RCM Technologies Q1 Earnings Decline, Shares Down Nearly 19%
Shares of RCM Technologies (RCMT) are down nearly 19% in afternoon trading after the company reported quarterly earnings. For the first quarter, the company reported earnings per share 52c on revenue of $83.04M, compared to 55c and $84.47M a year ago. Additionally, the company stated that its management, under the supervision and with the participation of the company's Principal Executive Officer and Principal Financial Officer, evaluated the effectiveness of the company's disclosure controls and procedures, and that as previously disclosed, the company identified deficiencies that existed as of January 3, 2026, and continued to exist at April 4, 2026. "Based on our evaluation, our Principal Executive Officer and Principal Financial Officer have concluded that the company's disclosure controls and procedures were not effective as of April 4, 2026, because of the material weaknesses in our internal control over financial reporting," the company said. To address these material weaknesses, management, with oversight from the Audit Committee, has commenced actions to enhance the company's control framework and policies, maintain evidence of control procedure operation, and improve its control environment. RCM Technologies shares are down 18.85% to $23.50 in afternoon trading.
