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TRC Announces Third-Quarter Fiscal 2010 Financial Results

TRC Companies, Inc. (NYSE: TRR), a recognized leader in engineering, consulting, and construction management services to the energy, environmental, and infrastructure markets, today announced financial results for the fiscal three and nine months ended March 26, 2010.


Summary Results

Three Months Ended Nine Months Ended
26-Mar   27-Mar 26-Mar   27-Mar
(In millions, except per share data) 2010 2009 2010 2009
Gross revenue $ 82.1 $ 97.9 $ 246.7 $ 326.8
Net service revenue* $


$ 63.7 $ 165.8 $ 191.2
Goodwill and intangible asset write-offs







$ 21.4
Operating (loss) income $ (0.4 ) $ 1.2 $ (1.6 ) $ (17.1 )
Federal and state income tax (benefit) provision $ (0.4 ) $ 0.0 $ (4.8 ) $ (0.6 )
Net income (loss) applicable to TRC Companies, Inc.'s common shareholders $ (2.0 ) $ 0.5 $ 0.3 $ (18.8 )
Diluted earnings (loss) per common share $ (0.10 ) $ 0.03 $ 0.02 $ (0.98 )
Diluted weighted-average common shares outstanding 19,588 19,359 19,906 19,244

*The Company believes net service revenue, rather than gross revenue, best reflects the value of services provided to its customers and is the most meaningful indicator of TRC’s revenue performance.

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