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RCM Technologies, Inc. Announces Results For The Thirteen Weeks Ended April 3, 2010

RCM Technologies, Inc. (NASD:RCMT) today announced financial results for the thirteen week period ended April 3, 2010.

The Company announced revenues of $49.1 million for the thirteen week period ended April 3, 2010, increased from $46.7 million for the thirteen week period ended March 28, 2009 (comparable prior year period). Net income from continuing operations was $2.4 million for the thirteen week period ended April 3, 2010, or $0.18 per diluted share, compared to $5.6 million, or $0.44 per diluted share, for the comparable prior year period. Net income for the thirteen week period ended April 3, 2010 was $1.8 million, or $0.14 per diluted share, as compared to net income of $5.6 million, or $0.43 per diluted share, for the comparable prior year period. The Company recorded legal settlement proceeds of $9.8 million, or $5.8 million net of income tax expense, for the thirteen week period ended March 28, 2009. The legal settlement resulted in an increase to earnings per diluted share of $0.45.

The Company had operating income from continuing operations for the thirteen week period ended April 3, 2010 of $2.0 million, or $0.16 per diluted share, up from an operating loss from continuing operations of $0.3 million, or $0.02 per diluted share, for the comparable prior year period.

The Company had a net loss from discontinued operations, net of tax benefit of $0.6 million, or $0.04 per diluted share, for the thirteen week period ended April 3, 2010, as compared to a loss from discontinued operations, net of tax benefit of $0.1 million, or $0.01 per diluted share, for the comparable prior year period. In March 2010 the Company closed its Oracle business unit located in southern California. The closed business unit sold Oracle software applications and provided implementation, hosting and maintenance services for the suite of Oracle and related software applications.

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