Resources Connection beats 1Q earnings and revenue expectations

MarketsAssociated Press

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.

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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