Revenue during the quarter went down marginally by 2 percent to $143.84 million from $146.78 million in the previous year period. Gross margin for the quarter contracted 110 basis points over the previous year period to 36.32 percent. Total expenses were 95.86 percent of quarterly revenues, up from 92.70 percent for the same period last year. That has resulted in a contraction of 315 basis points in operating margin to 4.14 percent.

Operating income for the quarter was $5.96 million, compared with $10.71 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $8.38 million compared with $13.09 million in the prior year period. At the same time, adjusted EBITDA margin contracted 310 basis points in the quarter to 5.83 percent from 8.92 percent in the last year period.

"I am pleased with the improving performance that we have seen in Europe and Asia Pacific, but there is more we can do to improve results in our North American practices, where we have been adversely affected by negative trends in our financial services and oil and gas businesses,” said Kate Duchene, president and chief executive officer of RGP. “As a management team, we are working hard to identify new ways to drive our revenue generation across the business. In order to address head on the underlying factors that have limited our recent performance, we have developed three major strategic initiatives that will form the foundation of a go-forward strategy for RGP.”

Cash flow from investing activities was $21.13 million for the nine month period as against cash outgo of $1.66 million in the last year period.

The company has spent $73.78 million cash to carry out financing activities during the nine month period as against cash outgo of $20.84 million in the last year period.