RCM Technologies Inc. closed an Equity Buyback in the amount of $7.5 mm
January 04, 2013 at 04:00 am
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The Board of Directors of RCM Technologies, Inc. (Nasdaq: RCMT) authorized a share repurchase program on February 3, 2010. Under the program, RCM intends to repurchase up to $7.5 million of its common stock, from time to time over the next 12 months, depending on market conditions, share price and other factors. The repurchases may be made on the open market, in block trades or otherwise. The program may be suspended or discontinued at any time. The stock repurchase program will be funded using RCM's working capital. As of September 26, 2009, RCM had cash, cash equivalents and marketable securities of approximately $12 million and no debt. As of February 3, 2010, RCM had approximately 13,000,000 shares of common stock outstanding.
On February 22, 2012, the company extended the program through February 2013. Till September 29, 2012, the company repurchased 1,407,834 shares, representing 10.83% for $7.14 million.
RCM Technologies, Inc. completed the share repurchase program on January 4, 2013. Under the program, the company has repurchased 1,473,306 shares, representing 11.33% for approximately $7.5 million.
RCM Technologies, Inc. is a business and technology solutions provider through the deployment of engineering, specialty health care and information technology services. The Company operates through three segments: Specialty Health Care, Engineering, and Life Sciences and Information Technology services (LS&IT). The Specialty Health Care segment provides staffing solutions including medical health care professionals, health information management professionals, nurses, paraprofessionals, physicians, and therapists. The Engineering segment provides a comprehensive portfolio of engineering and design services across three verticals: energy services, process and industrial and aerospace. The LS&IT segment provides enterprise business solutions, application services, IT infrastructure solutions, life sciences solutions and other vertical-specific offerings. This segment also includes data solutions, digitization, recruiting process outsourcing, human capital management solutions, and more.
RCM TECHNOLOGIES, INC. 
