Resources Connection Reports Financial Results for First Quarter Fiscal 2025
Resources Connection, Inc. (RGP)
Company Research
Source: Business Wire
IRVINE, Calif.--(BUSINESS WIRE)--Resources Connection, Inc. (Nasdaq: RGP) (the “Company”), a professional service firm, today announced its financial results for its first quarter of fiscal 2025 ended August 24, 2024.First Quarter Fiscal 2025 Highlights Compared to Prior Year Quarter:Revenue of $136.9 million compared to $170.2 million, a decline of 19.5%Same-day constant currency revenue, a non-GAAP measure, declined by 19.1%Gross margin of 36.5% compared to 39.4%Selling, general and administrative expenses (“SG&A”) of $48.9 million, net of $3.4 million gain on sale of the Irvine office building, improved 18.4% from $59.9 millionNet loss of $5.7 million (net loss margin of 4.2%), including goodwill impairment charge of $3.9 million related to the Europe and Asia Pacific segment, compared to net income of $3.1 million (net income margin of 1.8%)Diluted (loss) earnings per common share of $(0.17) compared to $0.09Adjusted EBITDA, a non-GAAP measure, of $2.3 million (Adjusted EBITDA
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