RCM Technologies sees bleak 1Q results

RCM Technologies said late Wednesday that it first-quarter sales and earnings will fall significantly short of analysts' estimates. Its shares closed off 13/16 to 15 1/4 ahead of the announcement but dropped to 10 7/8 in after-hours trading.

RCM (Nasdaq: RCMT) said it now expects earnings of between 15 cents to 18 cents a share in the quarter.

First Call consensus pegged the company for a profit of 30 cents a share.

Last quarter, it posted a profit of $4 million, or 37 cents a share, on sales of $83.6 million.

For the year, it earned $14.9 million, or $1.37 a share, on sales of $313.3 million.

Its shares hit a 52-week high of 19 1/8 in January after falling to a low of 10 1/16 in October.

All four of the analysts tracking the stock maintain either a "buy" or "strong buy" recommendation.

RCM will report it earnings by May 3.>