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IRVINE, Calif. - Resources Connection Inc., which provides staffing services for accounting and finance firms, said Wednesday fiscal third-quarter earnings fell 33 percent as office expansion and new staff pushed expenses higher.
| RECN | 18.12 |  1.67 |
Net income in the three months ended Feb. 29 dropped to $8.7 million, or 19 cents per share, from $13.1 million, or 26 cents per share, in the year-ago period.
The result was in line with analyst expectations, according to Thomson Financial.
Revenue rose 8 percent to $202.8 million from $187.5 million last year. U.S. revenue rose 4 percent, and international revenue jumped 23 percent due to the weak dollar. Spending on new offices and to hire new staff sent expenses 18 percent higher to $51.5 million.
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