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View All NewsWorld – Hudson Q4 revenue drops sharply in Europe
Hudson Global Inc. (NASD: HSON) reported revenue fell 5.5% in the fourth quarter but edged up slightly, 0.4% in constant currency. Net loss narrowed at the provider of staffing, recruitment process outsourcing and talent management solutions.
| (US$ thousands) | Q4 2016 | Q4 2015 | % change | % constant currency |
| Revenue | $100,314 | $106,109 | -5.5% | -0.4% |
| Gross margin | $42,774 | $44,439 | -3.7% | N/A |
| Gross margin percentage | 42.6% | 41.9% | N/A | N/A |
| Net loss | -$292 | -$2,626 | nm | N/A |
“We continued to deliver gross margin growth in many of our markets, including Americas Australia/New Zealand, Belgium, France, Hong Kong and Spain,” said CEO Stephen Nolan. “We generated over $5 million in cash flow from operations in the fourth quarter and delivered year-over-year improvement in adjusted EBITDA in 2016.”
Revenue by geography
| (US$ thousands) | Q4 2016 | Q4 2015 | % change |
| Hudson Americas | $3,901 | $3,731 | 4.6% |
| Hudson Asia Pacific | $59,122 | $53,268 | 11.0% |
| Hudson Europe | $37,291 | $49,110 | -24.1% |
Hudson also published full year results as follows
| US$ thousands) | 2016 | 2015 | % growth | % constant currency |
| Revenue | $422,744 | $463,197 | -8.7% | -4.7% |
| Gross margin | $174,417 | $187,710 | -7.1% | N/A |
| Gross margin percentage | 41.3% | 40.5% | N/A | N/A |
| Net income/loss | -$8,790 | $2,329 | nm | N/A |
Hudson forecast first-quarter revenue of between $95 million and $105 million, which ranges between a year-over-year decrease of 6.2% to an increase of 3.7%.
Hudson Global Inc (HSON:NSQ) set a new 52-week low during Thursday's trading session when it reached $1.02, down 1.96% on the day. Based on its current share price the company has a market value of $33.4 million.