Resources Connection on S&P SmallCap 600Tuesday, September 27, 2011
Irvine-based Resources Connection Inc. will become part of the S&P SmallCap 600 Index after the close of trading on Friday.
The company, which operates as Resources Global Professionals, provides lawyers, accountants and other professionals on a project basis.
The company’s shares jumped 9% during mid-day trading on the Nasdaq exchange, reaching a market value of $456.6 million.
The S&P SmallCap 600 covers about 3% of the domestic stock market.
A company must meet certain qualifications to be added to the index, including a market value of between $300 million and $1.4 billion, and four consecutive quarters of positive earnings according to Generally Accepted Accounting Principles standards.
Resources Global had about $533 million in revenue for the year ended in February. It has 82 offices around the globe in 21 countries. It counts about 2,900 employees companywide, with about 200 in Orange County.