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Hudson Highland profit rises

May 06 2008

First-quarter net income at the Hudson Highland Group Inc. (NASD: HHGP) rose to $1.4 million from $55,000 in the first quarter of 2007.

"While strong performances continued in Asia Pacific and Europe, our North America business performed admirably, including a particularly strong period for Hudson Legal, one of our specialized markets less impacted by economic cycles," Chairman and CEO Jon Chait said.

The sale of its energy and engineering business this year also helped cut costs, Chait said.

First-quarter revenue at Hudson Highland rose 3.2% to $297.5 million from $288.2 million in the same period last year. Gross margin improved to 42.4% from 40.9%.

The company's first-quarter Americas revenue rose 8.8% to $83.3 million from $76.5 million.

Hudson Highland forecast second-quarter revenue of $300 million to $315 million, an increase of 0.5% to 5.5% from the second quarter of 2007.

Hudson Highland Group Inc. (NASD: HHGP)
For the first quarter ended March 31, 2008, compared with the same period in 2007.
Revenue: $297.5 million, +3.2%
Net income: $1.4 million vs. net income of $55,000

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