Irvine-based professional services company Resources Connection Inc. on Tuesday reported a quarterly profit in line with Wall Street expectations while revenue fell just short.
The company, which provides accountants, lawyers and other professionals to companies on a project basis, reported a profit of $2.3 million for the three months through May 29.
That reversed a loss of $6.3 million a year earlier.
The profit met what analysts were expecting on average.
Revenue came in at $133.9 million, up 1.4% from a year earlier and shy of the $134.9 million analysts were expecting on average.
U.S. revenue grew 7.4%, while sales in the rest of the world, led by Europe, fell 15%.
Chief Operating Officer Tony Cherbak called the results a “significant achievement by our offices around the world given the tough macroeconomic environment.”
Resources Connection is seen as a barometer of the health of big corporations.
As the economy rebounds, corporations are expected to turn to consultants such as Resources Connection as a prelude to hiring their own professionals.
The company’s results for the latest quarter suggest that trend is under way in the U.S. and has paused in Europe with debt and other issues there.
Resources Connection didn’t offer an outlook for the current quarter in its earnings release.
