By Stephen Nakrosis
Shares of consulting firm Resources Connection were in the red in Wednesday’s after-hours trading, following the company’s release of first-quarter financial results that showed revenue and earnings per share both declining.
At 5:34 p.m. EDT, the stock was down 6.8% at $13.49. The stock touched a 52-week low of $140.3 on May 4 of this year.
Shares finished the day’s regular session with a loss of less than 1%, closing at $14.48.
After the bell, Resources Connection reported first-quarter earnings per share of nine cents on revenue of $170.2 million. In the year-ago period, the company reported EPS of 53 cents on revenue of $204.1 million.
Kate Duchene, the company’s chief executive, said “while project extensions have increased, new project wins remain challenged as clients continue to operate with increased conservatism. As we look ahead, we are highly focused on sourcing and closing every revenue opportunity, while remaining vigilant on improving our cost structure to better align with market conditions.”
Write to Stephen Nakrosis at [email protected]
Read the full article here
