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Europe — Hudson Highland Q4 2009 revenues above expectation

02 February 2010

Hudson Highland Group, Inc. (Nasdaq:HHGP), the US-based provider of permanent staffing, contract staffing and talent management services, which in 2008 generated 47% of its gross margin in Europe, has provided preliminary information about its fourth quarter 2009 results.

The company expects to report that revenue in the fourth quarter of 2009 was 8% above the third quarter of 2009, with improvements in temporary contracting and permanent placement in virtually all of its major markets. In addition, the company expects to report adjusted EBITDA of approximately breakeven for the fourth quarter of 2009.


According to Thomson Reuters quarterly revenue is expected at $183.2 million, above analysts' estimates of $177.4 million.

The company also expects to report re-organisation expenses of between $5.5 and $6 million and depreciation and amortization of approximately $3.2 million.
 
The company will release its fourth quarter and full-year financial results for the period ended 31 December 2009 after the market closes on Wednesday, 10 February 2010.
 
Hudson Highland's shares yesterday closed up by 2.93% to $4.12.

 

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