Rainmaker Reports Third Quarter Fiscal 2010 Results: EPS of ($0.20)

Rainmaker Systems, Inc. RMKR, a leading global provider of ecommerce solutions and telesales services that drive more revenue for clients and their channel partners, today reported financial results for the third quarter ended September 30, 2010. Net revenue in the third quarter of 2010 was $9.4 million, compared to net revenue in the preceding quarter of $9.3 million. Second quarter 2010 net revenue included approximately $1 million of revenue from discontinued programs. Excluding revenue from discontinued programs, second quarter adjusted net revenue was $8.3 million. Adjusted net revenue from continuing programs grew 14% sequentially from $8.3 million in the second quarter of 2010 to $9.4 million in the third quarter of 2010. See Exhibit A for a reconciliation of GAAP net revenue to adjusted net revenue. EPS of ($0.20)