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View All NewsHudson Q4 revenue up 16% in constant currency
Hudson Global Inc. (NASD: HSON) reported fourth-quarter revenue rose 16.4% in constant currency — the increase was 21.2% on a reported basis. Net loss increased to $2.0 million from $292,000 in the year-ago quarter at the New York-based staffing, consulting and recruitment process outsourcing provider, but included goodwill impairment in China of $1.9 million.
| (US$ thousands) | Q4 2017 | Q4 2016 | % change | % constant currency |
| Revenue | $121,617 | $100,314 | 21.2% | 16.4% |
| Gross margin | $48,733 | $42,774 | 13.9% | |
| Gross margin percentage | 40.1% | 42.6% | ||
| Net loss | ($2,005) | ($292) | nm |
Hudson announced in December that it entered into agreements to sell its recruitment and talent management operations in Europe and Asia Pacific to strategic buyers in three transactions. Hudson intends to focus on its growing, global RPO business going forward.
Revenue by geography
| (US$ thousands) | Q4 2017 | Q4 2016 | % change | % constant currency |
| Hudson Americas | $3,677 | $3,901 | -5.7% | -6.0% |
| Hudson Asia Pacific | $77,341 | $59,122 | 30.8% | 28.1% |
| Hudson Europe | $40,599 | $37,291 | 8.9% | 1.0% |
Quote
“We delivered solid gross margin growth in the fourth quarter, with growth in every product line, including permanent recruitment, temporary contracting, recruitment process outsourcing and talent management,” said CEO Stephen Nolan.
Full-year results
| (US$ thousands) | 2017 | 2016 | % change | % constant currency |
| Revenue | $456,721 | $422,744 | 8.0% | 7.9% |
| Gross margin | $186,736 | $174,417 | 7.1% | |
| Gross margin percentage | 40.9% | 41.3% | ||
| Net loss | ($2,941) | ($8,790) | nm |
Share price and market cap
Shares in Hudson fell 2.55% to $1.91 as of 11:46 a.m. Eastern time today. The company had a market cap of $59.72 million.