General Employment Enterprises, Inc. today announced the financial results for the first quarter ended December 31, 2012, and

General Employment Enterprises, Inc. today announced the financial results for
     the first quarter ended December 31, 2012, and several other events






PR Newswire

OAKBROOK TERRACE, Ill., April 23, 2013

OAKBROOK TERRACE, Ill., April 23, 2013 /PRNewswire/ -- General Employment
Enterprises, Inc. (the "Company") (NYSE MKT: JOB) today announced the
financial results for the first quarter ended December 31, 2012, and several
other events.

Net revenues for the first quarter ended December 31, 2012, increased over
14.5% to approximately $14.6 million, compared to approximately $12.8 million
for the same period in the prior year. The increase in revenue was due to a
significant increase in revenue from contract services and direct hire
placements, which was partially offset by the loss of a major customer in the
Agriculture division. The increase in contract services was attributable to
Hurricane Sandy cleanup efforts, the opening of a new office and growing our
customer base.

Cost of contract services for the first quarter ended December 31, 2012,
increased by approximately 12% to approximately $10.4 million compared with
the prior period of approximately $9.3 million. The overall increase in cost
of contract services was directly related to the increase in revenue. The
decrease of approximately 1.6% of cost of contract services as a percentage of
contract services revenue was related to the increase in Professional Contract
services and the decrease in the agricultural business, the amount was
slightly off-set by an increase of Industrial Contract services to one
customer that has a lower than average margin.

With the filing of the financial statements for the first quarter ended
December 31, 2012, on form 10-Q, the Company received notice from the NYSE MKT
LLC ("NYSE MKT" or the "Exchange") staff stating that the Company has resolved
the continued listing deficiency with respect to Sections 134 and 1101 of the
NYSE MKT Company Guide referenced in a the Exchange's letter dated February
21, 2013.

On April 22, 2013 the Company finalized an Amendment to the Asset Purchase
Agreement by and among DMCC Staffing, LLC, an Ohio limited liability company,
RFFG of Cleveland, LLC an Ohio limited liability company (each a "Seller" and
together, "Sellers"), General Employment Enterprises, Inc., an Illinois
corporation ("Parent"), and Triad Personnel Services, Inc., an Illinois
corporation and wholly owned subsidiary of Parent ("Buyer").

In summary, the Company has agreed to pay Sellers additional cash
consideration of between $550,000 and $650,000 depending on payment schedule
and 1,100,000 shares of Parent common stock, which at the time was valued at
approximately $320,000 for full satisfaction of all amounts owed to Seller,
related to the Asset Purchase Agreement.

The Company completed a settlement with WORKERS COMP CLAIMS BWC PREMIUM CLAIMS
("BWC") with the payment of $56,501.05 on April 15, 2013. BWC and its agents,
attorneys, representatives and assigns, released and forever discharged BMPS,
Inc., Triad Personnel Services, Inc., and the Company from any and all claims,
rights, demands, actions, causes of action, debts and liabilities, whether
fixed or contingent, matured or unmatured, anticipated or unanticipated, known
or unknown, arising out of or in any way connected with any successor claim
involving RFFG or Cleveland, LLC and Ameritemps owed to the BWC and/or BWC
Policy/Risk No. 1570005-01.

Michael Schroering, Chief Executive Officer of General Employment Enterprises,
Inc., commented, "Since joining the Company late last year we have been
working to clean up the past issues, while also growing the Company. This
hard work is beginning to show in our financial results and with the
resolution of these issues. Management will continue our strategic
initiatives that are intended to return General Employment Enterprises to
sustained profitability and rapidly grow the Company over the next three

Andrew J. Norstrud, Chief Financial Officer of General Employment Enterprises,
Inc., commented, "During tough economic conditions we were able to continue to
grow the Company and maintain profitability. Our general and administrative
expenses are expected to be significantly higher than usual in the second
quarter ended March 31, 2013, due to the significant professional fees
incurred, including, but not limited to audit fees, consulting fees and legal
fees of more than $500,000." Mr. Norstrud also commented, "We are now able to
move on to the future and can focus our efforts on our strategic business

Business Information

General Employment Enterprises, Inc. (the "Company") was incorporated in the
State of Illinois in 1962 and is the successor to employment offices doing
business since 1893.The Company's segments consist of the following: (a)
professional placement services specializing in the placement of information
technology, engineering, and accounting professionals for direct hire and
contract staffing, (b) temporary staffing services in the agricultural
industry and (c) temporary staffing services in light industrial staffing.

Forward-Looking Statements

The statements made in this press release which are not historical facts,
including the preliminary financial results, are forward-looking
statements.Such forward-looking statements often contain or are prefaced by
words such as "will" and "expect." As a result of a number of factors, our
actual results could differ materially from those set forth in the
forward-looking statements. Certain factors that might cause our actual
results to differ materially from those in the forward-looking statements
include, without limitation, those factors set forth under the heading
"Forward-Looking Statements" in our annual report on Form 10-K for the fiscal
year ended September 30, 2011, and in our other filings with the SEC. General
Employment is under no obligation to (and expressly disclaims any such
obligation to) and does not intend to update or alter its forward-looking
statements whether as a result of new information, future events or otherwise.

-Tables Follow-



(In Thousands, Except Per Share Data)
                                              Three Months Ended December 31,
                                              2012               2011
Contract staffing services                    $   12,487         $   10,907
Direct hire placement services                    2,156              1,873
NET REVENUES                                      14,643             12,780
Cost of contract services                         10,437             9,322
Selling, general and administrative expenses      3,871              3,283
Amortization of intangible assets                 79                 100
INCOME FROM OPERATIONS                            256                75
Interest expense                                  (70)               (52)
NET INCOME                                    $   186            $   23
NET INCOME PER SHARE - BASIC                  $   0.01           $   0.00
NET INCOME PER SHARE - DILUTED                $   0.01           $   0.00
WEIGHTED AVERAGE NUMBER OF SHARES - BASIC         21,699             21,699
WEIGHTED AVERAGE NUMBER OF SHARES - DILUTED       22,107             21,928



(In Thousands)
                                                 December 31,   September 30,
                                                 2012           2012
Cash                                             $   247        $   364
Accounts receivable, less allowances (December       7,611          6,761
- $220; September - $259)
Other                                                216            246
Total current assets                                 8,074          7,371
Property and equipment, net                          563            518
Goodwill                                             1,106          1,106
Intangible assets, net                               2,125          2,204
TOTAL ASSETS                                     $   11,868     $   11,199
Short-term debt                                  $   3,095      $   2,404
Accounts payable                                     121            173
Accrued compensation                                 2,952          3,068
Other current liabilities                            1,216          1,196
Total current liabilities                            7,384          6,841
Long-term liabilities                                191            253
Commitments and Contingencies
Preferred stock; authorized - 100 shares; no         -              -
par value;issued and outstanding - none
Common stock, no-par value; authorized - 50,000
shares; issued and outstanding - 21,699 shares       10,455         10,453
at December 31, 2012 and September 30, 2012
Accumulated deficit                                  (6,162)        (6,348)
Total Shareholders' Equity                           4,293          4,105
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY       $   11,868     $   11,199

SOURCE General Employment Enterprises, Inc.

Contact: Michael K. Schroering, Chairman of the Board & Chief Executive
Officer, (630) 954-0400, Fax, (630) 954-0595,
Press spacebar to pause and continue. Press esc to stop.