Mixed results for Resources Connection in Q2 2016
Resources Connection, Inc. has announced financial results for its second fiscal quarter ended 28th November 2015.
Revenue for the second quarter of fiscal 2016 decreased 0.4% to $150.9m compared to the prior year's second quarter of $151.5m. On a sequential basis, second quarter revenue increased 1.8% compared to $148.3m in the first quarter of fiscal 2016.
Using the comparable second quarter fiscal 2015 conversion rates to adjust for the impact of currency fluctuations, fiscal 2016's second quarter revenue would have been $154.0m, up 1.7% quarter-over-quarter.
Revenue in the U.S. increased 0.2% quarter-over-quarter and 1.2% sequentially. International revenue decreased 3.4% on a quarter-over-quarter basis and increased 4.0% sequentially.
The Company's net income in the second quarter of fiscal 2016 improved to $8.7m, or $0.23 per diluted share, compared to the prior year's second quarter net income of $8.0m, or $0.21 per diluted share.
Gross margin was 39.0% in the second quarter of fiscal 2016, compared to 39.2% in the prior year quarter.
Tony Cherbak, president and chief executive officer of RGP, said, "I am pleased with the profitability metrics we achieved during the second quarter and encouraged by the improvement in our December revenue trends.
"We continue to make progress internationally with constant currency revenue growth in Asia Pacific and Europe quarter-over-quarter of 17.7% and 3.0%, respectively."