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RCM Technologies, Inc. Announces Results For The Thirteen And Twenty-Six Week Periods Ended June 30, 2012

PENNSAUKEN, N.J., Aug. 13, 2012 (GLOBE NEWSWIRE) -- RCM Technologies, Inc. (Nasdaq:RCMT) today announced financial results for the thirteen and twenty-six week periods ended June 30, 2012.

The Company announced revenues of $35.8 million for the thirteen week period ended June 30, 2012, decreased from $36.5 million for the thirteen week period ended July 2, 2011 (comparable prior year period). The Company had operating income of $1.0 million for the thirteen week period ended June 30, 2012 as compared to $2.0 million for the comparable prior year period. Net income for the thirteen week period ended June 30, 2012 was $0.5 million, or $0.04 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 $74.0 million for the twenty-six week period ended June 30, 2012, decreased from $75.2 million for the twenty-six week period ended July 2, 2011 (comparable prior year period). The Company had operating income of $2.8 million for the twenty-six week period ended June 30, 2012 as compared to $4.1 million for the comparable prior year period. Net income for the twenty-six week period ended June 30, 2012 was $1.6 million, or $0.12 per diluted share, as compared to net income of $2.4 million, or $0.18 per diluted share, for the comparable prior year period.    

The Company announced that during the twenty-six week period ended June 30, 2012, the Company repurchased 750,014 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 to $7.5 million of the Company's outstanding shares of common stock in February 2010, which plan has been extended through February 2013. Through June 30, 2012 the Company has purchased a total of 1,341,800 shares under this plan for an aggregate of $6.8 million, an average price of $5.06 per share.

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