Resources Connection, Inc. Reports Fourth Quarter and Full Fiscal Year 2019 Financial Results

Fourth Quarter Fiscal 2019 Highlights:

• Revenue $182.1 million, down 0.9% from prior year quarter, up 0.4% constant currency
• Gross margin $73.0 million, up 3.6% from prior year quarter
• Gross margin percentage of 40.1%, an improvement of 180 basis points from prior year quarter
• SG&A as a percent of revenue of 31.2%, an improvement of 80 basis points from prior year quarter
• Diluted earnings per common share increased to $0.29 compared $0.12 in prior year quarter, an improvement of 142%
• Pretax income increased to $13.4 million from $8.9 million in prior year quarter
• Net income increased to $9.4 million from $4.0 million in prior year quarter
• Adjusted EBITDA increased to $17.5 million from $13.1 million in prior year quarter
• Cash dividends declared of $0.13 per share

Full Fiscal Year 2019 Highlights:

• Revenue $729.0 million, up 11.4% from prior year and up 12.4% constant currency
• Gross margin $282.4 million, up 14.8% from prior year
• Gross margin percentage of 38.7%, an improvement of 110 basis points from prior year
• SG&A as a percent of revenue of 30.7%, an improvement of 130 basis points from prior year
• Diluted earnings per common share increased to $0.98 compared to $0.60 in prior year, an improvement of 63%
• Pretax income increased to $48.0 million from $28.9 million in prior year
• Net income increased to $31.5 million from $18.8 million in prior year
• Adjusted EBITDA increased to $64.6 million from $43.0 million in prior year
• Cash dividends declared of $0.52 per share