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Hudson 3Q income slips 9.3%

October 25 2007

Hudson Highland Group Inc. (NASD: HHGP) reported net income of $3.9 million for its third quarter ended Sept. 30. This is down 9.3% from the $4.3 million posted in the same quarter in 2006. Revenue for the quarter was $341.3 million, a decrease of 0.1% from $341.5 million for the third quarter of 2006. Gross margin was $136.1 million, up 8.2% from $125.9 million, for the same year-ago period.

"Led by Europe and Asia Pacific, our international operations continued to demonstrate steady performance improvement," said Mary Jane Raymond, executive vice president and CFO. "Given the current global concerns about a slowing economy, we continue to focus on improving our liquidity."

Looking ahead, the company expects fourth-quarter revenue in the range of $325 million and $340 million at prevailing exchange rates This compares with revenue of $329.3 million and adjusted EBITDA of $14.8 million in the fourth quarter of 2006.

Hudson Highland Group Inc. (NASD: HHGP)

For the third quarter ended Sept. 30, compared with the same period in 2006

Revenue: $341.5 million, +0.1%

Net income: $3.9 million, -9.3%

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