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Hudson Revenue Rises 22%

November 01 2011

Hudson Highland Group Inc.’s (NASD: HHGP) third-quarter revenue rose 22.3 percent to $245.1 million from $200.4 million in the third quarter of last year. Revenue was up 13.5 percent on a constant currency basis.

Third-quarter revenue rose year over year across all regions:

• Hudson Americas revenue rose 26.0 percent to $47.7 million.
• Hudson Europe revenue rose 20.2 percent to $96.8 million.
• Australia and New Zealand revenue rose 23.9 percent to $90.4 million.
• Hudson Asia revenue rose 12.4 percent to $10.2 million.

Third-quarter gross margin rose to 37.9 percent from 37.4 percent in the year-ago quarter.

Hudson posted net income of $3.4 million in the third quarter, compared with a net loss of $1.9 million in the third quarter of 2010.

The company forecast fourth-quarter revenue of $225.0 million to $240.0 million, compared with revenue of $219.1 million posted in the 2010 fourth quarter.

“Our diversified portfolio of professional recruitment practices and global presence supported the delivery of meaningful year-over-year growth during the third quarter,” said Chairman and CEO Manuel Marquez. “We are also encouraged by the continued momentum of our legal and recruitment process outsourcing solution businesses, two practice areas specifically tailored to respond to the growing international needs of our global clients.”

Hudson Highland Group Inc. (NASD: HHGP)
For the third quarter ended Sept. 30, 2011, compared with the same period in 2010.
Revenue: $245.1 million, +22.3 percent
Net income: $3.4 million vs. net loss of $1.9 million

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