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COMFORCE Corporation Reports Third Quarter 2010 Results

COMFORCE Corporation (NYSE Amex: CFS) ("COMFORCE" or the "Company"), a leading provider of outsourced staffing management services, specialty staffing and consulting services today reported results for its third quarter ended September 26, 2010.

The Company reported revenues rose 22.8% to $171.6 million for the third quarter of 2010, compared to revenues of $139.7 million for the third quarter of 2009. Sequentially, revenues for the third of quarter 2010 improved 4.9% from the prior quarter.

Gross profit for the third quarter of 2010 was $24.3 million, compared to gross profit of $19.9 million for the same period last year.

COMFORCE reported net income of $2.3 million for the third quarter of 2010, compared to $1.1 million for the third quarter of 2009. Net income available to common stockholders for the third quarter of 2010 was $2.1 million, or $0.12 per basic share and $0.07 per diluted share, compared to $804,000, or $0.05 per basic share and $0.03 per diluted share for the third quarter of 2009.

Note: on November 1, 2010, COMFORCE entered into a definitive merger agreement with an affiliate ("Merger Sub") of ABRY Partners, LLC ("ABRY") pursuant to which, and upon the terms and conditions thereof, Merger Sub will merge with and into COMFORCE with COMFORCE continuing as the surviving corporation and a wholly controlled subsidiary of ABRY. The merger is subject to the adoption of the merger agreement by the holders of at least a majority of COMFORCE's outstanding common stock and the satisfaction of certain other customary conditions which are set forth in the merger agreement.

About COMFORCE

COMFORCE Corporation is a leading provider of outsourced staffing management services that enable Fortune 1000 companies and other large employers to consolidate, automate and manage staffing, compliance and oversight processes for their contingent workforces. We also provide specialty staffing, consulting and other outsourcing services to Fortune 1000 companies and other large employers for their healthcare support, technical and engineering, information technology, telecommunications and other staffing needs.

Last Trade: 2.46 52 Week: 2.50 – 1.06Market Cap: 42.77 Million