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US – Resources Connection Revenue Falls 0.8%

October 03 2012

Resources Connection Inc. (NASD: RECN), a provider of finance/accounting, legal and IT staffing along with other services, reported revenue fell 0.8 percent to $136.9 million in its fiscal first quarter ended Aug. 25 compared to the same period in the previous year. Irvine, Calif.-based Resources Connection provides services through its Resources Global Professionals subsidiary.

U.S. revenue rose 4.5 percent on a year-over-year basis, but international revenue fell 15.1 percent. The decrease in international revenue was partially influenced by the stronger dollar compared to European currencies; the decline would be 7.9 percent on a constant dollar basis. 

First-quarter gross margin improved to 39.0 percent from 37.8 percent in the prior year’s first quarter.

Resource Connection’s first-quarter net income rose 86.1 percent to $4.8 million from $2.6 million in the year-ago quarter.


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