Resources Connection Inc. (NASDAQ: (RGP) stock surged by 2.08% at last close while RGP stock price gains by 4.73% in the after-hours trading session. RGP is a worldwide consulting organization that provides professional people and solutions to assist businesses to face transformation, change, and compliance problems.
RGP stock’ Financial Highlights
Resources Connection announced its financial results for the first quarter of fiscal 2021. Here’s the summary of the result:
- Revenue of $183.1 million, up 24.3 percent from the first quarter fiscal 2021, or 25.0 percent on a same-day constant currency basis, and a consecutive rise of 6.3 percent, or 8.5 percent on a same-day constant currency basis.
- SG&A as a percentage of revenue was 28.1 percent in the first quarter of fiscal 2021, up 660 basis points.
- In the first quarter of fiscal 2021, net income increased to $12.9 million (net income margin of 7.1 percent) from $2.3 million (net income margin of 1.6 percent).
- Adjusted EBITDA, a non-GAAP metric, grew to $22.4 million in the first quarter of fiscal 2021, up 530 basis points, generating an Adjusted EBITDA margin of 12.2 percent, up from $10.2 million in the first quarter fiscal 2021.
- In the first quarter of fiscal 2021, diluted earnings per common share increased to $0.39 from $0.07.
- For the first quarter of fiscal 2021, Cash dividends of $0.14 per share were announced.
Kate W. Duchene, the chief executive officer, stated that,
Their success in Q1 in assisting customers in their transition to more agile work was on track with their expectations. They have increased their top line to heights not seen in any first quarter period in over ten years while increasing their bottom line considerably. This level of achievement results from three years of transformational effort within the company and good macroeconomic conditions. Most significant markets and sector verticals, such as healthcare, financial services, and technology, have seen growth. Requirement and double-digit growth in their Veracity business were driven by digital transformation projects. Their business approach draws in-demand professionals who want more choice, transparency, and variety of experience, therefore they remain confident about their capacity to compete and win.
