Key Developments For Resources Connection Inc
Resources Connection Inc (RECN.O) (Nasdaq)
Resources Connection, Inc. Completes Acquisition of Sitrick And Company and Brincko Associates, Forms New Corporate Advisory and Restructuring Subsidiary
Resources Connection, Inc. announced the completion of the acquisition of the business of Sitrick And Company, Inc., and Brincko Associates, Inc., a widely-respected corporate advisory and restructuring firm and the formation of a Corporate Advisory and Restructuring subsidiary. The acquisitions, which include the purchase of certain assets of both Sitrick And Company and Brincko Associates, and the personal goodwill of Michael Sitrick, CEO of Sitrick And Company, were made for aggregate initial consideration of approximately $44.7 million, comprising $28.6 million in cash and approximately 822,000 shares of restricted stock, plus an earn-out based on the achievement of certain adjusted earnings before interest, income taxes, depreciation and amortization ("EBITDA") levels over a period of four years from the date of closing. The new Resources subsidiary is called Sitrick Brincko Group, LLC. Michael Sitrick is Chairman and CEO of the new subsidiary and reports directly to Donald B. Murray, Chairman and CEO of Resources. John Brincko is President and COO of the new subsidiary.
Resources Connection, Inc. Appoints Anthony Cherbak As President-Form 8-K
Resources Connection, Inc. reported in its Form 8-K that on August 18, 2009, Anthony Cherbak was appointed as the Company's President and Chief Operating Officer.
Resources Connection, Inc. Announces Resignation Of Christopoul As President And CEO; Appoints Donald B. Murray As New CEO-Form 8-K
Resources Connection, Inc. reported in its Form 8-K that on July 22, 2009, Thomas D. Christopoul resigned from his positions as President and Chief Executive Officer (CEO) of the Company. The Board has reappointed Donald B. Murray, the Company's founder and current Executive Chairman, as CEO. Mr. Murray will also continue to serve as the Chairperson of the Board.
Resources Connection, Inc. Issues Q2 2009 Revenue Guidance Below Analysts' Estimates-Reuters
Reuters reported that Resources Connection, Inc. sees second quarter 2009 revenue of about $197 million. According to Reuters Estimates, analysts are expecting the Company to report revenue of $220 million for second quarter 2009.
Resources Connection, Inc. Issues Q1 2009 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Resources Connection, Inc. announced that for the first quarter of 2009, it expects to achieve revenues between $209 to $211 million. According to Reuters Estimates, analysts are expecting the Company to report revenues of $210 million for the same period.
