Resources Connection, Inc. Reports Financial Results for the Third Quarter of Fiscal Year 2021

Resources Connection, Inc. Reports Financial Results for the Third Quarter of Fiscal Year 2021

Revenue up 2.2% sequentially to $156.6 million compared to $153.2 million in the second quarter and as compared to $168.1 million in the prior year quarter Third Quarter Fiscal 2021 Highlights:

Same day constant currency revenue up 3.4% sequentially and off 10.4% from the prior year quarter Adjusted EBITDA margin of 6.0%, up 200 basis points compared to 4.0% in the prior year quarter

Adjusted diluted earnings per common share of $0.14 compared to $0.25 in the prior year quarter Available financial liquidity of $149.7 million as of February 27, 2021, up from $126.3 million as of May 30, 2020

Net income of $0.7 million, or $0.02 diluted earnings per common share, compared to $6.9 million in the prior year quarter, or $0.21 diluted earnings per common share, which included a discrete tax benefit of $6.6 million or $0.18 per diluted share SG&A improved 4.5% to $52.8 million compared to $55.3 million in the prior year quarter

Management Commentary Cash dividends declared of $0.14 per share, consistent with the prior year quarter

Third Quarter Fiscal 2021 Results Story continues “We again delivered sequential growth despite the typical holiday impact during our fiscal third quarter,” said Kate W. Duchene, chief executive officer. “I am especially proud of our progress expanding Adjusted EBITDA margin by 200 basis points year over year. As we look forward, we are rapidly strengthening our business reach especially in digital transformation, healthcare and financial advisory services. As the macro environment continues to evolve, we are experiencing increased interest from both new and existing clients around implementing an agile workforce strategy, and we are well-positioned to capture the multitude of opportunities as clients seek more cost flexibility in their human capital requirements and as talent demands more radical flexibility. RGP is truly built for the Now of Work.”

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  • Resources Connection, Inc. Reports Financial Results for the Third Quarter of Fiscal Year 2021

    , Resources Connection, Inc. Reports Financial Results for Third Quarter Fiscal 2021

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