RCM Technologies, Inc. (NASDAQ:RCMT) Q4 2021 Earnings Conference Call March 31, 2022 10:00 AM ET
Company Participants
Kevin Miller – Chief Financial Officer
Brad Vizi – Executive Chairman
Conference Call Participants
Alex Rygiel – B. Riley
Bill Sutherland – The Benchmark Company
Kevin Miller
Good morning, and thank you for joining us. This is Kevin Miller, Chief Financial Officer at 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. Our fourth quarter results serve as a nice bookend to 2021. As I reflect on our transformation plan dating back prior to the pandemic, I am proud of the team’s execution. The results speak for themselves broad-based strength across each of our divisions. Before we get into the numbers, I want to reflect on the year and why we are even more optimistic about the future.
We entered 2021 with the foundational pillars in place to support RCM’s next wave of growth. 2020 was clearly a year of recovery. We refined our processes and focus, upgraded our leadership ranks and we’re opportunistic in deploying capital driven by our improved balance sheet.
As a result, we entered 2021 in a position to capitalize on the foundation we built and worked to fortify through the pandemic. It was time to leverage the infrastructure that we had put in place and to tangibly demonstrate all the progress we have made and how it translates into material bottom line results.
First, our refined focus and commitment to process led to numerous improvements across our business. Consistency and scalability are what we strive for. And over the course of 2021, we took the next steps in getting there. Our decision to sell Canadian Power Systems unit was the direct result of our desire to streamline our focus on the right end markets, the right clients and the right solutions.