Resources Connection, Inc. Expects Revenue Below Third Quarter Estimates
Resources Connection, Inc. Expects Revenue Below Third Quarter Estimates
Resources Connection, Inc. Expects Revenue Below Third Quarter Estimates
Costa Mesa, Calif., February 20, 2002 -- Resources Connection, Inc. (NASDAQ: RECN), an international professional services firm that provides accounting and finance, human capital and information technology services on a project basis, indicated today that revenue trends for the third quarter ending February 28, 2002, have been below analyst expectations, primarily as a result of weak demand during the holiday period and the continued weak economy. Since the holidays, revenue has returned to weekly run rates at or about the pre-holiday levels. However, the revenue levels experienced in January and early February have not expanded at rates similar to prior years. Accordingly, the combined impact of slow holiday results and flat revenue during the balance of the quarter will cause revenues for the fiscal 2002 third quarter to fall marginally short of the second quarter results.
Additionally, in February, the company celebrated the official grand opening of its London, England office and anticipates breakeven revenue levels in that new market by the end of the fiscal year, consistent with expectations.
The company will provide further details about the third quarter in its normal quarter-end press release and conference call scheduled after the market close on March 18, 2002.
Resources Connection, Inc. is an international professional services firm that provides accounting and finance, human capital and information technology services on a project basis. Headquartered in Costa Mesa, California, the company operates from 42 domestic offices and four international offices. More information about the company is available at http://www.resourcesconnection.com/.
Additionally, in February, the company celebrated the official grand opening of its London, England office and anticipates breakeven revenue levels in that new market by the end of the fiscal year, consistent with expectations.
The company will provide further details about the third quarter in its normal quarter-end press release and conference call scheduled after the market close on March 18, 2002.
Resources Connection, Inc. is an international professional services firm that provides accounting and finance, human capital and information technology services on a project basis. Headquartered in Costa Mesa, California, the company operates from 42 domestic offices and four international offices. More information about the company is available at http://www.resourcesconnection.com/.