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View All NewsHudson Q2 revenue rises 4% in constant currency
Hudson Global Inc. (NASD: HSON) reported revenue edged up 0.5% in the second quarter; however, the increase as measured in constant currency was 3.6%. Net income at the staffing, recruitment process outsourcing and talent management solutions provider improved to $1.2 million from a net loss of $3.1 million in the year-ago quarter.
Gross margin also improved.
Hudson Americas' gross margin increased 18% year over year and RPO gross margin increased in the second quarter on continued strong demand across the client base.
| (US$ thousands) | Q2 2017 | Q2 2016 | % change | % constant currency |
| Revenue | $113,591 | $113,067 | 0.5% | 3.6% |
| Gross margin | $48,326 | $46,839 | 3.2% | |
| Gross margin percentage | 42.5% | 41.4% | ||
| Net income/loss | $1,226 | ($3,138) | nm |
Quote
“We delivered solid gross margin growth around the globe, with growth in nearly every country and notable improvement in the UK and China,” said CEO Stephen Nolan. “We are pleased to report positive adjusted EBITDA for the fourth consecutive quarter, as we continue to focus on our core markets and practices, delivering growth and positive cash from operations.”
Revenue by geography
| (US$ thousands) | Q2 2017 | Q2 2016 | % change |
| Hudson Americas | $4,161 | $3,661 | 13.7% |
| Hudson Asia Pacific | $69,264 | $62,039 | 11.6% |
| Hudson Europe | $40,166 | $47,367 | -15.2% |
Guidance
Hudson forecast third-quarter revenue of between $110 million and $120 million, a year-over-year increase of 1.8% to 11.0%.
Share price and market cap
Shares in Hudson were unchanged $1.35 in early afternoon trading today. The company had a market cap of $42.6 million, according to Yahoo.