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Hudson revenue edges up

July 31 2008

The Hudson Highland Group Inc. (NASD: HHGP) posted a 3.0% increase in second-quarter revenue to $305.9 million from $297.0 million in the same period last year.

"Second quarter operating results were led by our international operations and continuing improvement in North America," said Chairman and CEO Jon Chait.

Hudson Americas revenue rose 1.0% to $71.5 million. And Hudson Asia Pacific revenue increased 11.6% to $117.6 million. Hudson Europe, however, posted a 3.3% year-over-year decrease in revenue to $116.8 million.

The company said it closed the sale of the public management portion of its Balance division on May 1 and recorded a gain of $2.8 million. Balance provides contractors with medical expertise. In addition, Hudson said it's continuing with streamlining operations.

Second-quarter gross margin improved to 44.9% year-over-year from 43.7%.

Hudson posted second-quarter net income of $5.0 million, compared with a net loss of $618,000 in the second quarter of 2007.

It estimated third-quarter revenue of between $290 million to $305 million.

Hudson Highland Group Inc. (NASD: HHGP)
For the second quarter ended June 30, 2008, compared with the same period in 2007.
Revenue: $305.9 million, +3.0%
Net income: $5.0 million vs. net loss of $618,000

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