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Alt 14-10-2010, 19:43   #6
tina
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On Friday October 1, 2010, 1:44 pm EDT
IRVINE, Calif. (AP) -- Accounting and finance staffing company Resources Connection Inc. said Friday it turned a profit in the fiscal first quarter as its expenses decreased.

1.10.10

The company reported a profit of $1.2 million, or 3 cents per share, for the three months ended Aug. 28. A year ago it lost $7.2 million, or 16 cents per share, in the first quarter. Revenue rose 5 percent, to $123.7 million from $118.3 million.

Analysts expected Resources Connection to break even and report $120.6 million in revenue. Shares of Resources Connection climbed $1.21, or 8.8 percent, to $14.97 in afternoon trading.

A year ago the company booked expenses of $7.2 million, or 9 cents per share, related to the departure of two senior executives. Its selling, general, and administrative costs fell 21 percent in the most recent quarter. Resources Connection also said the slow economic recovery hurt its results a year ago.
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