Resources Connection beats 1Q earnings and revenue expectations

Resources Connection Inc. (RECN) on Thursday reported fiscal first-quarter net income of $5.4 million.

On a per-share basis, the Irvine, California-based company said it had profit of 14 cents. Earnings, adjusted for severance costs, were 16 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The consulting company posted revenue of $143.4 million in the period, which also beat Street forecasts. Analysts expected $140.2 million, according to Zacks.

Resources Connection shares have increased slightly more than 1 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.54, a climb of 20 percent in the last 12 months.

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This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full RECN report: http://www.zacks.com/ap/RECN

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Keywords:Resources Connection,Earnings Report