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View All NewsWorld – Hudson revenue up 60%, cites client win in Asia-Pacific
Hudson Global Inc. (NASDAQ: HSON), a provider of RPO and other workforce solutions, reported second-quarter revenue rose 59.7% with strong growth in its Asia-Pacific operations. However, gross margin narrowed.
| (USD thousands) | Q2 2019 | Q2 2018 | % change | % constant currency |
| Revenue | 26,414 | 17,015 | 55.2% | 59.7% |
| Gross profit | 11,659 | 10,801 | 7.9% | 13.2% |
| Gross margin percentage | 44.1% | 63.5% | N/A | N/A |
| Net loss | (900) | (1,364) | N/A | N/A |
Revenue growth in Asia Pacific was driven by the start of a significant contract in Australia to manage a portion of the contingent workforce for a “large Asia-based technology company,” according to Hudson. However, gross profit in Asia Pacific fell 1% in constant currency.
In its Americas segment, the company said new client wins fuelled growth.
Revenue by geography
| (USD thousands) | Q2 2019 | Q2 2018 | % change | % constant currency |
| Hudson Americas | 3,982 | 3,509 | 13.5% | 13% |
| Hudson Asia Pacific | 17,454 | 9,600 | 81.8% | 87% |
| Hudson Europe | 4,978 | 3,906 | 27.4% | 34% |
Guidance
Hudson forecast that revenue will be up 10% for the full year 2019.
Hudson Global shares closed at $12.68, up 3.93% on the day and 23.59% above the 52 week low of $10.26 set on 29 Jul 2019. Based on its current share price the company has a market value of $37.27 million.