Whether you need brains in people form or of the digital persuasion, RCM Technologies has it covered. The company is an IT services and staffing firm that performs design and implementation of technology and software systems, project management, and engineering analysis services. It also provides temporary and contract IT workers. In addition, RCM offers engineering consulting and staffing for office, clerical, and light industrial positions. The company mainly targets midsized firms and federal government agencies; clients have included the Treasury Department and its largest client, United Technologies.
RCM Technologies operates in three divisions - IT services, engineering, and staffing. It earns almost half of its revenues from IT services. Engineering services, which make up about a third of revenue, include projects in the electric utility, fossil fuel, and nuclear power industries, including restoring and refurbishing power generating stations, and the aerospace industry, including fixed and rotary aircraft designs. Engineering was the only division that saw revenues increase during 2009, and the company has a strong pipeline for new projects lined up through 2011.
Staffing services account for about 20% of revenue and have throughout the recession. Besides professional IT and office workers, the company has expanded into health care staffing and offers placement for physical therapists, occupational therapists, speech language pathologists, nurses, health care management professionals, and medical office support.
Unlike major IT players with global operations, RCM Technologies earns all of its revenues in North America. It maintains 33 offices in the US, three in Canada, and one in Puerto Rico. In mid-2010 the company opened it first location overseas in Ireland, where it will contract with multinational corporations in the life sciences sector. Ireland is home to a number of pharmaceutical manufacturing plants and biotech companies. RCM Technologies also maintains offshore facilities in India and Eastern Europe, where engineers work on IT projects for its North American clients.
The company has experienced decreased sales from the onset of the global economic recession and debt from recent acquisitions. Sales dropped almost 10% in 2009 -- IT services and staffing each fell 15%. While sales only dipped 2% in 2008, the company recorded a net loss for the first time in years. Net income was back up by 2009 and revenues stabilized in mid-2010.
In 2012 RCM acquired New Jersey-based engineering services provider BGA LLC to expand its engineering capabilities, particularly in the areas of energy delivery and management, architecture, and commercial construction.
RCM Technologies has two institutional stockholders that own more than 10% of the company's stock -- Columbia Wanger Asset Management owns 12% and FMR owns 10%. – less