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Resources Connection revenue up 6.8%

October 03 2008

Resources Connection Inc. (NASD: RECN) reported a 6.8% increase in revenue to $207.3 million for its fiscal first quarter ended Aug. 30.

The Irvine CA-based company, which provides finance and accounting, information technology and legal personnel through its Resources Global Professionals subsidiary, said U.S. revenue was flat for the quarter. International revenue, however, rose 26.5%, it said.

Gross margin improved to 39.0% from 37.9%.

First-quarter net income increased 7.9% to $12.5 million from $11.6 million in the same period in the previous year.

"As we look forward, we will continue to face a challenging economic environment and volatility in world financial markets," said Thomas Christopoul, president and CEO of Resources. "We believe the enormous change taking place in the capital markets will present significant opportunities for us in the future; however, the timing of those opportunities will vary as companies work through the difficult business environment."

Resources Connection Inc. (NASD: RECN)
For the fiscal first quarter ended Aug. 30, 2008, compared with the same period in the previous fiscal year.
Revenue: $207.3 million, +6.8%
Net income: $12.5 million, +7.9%

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