Fourth-quarter revenue at RCM Technologies Inc. (NASDAQ: RCMT) rose 1.1% year over year to $71.0 million. The biggest growth came in the Pennsauken, New Jersey-based staffing firm’s life sciences and IT segment, where revenue rose 13.9%.
RCM’s specialty healthcare segment also posted an increase, rising 2.5%. However, its engineering staffing segment posted a 6.2% decline.
“We finished 2023 strong with $8.9 million of adjusted EBITDA in the fourth quarter, a growth rate of 18.5%,” Executive Chairman Bradley Vizi said in a press release. “All three business segments provided healthy contributions to growth.”
Share price
Shares in RCM Technologies were down 25.90% to $21.32 as of 12:04 p.m. Eastern time today. During the past year, they traded in a range of between $20.53 and $26.27.