Resources Connection Inc. (NASDAQ: RGP) reported a challenging macroeconomic environment impacted revenue in its fiscal first quarter ended Aug. 26. New deals are taking longer to close with clients more hesitant to spend, according to the professional staffing provider, which operates as RGP.

First-quarter revenue was down 17.0% year over year on a constant currency, billing day adjusted basis.

“Our team produced revenue and profitability that was ahead of expectations, despite the ongoing pressures from the macro-environment and our typical, seasonally impacted first quarter,” CEO Kate Duchene said in a press release. “While project extensions have increased, new project wins remain challenged as clients continue to operate with increased conservatism.”

Duchene continued, “As we look ahead, we are highly focused on sourcing and closing every revenue opportunity, while remaining vigilant on improving our cost structure to better align with market conditions.”

The Irvine, California-based company reported revenue was down across geographies with the biggest decrease in its North American segment, where revenue fell 18.7% year over year when adjusted for constant currency and billing days. Europe was down 6.2% in the first quarter, while Asia Pacific revenue declined 3.0%.

Click on image to enlarge.

Share price

Shares in Resources Connection were down 6.9% to $13.48 as of 1:06 p.m. Eastern time today; they set a new 52-week low today when they reached $13.00, according to FT.com.