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RIGHT MANAGEMENT CONSULTANTS ANNOUNCES QUARTER AND SIX MONTH EARNINGS

 PHILADELPHIA, July 19 /PRNewswire/ -- Right Management Consultants, Inc. (NASDAQ: RMCI) today announced operating results for the second quarter and six months ended June 30, 1993.
 For the second quarter, earnings increased 127 percent to $741,000, or $.29 per share, vs. $326,000, or $.12 per share, for the same quarter last year. Revenue (consisting of company-owned office revenue and affiliate royalties) increased 32 percent for the quarter to $17,432,000, from $13,229,000 a year ago.
 For the six months ended June 30, 1993, earnings increased 91 percent to $1,185,000 or $.46 per share, vs. $621,000, or $.22 per share, for the same period last year. Revenue increased 24 percent for the six month period to $32,606,000, from $26,205,000 for the same period a year ago.
 Network revenue, comprised of company-owned office revenue and affiliate offices' revenue, increased 25 percent to $25,390,000 from $20,234,000 for the same quarter 1992. For the six months ended June 30, 1993, network revenue aggregated $48,146,000, an increase of 16 percent over network revenue of $41,392,000 for the same period last year.
 Right Management Consultants, Inc., which does business under the name Right Associates(R), develops, markets, and delivers career management and human resource consulting services through more than 100 offices in the United States, Canada and Europe, with primary emphasis in career transition consulting. Career transition consulting is designed to assist employers with employee termination issues and, after termination, to help separated employees develop skills and define career strategies to assist them in finding new employment.
 RIGHT MANAGEMENT CONSULTANTS, INC.
 (Unaudited)
 Quarter ended June 30 1993 1992
 Total revenue $17,432,000 $13,229,000
 Income before income taxes and
 extraordinary item 1,476,000 706,000
 Provision for income taxes(A) (735,000) (410,000)
 Income before extraordinary item 741,000 296,000
 Extraordinary item(A):
 Reduction of income taxes arising
 from utilization of an international
 subsidiary's operating loss
 carryforward --- 30,000
 Net income 741,000 326,000
 Earnings per share:
 Income before extraordinary item .29 .11
 Extraordinary item --- .01
 Net income .29 .12
 Weighted average number of shares
 outstanding 2,565,692 2,745,998
 Six months ended June 30 1993 1992
 Total revenue $32,606,000 $26,205,000
 Income before income taxes and
 extraordinary item 2,295,000 1,556,000
 Provision for income taxes(A) (1,110,000) (965,000)
 Income before extraordinary item 1,185,000 591,000
 Extraordinary item(A):
 Reduction of income taxes arising
 from utilization of an international
 subsidiary's operating loss
 carryforward --- 30,000
 Net income 1,185,000 621,000
 Earnings per share:
 Income before extraordinary item .46 .21
 Extraordinary item --- .01
 Net income .46 .22
 Weighted average number of shares
 outstanding 2,572,686 2,761,476
 (A) In the second quarter and six months ended June 30, 1992, no tax benefit was recognized for operating losses incurred by the company's French subsidiary of $347,000 and $579,000, respectively. Effective Jan. 1, 1993, the company changed the corporate structure of this subsidiary which resulted in any losses of this subsidiary being offset against other company income from that date. During the second quarter and six month periods ended June 30, 1993, this subsidiary incurred operating losses of $125,000 and $591,000. In addition, no tax benefit was recognized during the second quarter or six months ended June 30, 1993, for operating incurred by one of the company's Canadian subsidiaries in the amounts of $37,000 and $142,000, respectively. As of June 30, 1993, the company has net operating loss carryforwards of $1,460,000 in its French subsidiary, and $354,000 in one of its Canadian subsidiaries.
 ------
 Comparison of network revenue, comprised of company-owned office revenue and affiliate offices' revenue is as follows:
 (Unaudited)
 Periods ended Quarter Six months
 June 30 1993 1992 1993 1992
 Network revenue $25,390,000 $20,234,000 $48,146,000 $41,392,000
 /delval/
 -0- 7/19/93
 /CONTACT: G. Lee Bohs, chief financial officer of Right Management Consultants, 215-988-1588/
 (RMCI)


CO: Right Management Consultants, Inc. ST: Pennsylvania IN: SU: ERN

MJ-CC -- PH001 -- 2820 07/19/93 05:00 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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