Irvine-based Resources Connection, Inc. reported a loss of $6.3 million for the three months through May 30, versus a profit of $15.9 million of previous year. Reportedly, Wall Street analysts were expecting a profit of $1.8 million. Resources Connection is a multinational professional services firm that provides accountants, lawyers and other consultants to its clients through its operating subsidiary, Resources Global Professionals.

The company reported sales of $132 million for the said period, down 44 percent from a year earlier. Analysts expected sales of $143.6 million. Resources Connection’s shares were off 8 percent in afterhours trading on a market value of $790 million.

The company believes the down economy is the reason behind its worse-than-expected results. The economic downturn took a toll on its services that the company had to cut back on the use of outside professionals.

“Given the global economic climate, this has been the most challenging year in the history of Resources,” said Thomas Christopoul, CEO of Resources Connection. “We continue to focus on the fundamentals of our business; that is helping our clients drive change throughout their organizations. We are beginning to hear more discussion about business transformation projects as companies look to initiatives outside of liquidity and cost reduction efforts. However, the macroeconomic environment is still causing many companies to approach project work cautiously.”

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