Change 8.29% 34.78%
Goodwill $10.22M
YoY Change
Intangibles $155.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $700.0K $1.500M
YoY Change -50.0% -28.57%
Total Long-Term Assets $11.10M $14.35M
YoY Change -27.15% 1.26%
TOTAL ASSETS
Total Short-Term Assets $70.97M $80.30M
Total Long-Term Assets $11.10M $14.35M
Total Assets $85.75M $94.65M
YoY Change -9.1% 12.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.90M $18.30M
YoY Change -24.2% 19.61%
Accrued Expenses $7.800M $10.20M
YoY Change -15.22% 59.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.61M $29.30M
YoY Change -21.05% 30.22%
LONG-TERM LIABILITIES
Long-Term Debt $20.00M $0.00
YoY Change
Other Long-Term Liabilities $800.0K $300.0K
YoY Change -27.27% -50.0%
Total Long-Term Liabilities $20.80M $300.0K
YoY Change 1790.91% -50.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.61M $29.30M
Total Long-Term Liabilities $20.80M $300.0K
Total Liabilities $41.38M $29.60M
YoY Change 52.13% 28.14%
SHAREHOLDERS EQUITY
Retained Earnings -$60.86M
YoY Change
Common Stock $709.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.529M
YoY Change
Treasury Stock Shares $1.477M
Shareholders Equity $44.37M $65.10M
YoY Change
Total Liabilities & Shareholders Equity $85.75M $94.70M
YoY Change -9.06% 12.07%

Cashflow Statement

Concept 2015 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income $689.0K $2.017M
YoY Change -63.29% 37.21%
Depreciation, Depletion And Amortization $334.0K $277.0K
YoY Change -0.89% -1.42%
Cash From Operating Activities $2.430M $6.720M
YoY Change -189.01% -2588.89%
INVESTING ACTIVITIES
Capital Expenditures -$370.0K -$910.0K
YoY Change -38.33% 68.52%
Acquisitions
YoY Change
Other Investing Activities $20.00K -$20.00K
YoY Change -300.0% -166.67%
Cash From Investing Activities -$360.0K -$930.0K
YoY Change -40.98% 86.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 180.0K
YoY Change -100.0% 260.0%
NET CHANGE
Cash From Operating Activities 2.430M 6.720M
Cash From Investing Activities -360.0K -930.0K
Cash From Financing Activities 0.000 180.0K
Net Change In Cash 2.070M 5.970M
YoY Change -165.92% -929.17%
FREE CASH FLOW
Cash From Operating Activities $2.430M $6.720M
Capital Expenditures -$370.0K -$910.0K
Free Cash Flow $2.800M $7.630M
YoY Change -231.46% 2725.93%

Facts In Submission

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NonoperatingIncomeExpense
37000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-253000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-25000
CY2015Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
10880000
CY2014Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
9930000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
21828000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
20149000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1210000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3025000
us-gaap Operating Income Loss
OperatingIncomeLoss
3565000
us-gaap Operating Income Loss
OperatingIncomeLoss
5063000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-1377000
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-294000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-1377000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-294000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1377000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1377000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-128000
CY2015Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
4160000
CY2015Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
3797000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
100000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
300000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
994000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1349000
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2015Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2015Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2015Q3 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2015Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2507000
CY2015Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2368000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
19000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
248000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
179000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
155000
CY2015Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7472000
CY2015Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9919000
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3682000
CY2015Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3297000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
621000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
456000
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-166000
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-60856000
CY2015Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-62933000
CY2015Q3 us-gaap Revenues
Revenues
45286000
CY2014Q2 us-gaap Revenues
Revenues
49509000
us-gaap Revenues
Revenues
93252000
us-gaap Revenues
Revenues
98078000
CY2015Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10546000
CY2014Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
9653000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
21178000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
19601000
us-gaap Share Based Compensation
ShareBasedCompensation
611000
us-gaap Share Based Compensation
ShareBasedCompensation
368000
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
89544
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
122484
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
27000
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.47
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
8000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
15000
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
49500
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
53000
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.65
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.88
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.30
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
5.27
us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
9.81
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3500
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
179000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
19000
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
44374000
CY2015Q1 us-gaap Stockholders Equity
StockholdersEquity
42865000
CY2015Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
373000
CY2015Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
860000
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
1476780
CY2015Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
1476780
CY2015Q3 us-gaap Treasury Stock Value
TreasuryStockValue
7529000
CY2015Q1 us-gaap Treasury Stock Value
TreasuryStockValue
7529000
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12945153
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12677972
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12932710
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12658398
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12711660
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12488420
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12710404
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12471712

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