Revenue at Resources Connection Inc. (NASD: RECN) rose 3.4% in its fiscal first quarter ended Aug. 29, an increase of 6.3% on a constant currency basis. US revenue rose 4.6% year over year to $121.1 million while international revenue fell 1.4% to $27.2 million (but rose 13.4% in constant currency).

Asia Pacific revenue rose 27.7% in constant currency, and European revenue rose 1.9% in constant currency.

The Irvine Calif.-based company ranks as the fifth-largest US provider of finance/accounting staffing. It also provides other services such as IT staffing. Its operating subsidiary is Resources Global Professionals.

The company recently announced its executive chairman was retiring to become a nonemployee chairman of the board.

Quote

“Based upon our weekly results for the three weeks subsequent to Labor Day week, we believe that we are currently in the process of the seasonal ramp up,” President and CEO Tony Cherbak said in a conference call with analysts. “We continue to see new work related to merger integration, data governance, revenue recognition, and regulatory compliance initiatives. We also believe the pipeline of these opportunities extends well into calendar 2016.

“Offsetting some of this new work, however, demand for our services within our energy clients continues to be pressured. On a quarter-over-quarter basis, our FY16 first-quarter revenues from the energy sector declined by approximately $2.6 million. Despite the pressures facing many of our clients in the energy sector and the macro noise in the business press related to the global economy, I remain very positive about our business through the remainder of FY16.”

Share price and market cap

Shares in Resources Connection rose by $1.47, or 9.16%, in early afternoon trading to $17.52. The company had a market cap of $650.74 million, according to Yahoo!