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View All NewsWorld – Resources 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 25 August 2018.
The results include revenue from US-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.”
(USD 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% | N/A |
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
Shares in Resources Connection were $16.43 on Wednesday, down 0.72% on the day. Based on its current share price the company has a market cap value of $600.26 million.