Daily News

View All News

Hudson Highland cuts revenue estimate

October 21, 2008

The Hudson Highland Group Inc. (NASD: HHGP) said Monday it plans to announce third-quarter revenue of between $271 million and $272 million. The New York-based professional staffing firm had earlier estimated third-quarter revenue of between $290 million and $305 million.

Economic weakness spread in international markets, particularly the United Kingdom and Australia, prompting the reduction in the revenue estimate, the company said. July and August were weaker than expected. Hudson said September was the strongest month and was helped by cost-cutting, but it wasn't strong enough to offset July and August.

The company plans to formally release third-quarter results on Oct. 28.