Resources Connection Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended May 27, 2017; Provides Effective Tax Rate Guidance for the First Quarter Fiscal 2018
July 20, 2017 at 04:05 pm EDT
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Resources Connection Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended May 27, 2017. For the quarter, the company reported revenue of $148,620,000 against $152,515,000 a year ago. Operating income before amortization and depreciation was $9,616,000 against $16,539,000 a year ago. Operating income was $8,675,000 against $15,678,000 a year ago. Income before provision for income taxes was $8,335,000 against $15,746,000 a year ago. Net income was $4,437,000 or $0.15 per diluted share against $8,667,000 or $0.23 per diluted share a year ago. EBITDA was $9,616,000 against $16,539,000 a year ago. Adjusted EBITDA was $11,026,000 against $17,791,000 a year ago. Capital expenditures were $0.7 million during the quarter, net of landlord reimbursements.
For the full year, the company reported revenue of $583,411,000 against $598,521,000 a year ago. Operating income before amortization and depreciation was $37,854,000 against $57,360,000 a year ago. Operating income was $34,402,000 against $53,803,000 a year ago. Income before provision for income taxes was $33,773,000 against $53,989,000 a year ago. Net income was $18,651,000 or $0.56 per diluted share against $30,443,000 or $0.81 per diluted share a year ago. EBITDA was $37,854,000 against $57,360,000 a year ago. Adjusted EBITDA was $43,922,000 against $63,640,000 a year ago. Cash flow from operating activities was $28,265,000 against $38,262,000 a year ago.
For the first quarter fiscal 2018, the company expects effective tax rate to stay in the upper 40%.
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 Fourth Quarter and Full Year Ended May 27, 2017; Provides Effective Tax Rate Guidance for the First Quarter Fiscal 2018