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Hudson Revenue Rises 27%

July 27 2011

Hudson Highland Group Inc. (NASD: HHGP) reported second-quarter revenue rose 26.9 percent to $247.4 million in the year-ago quarter, up from $195.0 million. On a constant currency basis, revenue was up 13.8 percent.

“Our team delivered solid year-over-year growth on the top and bottom lines in every region of the world,” said Manuel Marquez, chairman and CEO. “We experienced particular market demand strength for our legal and recruitment process outsourcing (RPO) solutions”

Second-quarter revenue growth exceeded 20 percent year over year across all the company’s regions:

• Hudson Americas revenue rose 24.7 percent to $50.9 million.
• Hudson Europe revenue rose 24.1 percent to $100.2 million.
• Australia and New Zealand revenue rose 32.0 percent to $86.1 million.
• Hudson Asia revenue rose 23.8 percent to $10.1 million.

Gross margin rose to 38.6 percent in the second quarter from 38.1 percent in the year-ago quarter.

Hudson posted net income of $4.2 million in the second quarter, compared with net income of $229,000 in the year-ago quarter.

The company expects third quarter revenue of between $230 million and $240 million, up 14.8 percent to 19.8 percent on a year-over-year basis.

Hudson Highland Group Inc. (NASD: HHGP)
For the second quarter ended June 30, 2011, compared with the same period in 2010.
Revenue: $247.4 million, +26.9 percent
Net income: $4.2 million vs. net income $229,000

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