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View All NewsWorld – Hudson Q1 revenue rises but is down in Europe
Hudson Global Inc. (NASD: HSON) reported revenue rose 5.4% in constant currency in the first quarter. Net loss narrowed at the provider of staffing, recruitment process outsourcing and talent management solutions.
| (US$ Thousands) | Q1 2017 | Q1 2016 | Change | % Constant Currency |
| Revenue | 103,405 | 101,227 | 2.2% | 5.4% |
| Gross Margin | 42,432 | 41,262 | 2.8% | N/A |
| Gross Margin Percentage | 41.0% | 40.8% | N/A | N/A |
| Net Loss | (1,314) | (3,487) | N/A | N/A |
“We delivered solid gross margin growth in key markets around the globe, led by Belgium, Australia/New Zealand, France and the Americas,” CEO Stephen Nolan said. “We are pleased to report positive adjusted EBITDA in the first quarter for the first time since 2011, as we benefited from our focus on growth and disciplined execution in core markets and practices.”
Revenue by Geography is broken down as follows:
| (US$ Thousands) | Q1 2017 | Q1 2016 | Change | % Constant Currency |
| Hudson Americas | 4,315 | 3,837 | 12.5% | 12.2% |
| Hudson Asia Pacific | 59,710 | 51,071 | 16.9% | 12.8% |
| Hudson Europe | 39,380 | 46,319 | -15.0% | -4.6% |
Hudson forecast second-quarter revenue of between $104 million and $114 million, which ranges between a year-over-year decrease of 8.0% to an increase of 0.8%.
Shares in Hudson closed at $1.46, up 5.95% on the day and 46.0% above the 52-week low of $1.00 set on 9 March 2017. Based on its current share price the company has a market value of $46.07 million.