A softer macroeconomic environment resulted in slower buying patterns from clients, according to professional staffing firm Resources Connection Inc. (NASDAQ: RGP). The Irvine, California-based company, which operates as RGP, reported revenue fell 15.0% year over year in its fiscal fourth quarter ended May 27 to a total of $184.5 million.

Still, RGP finished its fiscal year with organic growth, CEO Kate Duchene noted in a press release.

“These results — produced in a challenging macroenvironment — are a testament to our employees’ hard work and client receptivity to our agile co-execution model, which is purpose built to be an alternative to traditional partnership consulting models,” Duchene said.

RGP revenue was down 14.6% year over year when adjusted for currency and number of billing days. There were the same number of business days in North America during the fourth quarter as the same quarter a year ago. However, both Europe and the Asia Pacific region had one fewer business day each.

The company noted revenue was down only 11.5% — adjusted for currency and billing days — if its taskforce operations in Germany are excluded. RGP sold taskforce on May 31, 2022.

North America, which represents the lion’s share of sales, saw revenue decline 12.4%, while Asia Pacific revenue fell 7.9%. Europe revenue was down 44.6%.

Fourth-quarter gross margin narrowed, and net income declined.

Share price and market cap

Shares in RGP were up 2.44% to $16.80 as of 11:40 a.m. Eastern time today; shares were 19.74% above their 52-week low, according to FT.com. The company had a market cap of $551.5 million.