RCM Technologies, Inc. (NASDAQ:RCMT) Q1 2024 Earnings Conference Call May 9, 2024 11:30 AM ET

Company Participants

Brad Vizi - Executive Chairman
Kevin Miller - Chief Financial Officer

Conference Call Participants

Bill Sutherland - Benchmark
Alex Rygiel - B. Riley
Ben Andrews - Andrews Capital Management

Operator

Ladies and gentlemen, welcome to the RCM Technologies' First Quarter Earnings Update. I will now turn the program over to RCM Management.

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, 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 follow 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 quarter.

Brad Vizi

Thanks, Kevin. Good morning, everyone. As discussed in our prior call, the first quarter concluded as expected, with a seasonally slow start in January and acceleration as we moved through the quarter. Our breath of focus is both widening and deepening throughout the organization, with all teams executing on current initiatives while seeding new initiatives to propel growth well into the future.

Further galvanizing the strength of the platform, we have introduced the shared services team, whose mandate is to help streamline the strategic focus of our groups, strengthen collaboration, and enhance communication about the RCM platform.

Throughout the month, we will launch a much-improved digital initiative highlighting the mission critical work of each of our groups and helping distinguish us as what I believe to be one of a kind platform in the marketplace. Without further ado, I will get into updates on the progress of each of our teams starting with healthcare.

The healthcare division started 2024 with a continued emphasis on its core, excluding business we consider to be non-strategic, primarily consisting of a slow-paying, long-term care facility client we made the decision to reduce. Healthcare demonstrated solid double-digit top-line growth year-over-year.