Resources Connection Inc. (NASD: RECN) reported revenue fell 3.8 percent year over year (3.4 percent on a constant dollar basis) to $132.7 million in its fiscal third quarter ended Feb. 22. The Irvine, Calif.-based company’s operating subsidiary is Resources Global Professionals. It provides professionals specializing in accounting, finance, risk management, internal audit, information management, legal and other areas.

“While our revenues for the third quarter were clearly impacted by the additional major holiday (Thanksgiving) and severe winter weather in the U.S., they were also hurt by continued weakness in Europe,” said Tony Cherbak, president and chief executive officer of RGP. “As a result, we will take a charge for severance, estimated at $2.8 million or $0.07 per share, in our fourth quarter. We expect these headcount reductions to result in annual savings of $4.5 million or $0.12 per share beginning in fiscal 2015.”

U.S. revenue fell 2.4 percent year over year to $103.4 million; the company said it was unfavorably impacted by an estimated $3.3 million because the Thanksgiving holiday fell in the third quarter this year but occurred in the second quarter last year. International revenue fell 8.7 percent year over year.

“U.S. weekly revenues the first four weeks of our fourth quarter have trended 4.4 percent higher than the comparable weeks a year ago,” said Don Murray, executive chairman of RGP. “We are pleased with the traction we are getting in the U.S. and hope that, over time, this momentum will expand internationally.”

Third-quarter gross margin narrowed to 36.0 percent from 37.1 percent in the same quarter last year. The decline in gross margin quarter-over-quarter was primarily attributable to the Thanksgiving holiday falling in the third quarter and a slight decrease in the current quarter's bill rate/pay rate ratio.

Resource Connection’s third-quarter net income fell 49.3 percent to $2.3 million from $4.5 million in the same quarter last year.

Shares in Resource Connection were down 5.47 percent in early afternoon trading to $13.89, and Resource Connection has a market cap of approximately $542.13 million, according to Yahoo!