Hudson Highland Posts 17.5 Percent Gain; Net Income Up

February 23, 2012 – Hudson Highland Group, Inc./(NASDAQ:HHGP) has posted fourth quarter 2011 revenues of $222.7 million, a gain of 1.7 percent from $219.1 million for the fourth quarter of 2010. The recruiting firm recorded net income of $3.3 million, or $0.10 per basic and diluted share, compared with net income of $1.2 million, or $0.04 per basic and diluted share, the prior year. For the year, Hudson Highland earned revenues of $933.7, an increase of 17.5 percent from $794.5 million for 2010. Net income for the year was $10.9 million, or $0.35 per basic share and $0.34 per diluted share, compared with net loss of $4.7 million, or $0.16 per basic and diluted share, in 2010. “In more than 20 countries, our teams placed over 16,000 professionals and managed on average 5,800 highly skilled contract consultants per day to deliver solutions that helped our clients grow and address these uncertain times,” said Manuel Marquez, CEO. “Despite headwinds in the fourth quarter, we achieved double digit revenue growth, generated positive cash flow and realized record net income from continuing operations in 2011. We believe we are now better positioned to confront the market contraction in Europe and its ripple effect in Asia Pacific.”

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