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View All NewsResources Connection revenue up 26.5%
Professional staffing provider Resources Connection Inc. (NASD: RECN), which operates as Resources Global Professionals, reported revenue rose 26.5% in its fiscal first quarter 2019 ended Aug. 25.
The results include revenue from Chicago-based Accretive Solutions Inc., which was acquired by Resources Connection last December; the integration was completed in the first quarter. Revenue also includes last year’s acquisition of German professional services firm called “taskforce - Management on Demand AG.”
| (US$ thousands) | Q1 2019 | Q1 2018 | % change |
| Revenue | $178,558 | $141,186 | 26.5% |
| Gross margin | $68,151 | $53,698 | 26.9% |
| Gross margin percentage | 38.2% | 38.0% | |
| Net income | $5,741 | $2,112 | 171.8% |
US revenue rose 24.8% year over year; the company did not report growth excluding the Accretive Solutions acquisition.
European revenue increased 36.5%, or 35.8% constant currency; the increase was 8.6% when excluding the taskforce acquisition.
Asia-Pacific revenue rose 15.9% or 16.1% in constant currency
Share price and market cap
Shares in Resources Connection rose 14.64% to $18.83 as of 1:24 p.m. Eastern time today. The company had a market cap of $593.26 million.