RCM Technologies, Inc. (NASDAQ:RCMT) Q4 2022 Results Conference Call March 16, 2023 11:00 AM ET
Company Participants
Kevin Miller - CFO
Brad Vizi - Executive Chairman
Alex Rygiel - B. Riley Securities
Conference Call Participants
William Sutherland - The Benchmark Company
Kevin Miller
Good morning, and thank you for joining us. This is Kevin Miller, Chief Financial Officer of RCM Technologies. I am joined today by Brad Vizi, RCM's Executive Chairman.
Our presentation in this call will contain forward-looking statements. The information contained in the forward-looking statements is based on our beliefs, estimates and assumptions and information currently available to us, and these matters may materially change in the future. Many of these beliefs, estimates and assumptions are subject to rapid changes.
For more information on our forward-looking statements and the risks, uncertainties and other factors to which they are subject, please see the periodic reports on Forms 10-K, 10-Q and 8-K that we file with the SEC as well as our press releases that we issue from time to time.
I will now turn the call over to Brad Vizi, Executive Chairman, to provide an overview of RCM's operating performance during the fourth quarter.
Brad Vizi
Thanks, Kevin. Good morning, everyone.
RCM closed 2022 on a high note despite an increased drumbeat of adverse economic prognostications over the last 12 months. Also of note, Q4 was our second consecutive quarter lapping a year-over-year pandemic-related comparable period. Our society and labor markets transition to a more normalized labor environment.
Again, growth and value creation remain a testament to the strength of RCM's client-first platform, secular-end markets and devoted-employee base.
I will now reflect on progress made within each of our businesses. In 2022, significant progress was made by RCM's Health Care division in building school health care staffing. As policymakers and educators recognized the importance of providing comprehensive health care services to students. Many school districts nationwide faced significant staffing shortages further highlighting underinvestment in the nation's social infrastructure. The pandemic brought increased focus on health and safety in schools, highlighting the need for trained health care professionals to care for students.
In response, many schools are working to improve their staffing, including hiring more nurses, therapists and behavioral health providers. A significant development in school health care staffing was expanding mental and behavioral health services. There has been growing concern about student's mental health in recent years, especially considering the COVID-19 pandemic.