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General Employment Reports Third Quarter Fiscal 2012 Results

General Employment Reports Third Quarter Fiscal 2012 Results

General Employment Enterprises, Inc. has reported a third quarter net income in fiscal 2012 of $79,000 or zero cents per diluted share on net revenues of $13,860,000 compared to net income of $222,000 or one cent per diluted share on net revenues of $11,717,000 in the third quarter of fiscal 2011. Earnings before interest, taxes, depreciation and amortization ("EBITDA") was $267,000 for the three months ended June 30, 2012 compared to $495,000 for the three months ended June 30, 2011.

Loss per diluted share for the nine months ended June 30, 2012 was two cents compared to earnings per diluted share of one cent in 2011. Net revenues for the period were $39,342,000 or a 54% increase from the prior year. EBITDA was $157,000 for the nine months ended June 30, 2012 and $789,000 for the nine months ended June 30, 2011.

Commenting on the Company's performance, Salvatore J. Zizza, Chairman of the Board & CEO stated, "We have seen significant overall revenue growth in the quarter, primarily in the Industrial services segment. We are pleased with the progress we made in improving our contract staffing margins, especially in our Professional segment. As we move forward, we expect to grow our top-line revenues to adequately leverage our selling, general and administrative expenses while actively evaluating potential acquisitions."

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