$RCMT
RCM TECHNOLOGIES, INC.

2016 Q3 Form 10-Q Financial Statement

#000070084117000018 Filed on August 10, 2017

View on sec.gov

Income Statement

Concept 2016 Q3
Revenue $45.38M
YoY Change 0.21%
Cost Of Revenue $33.28M
YoY Change 0.24%
Gross Profit $12.10M
YoY Change 0.12%
Gross Profit Margin 26.67%
Selling, General & Admin $10.18M
YoY Change -3.5%
% of Gross Profit 84.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $399.0K
YoY Change 19.46%
% of Gross Profit 3.3%
Operating Expenses $10.18M
YoY Change -3.5%
Operating Profit $1.528M
YoY Change 26.28%
Interest Expense -$90.00K
YoY Change -25.0%
% of Operating Profit -5.89%
Other Income/Expense, Net -$85.00K
YoY Change -27.97%
Pretax Income $1.443M
YoY Change 32.14%
Income Tax $580.0K
% Of Pretax Income 40.19%
Net Earnings $863.0K
YoY Change 25.25%
Net Earnings / Revenue 1.9%
Basic Earnings Per Share
Diluted Earnings Per Share $68.97K
COMMON SHARES
Basic Shares Outstanding 12.36M
Diluted Shares Outstanding 12.47M

Balance Sheet

Concept 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $200.0K
YoY Change -92.31%
Cash & Equivalents $234.0K
Short-Term Investments
Other Short-Term Assets $3.000M
YoY Change -9.09%
Inventory
Prepaid Expenses
Receivables $48.42M
Other Receivables $2.281M
Total Short-Term Assets $53.95M
YoY Change -23.98%
LONG-TERM ASSETS
Property, Plant & Equipment $4.611M
YoY Change 25.23%
Goodwill $11.63M
YoY Change 13.76%
Intangibles $206.0K
YoY Change 32.9%
Long-Term Investments
YoY Change
Other Assets $300.0K
YoY Change -57.14%
Total Long-Term Assets $12.18M
YoY Change 9.68%
TOTAL ASSETS
Total Short-Term Assets $53.95M
Total Long-Term Assets $12.18M
Total Assets $70.74M
YoY Change -17.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.50M
YoY Change -3.36%
Accrued Expenses $7.800M
YoY Change 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.68M
YoY Change 0.35%
LONG-TERM LIABILITIES
Long-Term Debt $14.90M
YoY Change -25.5%
Other Long-Term Liabilities $900.0K
YoY Change 12.5%
Total Long-Term Liabilities $15.80M
YoY Change -24.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.68M
Total Long-Term Liabilities $15.80M
Total Liabilities $36.73M
YoY Change -11.23%
SHAREHOLDERS EQUITY
Retained Earnings -$67.78M
YoY Change 11.38%
Common Stock $730.0K
YoY Change 2.96%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.50M
YoY Change 52.69%
Treasury Stock Shares $2.277M
Shareholders Equity $34.01M
YoY Change
Total Liabilities & Shareholders Equity $70.74M
YoY Change -17.51%

Cashflow Statement

Concept 2016 Q3
OPERATING ACTIVITIES
Net Income $863.0K
YoY Change 25.25%
Depreciation, Depletion And Amortization $399.0K
YoY Change 19.46%
Cash From Operating Activities $6.630M
YoY Change 172.84%
INVESTING ACTIVITIES
Capital Expenditures -$270.0K
YoY Change -27.03%
Acquisitions
YoY Change
Other Investing Activities $20.00K
YoY Change 0.0%
Cash From Investing Activities -$250.0K
YoY Change -30.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.220M
YoY Change
NET CHANGE
Cash From Operating Activities 6.630M
Cash From Investing Activities -250.0K
Cash From Financing Activities -6.220M
Net Change In Cash 160.0K
YoY Change -92.27%
FREE CASH FLOW
Cash From Operating Activities $6.630M
Capital Expenditures -$270.0K
Free Cash Flow $6.900M
YoY Change 146.43%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<div style="display: inline; font-family: times new roman; font-size: 10pt"><table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif; WIDTH: 100%; TEXT-INDENT: 0px;" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="WIDTH: 18pt; VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.</div></div></div></div></td> <td style="VERTICAL-ALIGN: top"> <div style=" MARGIN-BOTTOM: 0pt; TEXT-ALIGN: left; MARGIN-TOP: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">Contingencies </div></div></div></td> </tr> </table> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">From time to time, the Company is a defendant or plaintiff in various legal actions that arise in the normal course of business.&nbsp; As such, the Company is required to assess the likelihood of any adverse outcomes to these matters as well as potential ranges of losses and possible recoveries.&nbsp; The Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be covered by insurance as it pertains to some or all of these matters. A determination of the amount of the provision required for these commitments and contingencies, if any, which would be charged to earnings, is made after careful analysis of each matter.&nbsp; Once established, a provision <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>change in the future due to new developments or changes in circumstances, and could increase or decrease the Company&#x2019;s earnings in the period that the changes are made.&nbsp; Asserted claims in these matters sought approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$1.5</div></div> million in damages as of both <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 1, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016</div></div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. As of both <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 1, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>the Company accrued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">$0.5</div></div> million for such liabilities. </div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 18pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company is also subject to other pending legal proceedings and claims that arise from time to time in the ordinary course of its business, which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be covered by insurance.</div></div></div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4649000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-7766000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-551000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-642000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5330000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
7681000
CY2017Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7555000
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7370000
CY2017Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3829000
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-81000
CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-85000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-217000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-285000
us-gaap Net Income Loss
NetIncomeLoss
739000
us-gaap Net Income Loss
NetIncomeLoss
1864000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
189000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
863000
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
133000
us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
CY2017Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
11266000
CY2016Q3 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
10576000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
21980000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
21431000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
847000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
1528000
us-gaap Operating Income Loss
OperatingIncomeLoss
1885000
us-gaap Operating Income Loss
OperatingIncomeLoss
3349000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-3000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
481000
us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
258000
us-gaap Other Payments To Acquire Businesses
OtherPaymentsToAcquireBusinesses
713000
CY2017Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2370000
CY2016Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
4295000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
365000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1131000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
552000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
657000
CY2017Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1
CY2017Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2017Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2017Q3 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2017Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3079000
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3327000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
42569000
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
39818000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
192000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
188000
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10075000
CY2016Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10177000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20392000
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4052000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
428000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-46000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
46787000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
45928000
CY2017Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-67149000
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-67888000
CY2017Q3 us-gaap Revenues
Revenues
45512000
CY2016Q3 us-gaap Revenues
Revenues
45379000
us-gaap Revenues
Revenues
91853000
us-gaap Revenues
Revenues
92555000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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
0
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
192000
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
32213000
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
31255000
CY2017Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
1004000
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
537000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
20642000
us-gaap Share Based Compensation
ShareBasedCompensation
395000
us-gaap Share Based Compensation
ShareBasedCompensation
405000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
224463
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
268211
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
42000
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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 Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
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
0
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
42000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
42000
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.27
CY2017Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.27
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2017Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
2823172
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
2763860
CY2017Q3 us-gaap Treasury Stock Value
TreasuryStockValue
14987000
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
14622000
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
365000
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12069288
CY2016Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12465735
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12058362
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12508142
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11961967
CY2016Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12363811
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11954310
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12423179

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