Resources Connection Inc. (NASDAQ:RECN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Resources Connection Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 60% to $0.16 in the quarter versus EPS of $0.10 in the year-earlier quarter.
Revenue: Decreased 3.65% to $140.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Resources Connection Inc. reported adjusted EPS income of $0.16 per share. By that measure, the company beat the mean analyst estimate of $0.15. It missed the average revenue estimate of $141.65 million.
Quoting Management: “I am pleased that we were able to return $43.7 million to our shareholders during fiscal 2013 through our stock repurchase and dividend programs,” said Tony Cherbak, president and chief executive officer of RGP. “We look forward to seeing the benefit of some of our growth initiatives in fiscal 2014.”
Key Stats (on next page)…