Resources Connection Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 28, 2015; Provides Tax Rate Guidance for the Third Quarter of Fiscal 2016
January 07, 2016 at 02:35 am IST
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Resources Connection Inc. announced unaudited consolidated earnings results for the second quarter and six months ended November 28, 2015. For the quarter, the company reported revenue of $150,887,000 against $151,496,000 a year ago. Operating income before amortization and depreciation was $15,705,000 against $15,859,000 a year ago. Operating income was $14,794,000 against $14,608,000 a year ago. Income before provision for income taxes was $14,828,000 against $14,647,000 a year ago. Net income was $8,676,000 or $0.23 per diluted share against $8,016,000 or $0.21 per diluted share a year ago. Adjusted EBITDA was $17,095,000 against $17,417,000 a year ago. 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 $154.0 million, up 1.7% quarter-over-quarter. Capital expenditures were $953,000 during the quarter. Cash flow from operations was $15.3 million. Pretax income was $14.8 million.
For the six months, the company reported revenue of $299,227,000 against $294,943,000 a year ago. Operating income before amortization and depreciation was $29,211,000 against $27,805,000 a year ago. Operating income was $27,412,000 against $25,276,000 a year ago. Income before provision for income taxes was $27,478,000 against $25,353,000 a year ago. Net income was $15,809,000 or $0.42 per diluted share against $13,411,000 or $0.35 per diluted share a year ago. Adjusted EBITDA was $32,756,000 against $30,909,000 a year ago. Cash flow from operating activities was $10,698,000 against $5,664,000 a year ago.
For the third quarter of fiscal 2016, the company anticipates a tax rate of approximately 44.5%.
Resources Connection, Inc. is a global consulting company. The Company operates through two segments: Resources Global Professionals (RGP) and Sitrick. RGP segment is a global business consulting firm focused on project execution services that power clientsâ operational needs and change initiatives with experienced and diverse talent. Sitrick segment is a crisis communications and public relations firm, which operates under the Sitrick brand, providing corporate, financial, transactional and crisis communication and management services. The Company serves its clients in support of projects and initiatives in an array of functional areas, including transactions, which includes integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; regulations, which includes accounting regulations, internal audit and compliance, and other, and transformations, which include finance transformation and other.
Resources Connection Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 28, 2015; Provides Tax Rate Guidance for the Third Quarter of Fiscal 2016