Resources Connection Rises

The stock is up more than 14% following its quarterly report.
Author:
Publish date:

Resources Connection

(RECN) - Get Report

, a provider of risk-management and auditing services, saw its shares rise a day after the company reported its quarterly results.

The stock was recently up $3.43, or 14.4%, to $27.18.

Total revenue for the first quarter advanced 10.4% to $165.1 million, and net income, calculated by generally accepted accounting principles, was $11 million, or 22 cents a share. Last year, Resources Connection earned $15.1 million, or 29 cents a share.

Before items, the company earned $15.1 million, or 30 cents a share, in the most recent quarter. Analysts were expecting 24 cents.

During a conference call Wednesday, Resources Connection said it estimates that revenue for the second quarter will be around $175 million, assuming recent trends continue. Following the financial report, Resources Connection was upgraded by Robert W. Baird to outperform from neutral and by JMP Securities to market-outperform from market-perform.