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View All NewsHudson Q3 revenue rises 6.5% in constant currency
Hudson Global Inc. (NASD: HSON) reported third-quarter revenue rose 6.5% in constant currency — the increase was 9.2% on a reported basis. Net loss was $848,000 compared to a net loss of almost $1.9 million in the year-ago quarter at the New York-based staffing, consulting and recruitment process outsourcing provider.
| (US$ thousands) | Q3 2017 | Q3 2016 | % change | % constant currency |
| Revenue | $118,108 | $108,136 | 9.2% | 6.5% |
| Gross margin | $47,245 | $43,542 | 8.5% | |
| Gross margin percentage | 40.0% | 40.3% | ||
| Net loss | ($848) | ($1,873) | nm |
Revenue by geography
| (US$ thousands) | Q3 2017 | Q3 2016 | % change |
| Hudson Americas | $4,044 | $4,163 | -2.9% |
| Hudson Asia Pacific | $76,509 | $64,607 | 18.4% |
| Hudson Europe | $37,555 | $39,366 | -4.6% |
Quote
“We delivered solid gross margin growth in the third quarter, with growth in permanent recruitment, RPO and talent management,” said CEO Stephen Nolan. “We are pleased to report positive adjusted EBITDA for the fifth consecutive quarter as well as positive cash flow from operations.”
Guidance
Hudson forecast fourth-quarter revenue of between $110 million and $120 million, a year-over-year increase of between 9.7% and 19.6%.
Share price and market cap
Shares in Hudson fell 3.33% to $1.45 in early afternoon trading today. The company had a market cap of $45.517 million, according to Yahoo at 1:57 p.m. EDT.