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Resources Connection revenue up 1.4%

July 21 2010

Revenue rose 1.4% at Resources Connection Inc. (NASD: RECN) to $133.9 million in its fiscal fourth quarter ended May 29, 2010 from the same quarter a year ago.

The Irvine CA-based company provides finance and accounting, information technology and legal personnel through its Resources Global Professionals subsidiary.

U.S. revenue rose 7.4% on a year-over-year basis, according to the company.

Fourth-quarter gross margin improved to 41.4% from 38.2% in the year-ago quarter.

Resources Connection posted net income of $2.3 million, up from a net loss of $6.3 million in the fourth quarter of the previous year.

For its full fiscal year, the company reported revenue fell 27.2% to $499.0 million from $685.6 million in the previous year.

Full-year gross margin improved to 39.1% from 38.4%.

Resources Connection posted a net loss of $11.7 million for the full year compared with net income of $17.8 million in the previous year.

Resources Connection Inc. (NASD: RECN)
For the fiscal fourth quarter ended May 29, 2010, compared with the same period in the previous fiscal year.
Revenue: $133.9 million, +1.4%
Net income: $2.3 million vs. net loss of $6.3 million

For the full year ended May 29, 2010, compared with the previous fiscal year.
Revenue: $499.0 million, -27.2%
Net loss: $11.7 million vs. net income of $17.8 million

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