Resources Connection Earnings Call Nuggets: Europe Details and Second Quarter Outlook

Resources Connection Inc (NASDAQ:RECN) recently reported its first quarter earnings and discussed the following topics in its earnings conference call.

Europe Details

Jeff Silber – BMO Capital Markets: I wanted to focus first a bit on Europe. You’re still seeing obviously some year-over-year declines even though you’re anniversarying pretty (simple) – striking declines last year. Are there any pockets in Europe doing better or worse than others? Can you give us a little bit more color what’s going on there? I’d appreciate it.

Nate Franke – EVP and CFO: Yes. The U.K. is doing fairly well right now, Jeff. Yes, they are profitable and they were up in terms of their revenues. Where we are struggling is still in France and in Norway, and those markets are pretty tough. I would say Netherlands was kind of bottomed out. They were up a couple of percent in terms of growth and Sweden is doing okay, but that’s kind of a summary of Europe.

Jeff Silber – BMO Capital Markets: Any specific vertical doing better or worse than others both in Europe and U.S.?

Tony Cherbak – President and CEO: In the U.S. I would say that information management continues to be one of our big growth areas. It was up double digits for the quarter as we legal and human capital. It’s really our A&F business that is a little bit soft.

Jeff Silber – BMO Capital Markets: Then just one quick follow-up, you mentioned thanksgiving this year is in the current quarter, the fiscal second year quarter. Can you remind us where it fell out last year?

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