Resources Connection (RECN) Misses Q4 EPS by 11c, Revenues In-Line

Resources Connection (NASDAQ: RECN) reported Q4 EPS of $0.15, $0.11 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $148.6 million versus the consensus estimate of $148.45 million.

SECOND QUARTER 2017 FINANCIAL SUMMARY:

• GAAP diluted earnings per share was $0.45 in Q2 2017, compared to $0.46 in Q2 2016.
• Adjusted diluted earnings per share, a non-GAAP measure, was $0.50 in Q2 2017, compared to $0.49 in Q2 2016.
• Consolidated total revenue was $154.1 million in Q2 2017, compared to $154.9 million in Q2 2016. License revenue was $22.4 million in Q2 2017, compared to $20.6 million in Q2 2016.
• GAAP operating income was $49.3 million in Q2 2017, compared to $52.3 million in Q2 2016.
• Adjusted operating income, a non-GAAP measure, was $55.2 million in Q2 2017, compared to $55.9 million in Q2 2016.
• Cash flow from operations was $11.3 million in Q2 2017, compared to $19.1 million in Q2 2016. Days Sales Outstanding was 57 days at June 30, 2017, compared to 53 days at March 31, 2017.
• Cash and investments totaled $86.6 million at June 30, 2017, compared to $101.3 million at March 31, 2017.
• During the three months ended June 30, 2017, the Company repurchased 535,340 shares of Manhattan Associates common stock under the share repurchase program authorized by the Board of Directors, for a total investment of $25.0 million. In July 2017, the Board of Directors authorized the Company to repurchase up to an aggregate of $50 million of the Company’s common stock.

For earnings history and earnings-related data on Resources Connection (RECN) click here.

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