Resources Connection, Inc. Reports Second Quarter Results

Resources Connection, Inc. Reports Second Quarter Results Costa Mesa, Calif., December 18, 2002 -- Resources Connection, Inc. (NASDAQ: RECN), an international professional services firm that provides accounting and finance, human capital, information technology and internal audit services on a project basis, today announced financial results for its second quarter ended November 30, 2002.

Total revenues improved 9% to $50.2 million for the second quarter of fiscal 2003, from $46.1 million for the comparable quarter in fiscal 2002. These revenues were sequentially higher by 15% than the previous quarter of $43.5 million. Net income for the quarter ended November 30, 2002 was $3.3 million, or $0.15 per diluted share, compared to net income of $3.6 million or $0.16 per diluted share in the November 2001 quarter.

For the first six months of fiscal 2003, revenues were $93.7 million compared to $95.4 million for the six-month period in the prior year. Net income for the six months ended November 30, 2002 was $5.8 million, or $0.25 per diluted share versus $7.9 million, or $0.35 per diluted share, in the prior year period.

“We are pleased with the revenue results this quarter,” said Chairman and CEO Donald Murray. “Throughout the recession, our people have concentrated their efforts on helping clients deal with the complex problems they face and delivering to them consistently superior and enthusiastic service. We remain cautious because of the continuing uncertain economic environment but also foresee near-term demand from approaching year-end deadlines, the need for independent internal audit services and the requirements of the Sarbanes-Oxley Act.

“In October, we also completed the acquisition of The Procurement Centre LLC (TPC), a Houston–based provider of supply chain management services to companies on a project basis. Revenue from TPC from the date of acquisition to the end of the quarter was $1.6 million. Our clients will benefit from TPC’s services by gaining access to supply chain talent under a similar value proposition as other Resources Connection services.”

Resources Connection, Inc. is an international professional services firm that provides accounting and finance, human capital, information technology and procurement services on a project basis. The Company also provides internal audit, risk assessment, corporate governance and compensation consulting through its wholly owned subsidiaries. Headquartered in Costa Mesa, California, the company operates from 47 domestic offices and five international offices. More information about the company is available at www.resourcesconnection.com.

Resources Connection was founded in June 1996 by a team from Deloitte & Touche, and became independent in April 1999, following a management buyout. In December 2000, the Company completed its initial public offering and listed on NASDAQ. The U.S. client portfolio boasts more than 30 of the Fortune 50 companies. The company was recently named to Forbes Best 200 Small Companies list.

Resources Connection will hold a conference call for interested analysts and investors at 5:00 pm, EDT today, December 18, 2002. This conference call will be available for listening via a webcast on the Company’s Internet web site, at www.resourcesconnection.com.

Certain statements in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by words such as “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “should,” or “will” or the negative of these terms or other comparable terminology. Such statements and all phases of Resources Connection’s operations are subject to known and unknown risks, uncertainties and other factors, including seasonality, overall economic conditions and other factors and uncertainties as are identified in Resources Connection’s Form S-1, as amended (File No. 333-65272), Form 10-K for the year ended May 31, 2002, and Form 10-Q for the quarter ended August 31, 2002 (File No. 0-32113). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Resources Connection’s, and its industry’s, actual results, levels of activity, performance or achievements may be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. The Company undertakes no obligation to update the forward-looking statements in this press release.