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Hudson Fourth-Quarter Revenue Up 2%

February 24 2012

Hudson Highland Group Inc. (NASD: HHGP), a New York-based staffing provider, reported fourth-quarter revenue rose 1.7 percent to $222.7 million from $219.1 million in the fourth quarter of the previous year.

Fourth-quarter Hudson Americas revenue rose 8.0 percent to $47.8 million on a year-over-year basis, and Hudson Europe revenue rose 1.3 percent to $91.8 million. However, Hudson Asia revenue fell 1.2 percent in the fourth quarter to $83.2 million.

Fourth-quarter gross margin rose to 38.0 percent from 37.9 percent in the year-ago quarter.

Hudson posted net income of $3.3 million in the fourth quarter, up from $1.2 million in the fourth quarter of 2010.

Revenue for full-year 2011 rose 17.5 percent to $933.7 million from $794.5 million in 2010.

Gross margin for the full year edged up to 37.9 percent from 37.6 percent in 2010. Net income was $10.9 million, compared with a net loss of $4.7 million in 2010.

The company forecast first-quarter revenue to fall 4 percent to 8 percent from revenue of $218.5 million in the first quarter of 2011.

Hudson Highland Group Inc. (NASD: HHGP)
For the fourth quarter ended Dec. 31, 2011, compared with the same period in 2010.
Revenue: $222.7 million, +1.7 percent
Net income: $3.3 million, +177.8 percent

For the fiscal year ended Dec. 31, 2011, compared with the previous year.
Revenue: $933.7 million, +17.5 percent
Net income: $10.9 million vs. net loss of $4.7 million

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