Resources Connection shares jump 12.78% after-hours on strong operating cash flow despite Q3 miss.

Resources Connection Inc. rose 12.78% in after-hours trading following its fiscal third-quarter report, defying a miss on earnings and revenue. While the company posted a net loss of $9.5 million and revenue of $107.9 million, shares surged on a dramatic 2,311% year-over-year expansion in operating cash flow to $15.9 million and a 23.9% increase in cash reserves to $89.8 million. The positive sentiment was further bolstered by significant insider buying from CEO Kate Duchene and major institutional accumulation by First Manhattan Co. and SEI Investments, which offset concerns regarding the reported operating loss and revenue decline.