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View All NewsHudson Q2 revenue falls 8%
Hudson Global Inc. (NASD: HSON) reported second-quarter revenue fell 7.9%, or 4.2% in constant currency. However, revenue rose 4.1% on a constant-currency basis when excluding the Americas IT business, which it sold it to Mastech Holdings Inc. (NYSE MKT: MHH) in June 2015; its Netherlands business, which it sold to InterBalance Group BV; and the Ukraine, Czech Republic, Slovakia and Luxembourg, markets, which Hudson exited last year.
Hudson provides recruitment process outsourcing, talent management and recruitment.
| (US$ thousands) | Q2 2016 | Q2 2015 | % change | % constant currency |
| Revenue | $113,067 | $122,743 | -7.9% | -4.2% |
| Gross margin | $46,839 | $50,222 | -6.7% | -4.0% |
| Gross margin percentage | 41.4% | 40.9% | -- | |
| Net loss/income | -$3,138 | $13,877 | nm |
Quote
“We are encouraged by the continued gross margin growth in many of our markets, including Australia, New Zealand, Belgium, France and Spain,” said CEO Stephen Nolan. “Amidst variable economic conditions around the globe, demand was strong for our services in temporary recruitment and talent management in particular, with continuing gross margin growth in RPO.”
Revenue by geography
| (US$ thousands) | Q2 2016 | Q2 2015 | % change | % constant currency |
| Hudson Americas | $3,661 | $10,183 | -64.0% | -64.0% |
| Hudson Asia Pacific | $62,039 | $57,374 | 8.1% | 13.0% |
| Hudson Europe | $47,367 | $55,186 | -14.2% | -10.7% |
Guidance
Hudson forecast revenue of between $105 million and $115 million in the third quarter.
Share price and market cap
Shares in Hudson rose 1.39% in early afternoon trading today to $2.19. The company had a market cap of $75 million, according to Yahoo!