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CTG 3Q income up 9.9%

October 24 2007

CTG (NASD: CTGX), an IT staffing and solutions company, chalked up 3Q revenue of $80.6 million, up 0.9% from $79.8 million reported in the same quarter in 2006. Net income was $914,000, an increase of 9.9% from $832,000 generated in the same period last year.

"This quarter's increase in revenue reflects solid contributions from our growing solutions business," said Chairman and CEO Jim Boldt. "CTG's new business activity remains robust and is strongest in our European operations and in our expanding healthcare vertical. This vertical provides a significant growth opportunity for CTG as we expand our business supporting the U.S. healthcare payer market."

The company  issued guidance for the fourth quarter of 2007 with revenue expected to range from $83 million to $85 million. The Company projects 2007 fourth quarter net income per diluted share before merger evaluation costs will range from $0.08 to $0.10. This includes costs related to merger evaluation. The company has rejected two acquisition proposal from RCM Technologies Inc. (NASD: RCMT).

For the third quarter ended Sept. 30, compared with the same period in 2006

Revenue: $80.6 million, +0.9%
Net income: $914,000, 9.9%


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