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RCM Technologies, Inc. Announces Results For The Thirteen And Thirty-Nine Week Periods Ended October 1, 2011

RCM Technologies, Inc. (NASDAQ: RCMT) today announced financial results for the thirteen and thirty-nine week periods ended October 1, 2011.

The Company announced revenues of $33.6 million for the thirteen week period ended October 1, 2011, decreased from $37.5 million for the thirteen week period ended October 2, 2010 (comparable prior year period). The Company had operating income of $0.7 million for the thirteen week period ended October 1, 2011 as compared to $1.9 million for the comparable prior year period. Net income for the thirteen week period ended October 1, 2011 was $0.7 million, or $0.06 per diluted share, as compared to net income of $1.2 million, or $0.09 per diluted share, for the comparable prior year period.

The Company announced revenues of $108.8 million for the thirty-nine week period ended October 1, 2011, decreased from $125.6 million for the thirty-nine week period ended October 2, 2010 (comparable prior year period). The Company had operating income of $4.8 million for the thirty-nine week period ended October 1, 2011 as compared to $6.7 million for the comparable prior year period. Net income for the thirty-nine week period ended October 1, 2011 was $3.1 million, or $0.24 per diluted share, as compared to net income of $4.7 million, or $0.36 per diluted share, for the comparable prior year period.

The Company announced that during the thirteen and thirty-nine weeks ended October 1, 2011, respectively, that the Company repurchased 201,998 and 396,539 shares of its common stock under its existing common stock repurchase plan. The Company’s Board of Directors approved a share repurchase plan of up $7.5 million of the Company’s outstanding shares of common stock in February 2010 and extended in February 2011 through February 2013. Through November 7, 2011 the Company has purchased a total 579,570 shares under this plan for an aggregate of $2.7 million, an average price of $4.58 per share.

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