Second-quarter revenue fell 18.8% at staffing and RPO provider Hudson Global Inc. (NASD: HSON) to $122.7 million. However, the decline was 6.9% when measured in constant currency.

Hudson reported approximately $2 million in restructuring charges for headcount and real estate actions at its corporate operations and in Europe.

The company also sold its Netherlands operations to InterBalance Group B.V. for €8.1 million, effective on April 30. Hudson also sold its Americas IT staffing business to Mastech Inc. (NYSE MKT: MHH) effective June 15 for $17.0 million in cash as well as retained working capital.

In addition, Hudson has nearly completed the exit of non-profitable operations in Central and Eastern Europe and approved the exit of operations in Luxembourg.

Quote

“We completed the divestitures of our Americas IT staffing business and Netherlands business in the second quarter, as we continued to implement our strategy to narrow our focus on core businesses,” CEO Stephen Nolan said. “We delivered constant currency gross margin growth in key markets and practices, including Asia Pacific and RPO. We remain focused on returning to profitability by reducing costs while selectively investing in key markets and practices.”

Revenue by geography

Guidance

Hudson forecast revenue of $105 million to $115 million in the third quarter, down 23.0% to 29.7% from the year-ago quarter.

Share price and market cap

Shares in Hudson fell 1.33% to $2.22 in early afternoon trading. The company had a market cap of $75.62 million, according to Yahoo!