RGP - Resources Connection GAAP EPS of $0.35 beats by $0.11 revenue of $184.4M beats by $3.32M

2023-07-24 16:19:37 ET

• Resources Connection press release ( NASDAQ: RGP ): Q4 GAAP EPS of $0.35 beats by $0.11 .
• Revenue of $184.4M (-15.0% Y/Y) beats by $3.32M .
• Gross margin remained strong at 41.1% compared to 41.3%
• Selling, general and administrative expenses (“SG&A”) of $56.5 million, including $1.9 million of technology transformation costs, or 30.6% of revenue, up 330 basis points
• Net income of $11.8 million (net income margin of 6.4%) compared to $20.5 million (net income margin of 9.5%)
• Adjusted EBITDA, a non-GAAP measure, was $23.2 million, or 12.6% Adjusted EBITDA margin compared to 15.4%
• Cash dividends declared of $0.14 per share consistent with the prior year quarter
• Available financial liquidity of $291.0 million, up from $224.0 million at fiscal year-end 2022

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