Resources Connection Inc. (RECN, Financial) filed Quarterly Report for the period ended 2011-11-26.
Resources Connection Inc. has a market cap of $486.6 million; its shares were traded at around $11.02 with a P/E ratio of 44.1 and P/S ratio of 0.9. The dividend yield of Resources Connection Inc. stocks is 1.8%. Resources Connection Inc. had an annual average earning growth of 2.3% over the past 10 years.
Selling, General and Administrative Expenses. S, G & A as a percentage of revenue was 29.7% and 30.8% for the quarters ended November 26, 2011 and November 27, 2010, respectively. S, G & A increased $0.3 million, or 0.7%, to $43.0 million for the three months ended November 26, 2011 from $42.7 million for the three months ended November 27, 2010.
Revenue. Revenue increased $20.8 million, or 7.9%, to $283.0 million for the six months ended November 26, 2011 from $262.2 million for the six months ended November 27, 2010. The number of hours worked in the first six months of fiscal 2012 increased about 8.6% compared with the prior year first six months while average bill rates fell about 0.8%. In addition, the revenue increase in the period is partially attributable to client reimbursement revenue which rose approximately $800,000 or 13% over the prior years first six months.
Direct Cost of Services. Direct cost of services increased $17.7 million, or 11.2%, to $175.9 million for the six months ended November 26, 2011 from $158.2 million for the six months ended November 27, 2010. Direct cost of services increased because the number of hours worked rose 8.6% in the first half of fiscal 2012 as compared to the same period of fiscal 2011. The average pay rate per hour to our consultants also rose about 1.6% between the two periods. The direct cost of services percentage of revenue was 62.2% and 60.3% for the six months ended November 26, 2011 and November 27, 2010, respectively. The increase in the direct cost of services percentage between the periods resulted from the unfavorable change in the bill rate/pay rate ratio and higher employee benefit costs.
Selling, General and Administrative Expenses. S, G & A as a percentage of revenue was 30.2% and 31.9% for the six months ended November 26, 2011 and November 27, 2010, respectively. S, G & A increased $2.0 million, or 2.4%, to $85.6 million for the six months ended November 26, 2011 from $83.6 million for the six months ended November 27, 2010.
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Resources Connection Inc. has a market cap of $486.6 million; its shares were traded at around $11.02 with a P/E ratio of 44.1 and P/S ratio of 0.9. The dividend yield of Resources Connection Inc. stocks is 1.8%. Resources Connection Inc. had an annual average earning growth of 2.3% over the past 10 years.
Highlight of Business Operations:
Direct Cost of Services. Direct cost of services increased $6.2 million, or 7.4%, to $90.0 million for the three months ended November 26, 2011 from $83.8 million for the three months ended November 27, 2010. Direct cost of services increased because the number of hours worked rose 6.9% in the second quarter of fiscal 2012 as compared to the same period of fiscal 2011. The average pay rate per hour to our consultants also rose about 1.5% between the two periods. The direct cost of services percentage of revenue was 62.1% and 60.5% for the three months ended November 26, 2011 and November 27, 2010, respectively. The increase in the direct cost of services percentage between the quarters resulted from the unfavorable change in the bill rate/pay rate ratio and higher employee benefit costs.Selling, General and Administrative Expenses. S, G & A as a percentage of revenue was 29.7% and 30.8% for the quarters ended November 26, 2011 and November 27, 2010, respectively. S, G & A increased $0.3 million, or 0.7%, to $43.0 million for the three months ended November 26, 2011 from $42.7 million for the three months ended November 27, 2010.
Revenue. Revenue increased $20.8 million, or 7.9%, to $283.0 million for the six months ended November 26, 2011 from $262.2 million for the six months ended November 27, 2010. The number of hours worked in the first six months of fiscal 2012 increased about 8.6% compared with the prior year first six months while average bill rates fell about 0.8%. In addition, the revenue increase in the period is partially attributable to client reimbursement revenue which rose approximately $800,000 or 13% over the prior years first six months.
Direct Cost of Services. Direct cost of services increased $17.7 million, or 11.2%, to $175.9 million for the six months ended November 26, 2011 from $158.2 million for the six months ended November 27, 2010. Direct cost of services increased because the number of hours worked rose 8.6% in the first half of fiscal 2012 as compared to the same period of fiscal 2011. The average pay rate per hour to our consultants also rose about 1.6% between the two periods. The direct cost of services percentage of revenue was 62.2% and 60.3% for the six months ended November 26, 2011 and November 27, 2010, respectively. The increase in the direct cost of services percentage between the periods resulted from the unfavorable change in the bill rate/pay rate ratio and higher employee benefit costs.
Selling, General and Administrative Expenses. S, G & A as a percentage of revenue was 30.2% and 31.9% for the six months ended November 26, 2011 and November 27, 2010, respectively. S, G & A increased $2.0 million, or 2.4%, to $85.6 million for the six months ended November 26, 2011 from $83.6 million for the six months ended November 27, 2010.
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