Resources Connection Shares Dip on Revenue, Earnings DeclinesThursday, July 18, 2013
Irvine-based professional services firm Resources Connection Inc. reported a drop in revenue and earnings for its fiscal year through May.
Resources Connection operates through its Resources Global Professionals subsidiary, which is the largest management consulting firm based in Orange County.
The company had $556.3 million in revenue for its fiscal 2013, down nearly 3% from a year earlier.
Net income for the recent 12-month period was $20.5 million, half the year-ago profit.
Resources Connection had $140.2 million in revenue for its fiscal fourth quarter through May, down about 4% from the year-ago quarter. Profits totaled $5.3 million, down about 40%.
The company bought back about $12.3 million worth of shares of its common stock during the fiscal fourth quarter, and has $72.6 million remaining under its stock buyback program.
Resources Connection shares were up about 2% in afternoon trading Thursday to a market value of $527.07 million.